Searching For Scholarships and Grants

If you're looking for a way to pay for your degree program, scholarships and grants are great places to start. Both forms of financial aid do not have to be repaid and are available from a wide variety of sources.

Scholarships and grants can be need-based or merit-based. Need-based scholarships and grants are given to students who demonstrate a specific level of financial need. Merit-based scholarships and grants are awarded to students who meet the donor's criteria, such as academic achievement, community service, or athletic ability.

Grants

Grants are financial awards given by the government or by a foundation. Government grants are given based on factors and standards explained in the U.S. Department of Education's Free Application for Federal Student Aid (FAFSA). Examples of government grants are the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), and the State Student Incentive Grant (SSIG).

Scholarships

Scholarships are a specialized type of financial aid, usually given to students who excel in academics, athletics, or artistic fields. They are also available to students in underrepresented groups or those who demonstrate financial need. Examples of prominent scholarships are the Goldwater Scholarship for students in math, science, and engineering and the Udall Scholarship for students pursuing careers related to the environment.

Who Gives Out Scholarships and Grants?

• Individual schools award funding through admissions directors or financial aid offices.
• Charities, foundations, businesses, and community organizations often hold scholarship competitions, sometimes based on essays.
• Organizations such as employers, the military, unions, and religious groups may offer scholarships to members.
• State Departments of Higher Education offer programs for residents who attend in-state schools.

How to Find Scholarships and Grants

• Ask your local bank manager, who will know about regional opportunities.
• Check for listings at public libraries and in local newspapers
• FedMoney.org lists grants from the U.S. government.
• Students.gov provides information about governmental and private grants and scholarships.
• FastWeb and Scholarships.com allow you to search for private-sector scholarships and find funding based on your qualifications.

Do your research, and you'll be sure to find plenty of scholarships and grants that are available to you. Depending on your income and your skills, you may even qualify for enough scholarships and grants to fund your entire education.

Sources
Federal Student Aid
U.S. Department of Education FAFSA
Nationally Coveted College Scholarships, Graduate Fellowships and Postdoctoral Awards