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Let's be real here. College is expensive. Your parents and you might have some money put away to cover some or all of the expected costs. However, have you checked? Do you have money put aside? Have you really thought about how you and your parents will swing the expenses?
While you might love Duke at $64K per year, are you ready for what a life of student loans might mean? Any student loan means you can't take risks with your future, can't take a year off after college, can't take a job with the low-paying but exciting startup. Planning on graduate school? Medical school? Might it be better to choose a less expensive option and save money for your future? You've got some real decisions to make. Here's some advice to help. |
Scholarships
Scholarships are a great way to offset the cost of college. There are two main types of scholarships: merit-based and need-based.
Merit-based Scholarships
Merit-based scholarships are a fantastic way to offset the cost of an education. Merit-based scholarships are reserved for exceptional academic, athletic, or community-service minded students. One ForWord student earned over $50 thousand in merit-based scholarships to offset her college expenses, enough to cover more than two years of her public school education. There are some tricks of the trade to know to take the most advantage of the merit-based scholarship process, and a ForWord Consultant can walk you through many of those. However, as an overview, there are two many types of merit-based scholarships: private scholarships and institutional scholarships.
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Institutional Scholarships
These are merit-based scholarships offered directly through a specific university. Each university has a select set of scholarships available to entice students to attend their university. The strong you are as a student, the more money a school might offer. However, it is imperative you understand the rules of earning and keeping these funds. ForWord can help maximize these offers. Here's a list of just a few institutional scholarships |
Private Scholarships
Private scholarships are merit-based scholarships offered outside of a college. They can be based upon a variety of characteristics including membership in specific organizations, religious communities, banks, beliefs, activities, or locations. There are countless ways to find private scholarships including websites like FastWeb and Scholarships. However, these sites have so much information, you're best off getting guidance for an experienced counselor about how to maximize your opportunities. Just note that each private scholarship usually requires an essay, transcript, letters of recommendation, and completed form. Here's a video that will walk you through some fundamentals for finding scholarships |
Need-based Scholarships
All students, regardless of need, should have access to college. Students with demonstrated need have access to dedicated routes for financing college. Demonstrated need is determined by the federal government. To receive need-based scholarships (and aid), you must fill out the FAFSA and/or the CSS Profile by the priority filing deadline as determined by your university.
However, just because the government determines you have demonstrated need, this does not mean they will give you all of the money you need. Many universities will also give you need-based funding. They use the numbers from the FAFSA and CSS Profile and combine it with their own formula to determine your funding.
If need-based aid is an essential element of your college selection, please work with your a counselor to understand your funding options. There are so many variables to consider when selecting a final school, and having a professional help you is essential to this process, as outlined below.
All students, regardless of need, should have access to college. Students with demonstrated need have access to dedicated routes for financing college. Demonstrated need is determined by the federal government. To receive need-based scholarships (and aid), you must fill out the FAFSA and/or the CSS Profile by the priority filing deadline as determined by your university.
However, just because the government determines you have demonstrated need, this does not mean they will give you all of the money you need. Many universities will also give you need-based funding. They use the numbers from the FAFSA and CSS Profile and combine it with their own formula to determine your funding.
If need-based aid is an essential element of your college selection, please work with your a counselor to understand your funding options. There are so many variables to consider when selecting a final school, and having a professional help you is essential to this process, as outlined below.
Scholarship Presentation
If you've been to one of ForWord's scholarship presentations, here's a copy for you to review.
Armed-Forces Scholarships
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Scholarship Scams
You should be wary of paying to receive a scholarship or award.
Better Business Bureau: Scholarship scam avoidance—A student considering using a for-fee scholarship advice service can research the company on the Better Business Bureau. The U.S. Department of Education Office of Inspector General: To report scholarship scam complaints for victims of financial aid fraud. Scholarship Scams: Current information on scholarship scams Don't Get Scammed on Your Way to College: Federal Trade Commission site that lists ways to detect scholarship scams |
Scholarship Searches
Student Scholarship Search: A low-pressure site full of great information.
Scholarship Search Secrets: This pdf book written by Christopher Penn outlines some methods for finding scholarships. Nerd Wallet: Easy to use, no spam or registration. |