Scholarships and Grants Resources for Students

For many students, scholarships and grants offer the only options of paying for rising costs of academia. Whether the desired curriculum is found at a private undergraduate school, a technical school, a college or university, or a post-graduate field of study, many financial aid opportunities are available. If students apply themselves toward a diligent search for academic funding, they can often open the door to educational possibilities that would not exist without outside financial help.

Typically, assistance is categorized as either merit-based or need-based. Need-based financial aid considers the student’s and/or the students’ parents’ ability to pay educational expenses based on income. Merit-based funding is awarded based primarily on academic achievement; for example, receiving high scores on the SAT or ACT combined with high academic marks from a student’s current course of study. Merit-based scholarships and grants can also be awarded for talent-based achievement, like that found in music or sports. Sometimes merit-based assistance is also awarded for a student’s civic achievement.

Depending on the amount of a specific award, funds can help defray – or sometimes pay entirely – costs for tuition and fees, room and board, and books and supplies. One of the earliest college grant programs began in 1972. At that time the Basic Educational Opportunity Grant (or BEOG, later renamed the Pell Grant), offered many college-bound students the chance for higher education that was not previously available to them. This benchmark collegiate grant paved the way for other higher-learning financial aid awards.

By definition, most scholarships and grants do not require repayment by their recipients, although some awards may apply conditions that do require repayment if minimum standards of academic achievement are not met. Conversely, student loans and work-study programs do carry repayment terms. Low-interest loans for students require repayment of monies while work-study programs require in-kind repayment. Bearing this in mind, students may be more motivated to pursue scholarships and grants to help subsidize their costs of education.

It is advised that students (or students’ parents) submit numerous applications for different types of financial aid. Once filing deadlines are past, students are unable to apply to other programs if they are declined by the only program for which they initially applied. Financial educational assistance is available at the federal, state, and local levels. College and career counseling services are available in high schools, technical schools, and at universities. These services offer free consultations, advice, and assistance in applying for funding. Adults who did not attend college after high school, but who wish to pursue higher education later in life, can attend classes at local continuing education centers. These classes can help develop a skill or help direct the adult student into a course of study with the goal of obtaining a college degree.

With a determination to pursue scholarships and grants to help fund academic costs (scholarships for high school seniors is also an option) – coupled with a solid game plan – students of all ages can realize their goals of higher education. Free career counseling and free assistance in finding the best financial aid programs based on students’ needs are available to help students toward their goals. When completing applications for assistance, attention to detail complying with filing deadlines can eliminate the frustration and heartache of a denied application. Whether the prospective student is a teenager bound for college or an older adult entering college for the first time (or returning to college to pursue a higher degree), financial aid programs are there to help achieve academic goals as well as scholarships and grants.