Scholarships

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1. What are private scholarships?
Private scholarships are sponsored by organizations, businesses, or groups with special interests such as:

• a specific field of study or occupation/career
• individuals from a particular nation of origin or ethnic group
• religious affiliation
• special skills and talents

Students must meet the sponsor's criteria in order to qualify to apply for a scholarship. The criteria may or may not include a student's financial need. Private scholarships can be very competitive and there are usually many applicants for a few awards.

You do not need to repay scholarships.

2. What is the difference between a grant and a scholarship?
Grants are based on need, while most scholarships are awarded based on merit. You do not need to repay grants or scholarships.

Many colleges offer scholarships based on both need and merit such as academic achievement or special talents. Colleges generally require students interested in scholarships to complete the financial aid process in order to make sure they receive all aid for which they are eligible. Grants and scholarships from colleges, as well as from federal and state governments, represent the majority of "free money" available to students. Private scholarships are offered by national organizations, employers, and local organizations. National scholarships are much more competitive than local scholarships. Employers limit most of their scholarships to children of their employees.

3. Can I receive both grants and scholarships?
YES! You definitely should apply for everything for which you are eligible. If you receive a grant or a private scholarship, you will be required by the college you attend to inform them of the grant or scholarship amount. In most cases, the college will let you use these sources to meet unmet financial need. If your full need has been met, the college will reduce your institutional grant and/or loan or work study amounts. Students are not allowed to receive more financial aid than they need, as determined by federal, state, and college guidelines.

4. Are there other ways to pay for college?
In addition to financial aid (need-based grants, subsidized and unsubsidized loans, and work-study) and scholarships, you might consider the following:

• Competitions and Prizes: These often require applicants to submit an essay, artwork, or other original creation to be judged. Generally these are one-time, nonrenewable gifts.
• Internships: While many internships are learning experiences where students only earn college credits, some pay a cash stipend. Many also lead to employment opportunities during the summer and upon graduation.
• Co-op (Cooperative) Education: Students work in paid jobs related to their major interests as part of their college program. Co-op advisors help you secure a job that fits your interests.
• AmeriCorps/Community Service: Students volunteer in some community service programs, including the AmeriCorps program. They receive an educational award earmarked for college costs.
• Private Loans: Private education loans are available to students and families who meet certain income and/or credit requirements. Private loans are different from the loans awarded to you by the financial aid office at your school. The school awards federal loans, generally subsidized and unsubsidized loans, which are sponsored by the U.S. government. Private loans, are not guaranteed by the U.S. government and are often used to supplement loans borrowed under the federal loan programs.

5. How do I find scholarships from private sources?

• Ask your high school counselor or college advisor. Your guidance counselor or faculty advisor may have information about scholarships. Ask if there are scholarships for which he or she can nominate or recommend you. Counselors and advisors may also know about scholarships other students have received for which you can apply.
• Search the Web. The Web is the fastest way to find private scholarships and fellowships. You can access more than 50 scholarship databases online. Many of these databases are accessible at no cost, and information on many of these sites is updated constantly. You can access the Internet on computers at your high school or college, a public library, or a community learning center, including TERI College Planning Centers located throughout Boston and Brockton. Click here for a list of TERI recommended sites.
• Visit the library. Public and college libraries have books on specialized topics such as scholarships for women, students with disabilities, graduate students, minorities, athletes, engineers, etc. Many also maintain files of newspaper clippings on local scholarships not listed in books or on the Internet.
• Talk to family. Family members may be affiliated with groups that offer scholarships. Employers, community groups, unions, local businesses, civic groups, alumni organizations, veterans' groups, and churches are examples of such groups. Talk to your family and make a list of their affiliations at the beginning of your scholarship search.
• Contact your local Chamber of Commerce, Your local Chamber may have a list of businesses and civic organizations awarding scholarships to area residents. Businesses, Elks, Jaycees, Kiwanis, Lions, and Rotary Clubs often offer substantial scholarships for students in their community.
• Research community organizations. YM/YWCAs, Boys & Girls Clubs, settlement houses, and the Urban League and NAACP often have private scholarship information. Some cities also have community-based education information centers, such as TERI College Planning Centers, Talent Search programs, and Educational Opportunity Centers, which offer free scholarship information and help with financial aid applications. Look in the phone book and on the Web for such organizations.

6. What about companies that guarantee they can find me a scholarship for a fee?
Scholarship searches don't need to cost money. Without spending a penny, you can find all the information you need. The Federal Trade Commission suggests that students and families avoid companies that make statements such as:

"You can't get this information anywhere else."

"I just need your credit card or bank account number to hold this scholarship."

"We'll do all the work."

"The scholarship will cost some money."

"You've been selected by a 'national foundation' to receive a scholarship."

"You're a finalist." (in a contest you've never entered)

While some companies that make these statements may be useful, many are considered to be "scholarship scams" and cause you to pay for information that is usually available for free. If you decide to pay for a scholarship search, ask for references and check them carefully. Don't be fooled by empty promises such as guarantees of scholarships or your money back.

7. How do I apply for scholarship and grant aid?
No financial aid comes to you automatically. Here are some key steps for applying:

Research early. Begin researching private scholarships a full year before you plan to go to college or graduate from high school. Allow enough time to:

• Send for application forms.
• Submit all required supporting materials such as essays or resumes.
• Give references (teachers, church leaders, and other professionals who know you well) enough time to submit their recommendations.

Make sure that you meet scholarship eligibility criteria. If you meet most of the eligibility criteria, you should apply even if you think the odds are against you or that you might not qualify. Don't apply for scholarships for which you are clearly not eligible.

Complete the application process. Private scholarships usually have specialized applications. Be sure to adhere to their specific guidelines.

Apply for federal aid by filing a FAFSA. The FAFSA or Free Application for Federal Student Aid is the application for all federal, need-based awards, including the Pell Grant, Perkins Loan, subsidized and unsubsidized Stafford Loans, and Federal Work-Study Program. The FAFSA is also used to determine eligibility for federal and state scholarships, and many campus-based awards.

Complete other forms required by your school. Most private colleges and universities require the Financial Aid Profile (in addition to the FAFSA), which provides an in-depth assessment of your family's financial situation.

Meet all deadlines! If you miss a deadline, get your forms in as soon as possible. The later you wait, the less likely you are to receive assistance.