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The decision to not enroll this fall causes students’ scholarship and grant money to return to the college’s pool of financial resources and the money becomes available for students who know to ask for it.
Last year I wrote about how parents of college-bound students are reacting to tough economic times by allowing their son/daughter to only apply to public colleges and universities (with lower tuition costs). My reaction to this was, “What a mistake.”
Most local scholarship applications are due between March 1 and May 31, 2010. Although completing more applications, essays, and interviews sounds dreadful, doing so can pay off in a big way.
Parents can maximize their son or daughter’s eligibility for need-based scholarships and grants by reducing their financial assets and cash reserves. This sounds extreme, but it is reality. MyCollegeCalendar.org gives advice on actions to take to increase student eligibility for financial aid and to receive scholarship awards.
The financial aid process is confusing at best and for many college-bound students and their parents, it can be incomprehensible. MyCollegeCalendar.org provides a simple, user-friendly flowchart of the entire process showing the types of aid, when to apply, and when students should be notified of scholarship and grant awards.
Sometimes parents encourage students to apply to all available scholarships to increase the chances of winning scholarship money. This cannot be done effectively. MyCollegeCalendar.org advises to avoid this pitfall.
“Free money” that comes in the form of merit-based financial aid includes scholarships and grants; it is money that is almost always tax-free and never has to be repaid. Merit-based scholarships and grants are awarded based on excellence in academics, leadership, volunteerism, athletic ability, and other areas determined by the granting organization, which can be a college or university, community-minded organization, or individual.
Most scholarship applications require at least one essay. These essays are usually shorter and less difficult to write than college admission essays. MyCollegeCalendar.org offers advice for writing the best possible scholarship essays as well as overall strategy for winning scholarships.
The bulk of scholarships and grants (free money that doesn’t have to be repaid) is awarded based on (1), student financial need and (2), student academic success. MyCollegeCalendar.org gives descriptions and instructions on how to apply for need-based financial aid.
Each scholarship has its own criteria for selecting winners. MyCollegeCalendar.org provides advice on these criteria and how to fulfill scholarship application requirements.
