Scholarships

Being a tremendous athlete or the valedictorian isn't the only way to land a scholarship. That helps, of course, but it isn't the final word on who obtains scholarships. There are millions of dollars in scholarships offered each year. Certainly all those students didn't fit those categories. How did they get the money? They dug in and did some research. Here are some basic facts that can help you understand the big picture a little better -

There are four major sources of scholarships:

• Federal government
• State government
• Post secondary institutions (endowments, etc.)
• Private sources (businesses, service clubs, fraternal and religious organizations)

Most scholarships fall under one of the two categories:

• Need-based scholarships are based on family income, savings, assets, etc. About 90 percent of scholarships are need-based.
• Non-need or merit-based scholarships are granted based on academics, musical talent, athletic ability, community service, etc. Regardless of family income, only about 10 percent of scholarships are non-need based.

Aside from doing some research on the Internet (see our Links page for additional help), keep your eyes and ears open and apply for every scholarship for which you are eligible. Here are a few other tips to pick up some extra cash for school:

• Apply for all scholarships for which you are eligible. You may not get a particular scholarship that you do apply for, but you'll never get a scholarship that you don't apply for.
• Pay attention to deadlines. Applying late will eliminate you from consideration.
• Visit your high school guidance office regularly to check on the latest scholarship opportunities.
• Every little bit helps: apply for small grants, too. A cash-strapped student can always put $100 toward the cost of books.

• www.collegenet.com - Apply for scholarships online and search by age, academics, ethnicity, interests, nationality or sports participation
• www.fastweb.com - Frequently updated. Receive e-mail updates on new scholarships
• www.findaid.org - Information on numerous scholarships