College is expensive. According to the College Board, the average cost of tuition and fees at a four-year public college has increased by more than 250% in the past 30 years. At a four-year private college, the average cost has increased by more than 150%.
This has made it increasingly difficult for students to afford a college education. Many students are forced to take on large amounts of debt in order to pay for school. In 2016, the average student loan debt was $29,000.
Scholarships can help students reduce the cost of college. Scholarships are typically awarded based on academic merit, financial need, or other criteria. There are many different types of scholarships available, including scholarships from colleges and universities, scholarships from private organizations, and scholarships from state and local governments.
The good news is that there are many scholarships available for students who are in financial need. In fact, according to the National Center for Education Statistics, there are more than $14 billion in scholarships awarded each year to students based on financial need.
Types of Scholarships for Students in Financial Need
There are many different types of scholarships available for students in financial need. Some of the most common types include:
- Need-based scholarships: These scholarships are awarded to students who demonstrate financial need. The amount of the scholarship is typically based on the student’s family income and assets.
- Merit-based scholarships: These scholarships are awarded to students who have a strong academic record. The amount of the scholarship is typically based on the student’s GPA, test scores, and other academic achievements.
- Athletic scholarships: These scholarships are awarded to students who have a strong athletic record. The amount of the scholarship is typically based on the student’s athletic ability and potential.
- Minority scholarships: These scholarships are awarded to students who are members of a minority group. The amount of the scholarship is typically based on the student’s race, ethnicity, or gender.
How to Find Scholarships for Students in Financial Need
There are many ways to find scholarships for students in financial need. Some of the best places to start include:
- The College Board: The College Board’s website has a searchable database of scholarships for students in financial need.
- The National Scholarship Directory: The National Scholarship Directory is a free online database of scholarships for students in financial need.
- Your high school guidance counselor: Your high school guidance counselor can help you find scholarships for students in financial need.
- Your local library: Your local library may have a collection of books and other resources on scholarships for students in financial need.
How to Apply for Scholarships for Students in Financial Need
Once you have found some scholarships that you are eligible for, you need to apply for them. The application process for scholarships typically involves submitting a completed application, transcripts, and letters of recommendation.
Here are some tips for applying for scholarships for students in financial need:
- Start early. The application process for scholarships can be lengthy, so it is important to start early.
- Read the instructions carefully. Make sure you read the instructions for each scholarship carefully before you apply.
- Complete the application completely. Make sure you complete all of the questions on the application.
- Proofread your application. Make sure you proofread your application before you submit it.
- Submit your application on time. Make sure you submit your application by the deadline.
Conclusion
Scholarships can be a great way to help students afford a college education. There are many different types of scholarships available, including scholarships for students in financial need. If you are a student in financial need, there are many resources available to help you find and apply for scholarships.
