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Students: Great Tips
for Finding a Scholarship
Special to The
Truth
College is expensive, and while
families should focus on saving what they can, students
should not forget to apply to the wealth of scholarships
available nationwide.
Millions of scholarships, worth
billions of dollars are awarded annually. Beyond in-house
scholarships offered by the institutions themselves, a
number of federations and organizations offer money to
students with particular aptitudes, achievements and
aspirations.
“Scholarships can make a
significant dent in out-of-pocket college spending, but
finding and applying for them requires an up-front
investment of effort,” says Martha Holler, senior vice
president, Sallie Mae.
The college financing experts at
Sallie Mae are offering scholarship application tips:
• Applying is worth the time and
effort. Even if the award is small, take the time to apply
to every scholarship for which you are eligible. It is money
that doesn’t have to be paid back, and it can be used for
textbooks, supplies or other college-related expenses.
• Deadlines and details matter.
In the highly competitive scholarship arena, missing a
deadline or overlooking application requirements will likely
disqualify an applicant. Stay organized with a spreadsheet
that includes due dates and other important information.
• Apply each year. Approximately
half of available scholarships are for students already
enrolled in college. Take the time to apply annually to ease
the year-to-year tuition burden.
• Impress the judges. Something
seemingly as small as a thank you note can have a
disproportionately large effect on how an application is
regarded. Be courteous and thoughtful throughout the
process.
• Shop around. Go deep. There
are scholarships for students who want to study subjects as
diverse as candy making, potato growing and welding
technology. Additionally, scholarships are available for
particular circumstances, such as community college students
transferring to four-year institutions, or students who are
the first in their family to attend college.
• Don’t spend. The goal is to
save money, not spend it. Guidance counselors and school
financial aid offices can recommend free, reputable
scholarship search sites, such as Scholarship Search by
Sallie Mae, which just added two million scholarships to its
database, offering access to more than five million
scholarships worth nearly $24 billion. Those who register
are automatically eligible to win the Plan for College
Sweepstakes, which awards $1,000 each month to a winner
selected at random.
• Continue to save and plan.
Landing a scholarship is just one component of being
prepared for college. Continue to set aside savings. Free
college planning tools are available online in Sallie Mae’s
College Planning Toolbox.
For more tips on how to get
started finding free money for college and for information
on saving, planning and paying for college, visit
www.SallieMae.com.
Spend some time investigating
all your college financing options. Scholarships are an
excellent way to supplement your savings and other funding
sources.
Courtesy StatePoint
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