TIP OF THE WEEK - November 30

College Scholarships

Scholarships For College

College gets more expensive every year. Scholarships are a great way to help reduce the costs of attending a college or university. College scholarships are typically awarded based on some type of achievement or success and may contain clauses that require the student to maintain a specific grade point average.

College Scholarship Tips

Your best scholarship research sources include: The internet (try a free scholarship search engine such as: www.fastweb.com), your local community (contact your local chamber of commerce), and your high school guidance counselor and/or college financial aid officer.

It is also important to reach out to everyone you know to ask if they know of any organizations or companies that give out college scholarships. Once you have your list make sure to keep note of all of the deadlines and requirements to be eligible. This will help you stay focused and make sure you get all your scholarship applications in on time.

You can start applying for scholarships as early as your freshman year in high school. If you win a scholarship before you know which college you’ll attend, the scholarship organization usually will either write you a check, or simply give you the money when you decide where to attend college.

Create a successful scholarship application by setting yourself apart from the other applicants. Try to think what you would be looking for if you were reviewing scholarship applications. Always be honest and never bend the truth, make sure you can back up everything you say in your college scholarship application or essay.

After you are awarded your college scholarship, write a thank you note! Someone spent a lot of time reading all the college scholarship applications, and they selected you. Write a sincere thank you note to the person who saved you money on your college tuition. This will also help your chances of winning the scholarship again the following year if you are still eligible.

Types of college scholarships

Institutional - Awarded by the college or university to a current or future
student
Merit - Usually the largest scholarships. Given for a student's academic,
artistic, or athletic abilities
Need - Given to distinguished students who are in need of help financially
Sociology - Only given to students that meet a certain criteria for religion,
race, or national origin
General - Any other type such as scholarships given to students based on
their parents affiliation with organizations or corporations (parent's employer may offer scholarships)

Parents with Seniors - College and scholarship applications need to be
completed now. FAFSA for financial needshould be filed in January and
updated after you file your 2009 tax return.

Parents with Juniors - Your financial need base tax year will be 2010
for students beginning college in 2011. Now is the time to start planning.