Types of Scholarships
Many different types of scholarships are available to help students fund their educational expenses. These scholarships may come from a range of diverse sources and be awarded for an assortment of reasons. Each type of scholarship has its own eligibility criteria and application process. Because there are so many offered, it's important for students to identify the ones that can be of use to them.
Scholarships and Grants from the U.S. Government
The government (at the state and federal levels) provides a number of funding opportunities for eligible students, in several forms. There is need-based federal aid, which is intended for those who are coming from a financially disadvantaged background. These aid programs include: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Tuition Assistance Program (TAP) and Federal Work Study. They also oversee the Federal Subsidized Stafford Loans, Federal Unsubsidized Stafford Loans, Perkins Loans, Federal PLUS loans, Alternative Student Loans and a number of others.
To be considered, a student must complete the Free Application for Federal Student Aid (FAFSA). Once submitted, the Student Aid Report (SAR) is sent to the student or an Institutional Student Information Record (ISIR) is sent to the school he wants to attend. These documents reveal the amount of aid that a student is eligible to receive.
College Specific Scholarships
Additionally, colleges and other secondary education facilities often have their own scholarship money available for qualified students. Eligibility criteria for college-based scholarships may center on a range of factors other than only the student's financial need. For example, they may be based on factors like a student's academic achievements, GPA, athletics, intended major, extracurricular activities and affiliations. Students who play sports and are looking to play in college have added opportunities with college-based scholarships. Talk to the financial aid department of the school or the particular department that oversees your major; they can answer any questions you have and inform you of other types of scholarships their school offers. University scholarships are generally broken down into four types: merit based, major-specific, fellowships and athletic scholarships.
Other Sources
Numerous types of scholarships are also administered by corporations, organizations, chambers of commerce, school districts and clubs. The association a student has within an affiliation, such as a labor union, the military, a trade, religious practice, gender, ethnicity, background, political party, charity and community, is significant when obtaining funding from such sources. The high school that a student graduates from may also provide financial awards to their alumni.
Businesses and Organizations
Corporations offer scholarships for current and prospective employees to promote entry into their corporations. They may even have scholarship opportunities intended for the children of their employees. Target, Bank of America, Coca Cola and Chevron are examples of large corporations that offer scholarships. Religious organizations frequently grant scholarships to assist their members in paying with their college expenses. Contact your religious group to become aware of the scholarships they provide. Unions also award a number of scholarships. The AFL-CIO website (www.aflcio.org) has a scholarship search.
Ethnic organizations also have scholarship opportunities aimed to help to members of specific ethnic groups and heritages. Service clubs like the PTA, Booster, Key Club and Rotary offer numerous prospects for funding your education.
Special Scholarships
In addition to merit-based scholarships and academic awards, which are based on a student's academic standing, GPA or standardized test scores, look for scholarships that take into account your personal talents and skills in a specific area. These awards focus on specific skills, whether it's creative or scientific.
Students, who come from special circumstances, like if they have disabilities, may be entitled to a number of other scholarships as well. These scholarships are usually administered from specific organizations or groups.
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