You may not be aware that there are thousands of available scholarships for students every year. These scholarships range from providing a fully covered ride to school to partial payment-type scholarships. But any of these types of scholarships would be useful to obtain when it comes to help for paying for an expensive education.
Basic Tuition Costs Breakdown
According to the National Center for Education Statistics, during the 2018-2019 school year, students paid a net price of $13,900 at public institutions, $27,200 at private nonprofit institutions, and $23,800 at private for-profit institutions. Additional statistics to note:
- The net price includes annual costs of tuition, room and board books and fees.
- To afford college many students apply for financial aid through FAFSA to determine eligibility from school state or federal government.
- Most families qualify for some form including student loans which enable many families to afford college tuition though they need to be paid back with interest.
- Taking out loans may be necessary for some but it’s important that understand the long term financial impact. At end of 2021 graduates had an average debt of $31,100.
Let’s face it, college can be a major financial burden for many students, and finding ways to fund their education can be a major challenge. Fortunately, there are numerous types of popular scholarships available to assist in this process. For example, academic scholarships are often awarded based on academic achievement or potential. Additionally, some colleges offer merit-based scholarships for students with unique talents or abilities, such as artistic or athletic prowess. Other scholarships may focus on factors such as ethnicity, gender, and economic background. It is important to note that these scholarship opportunities are not limited to traditional four-year academic institutions; vocational and technical schools often offer similar options as well. Regardless of the specific criteria, it is worth considering all available options as a way to defray the cost of higher education. Below you’ll find a comprehensive list of scholarships that are available to students looking for specific types based on their situation and/or qualifications.
We have listed below several of the most prominent kinds of scholarships that are currently available.
1. Academic scholarships
If you have an excellent grade average/GPA, the chances of getting a full, or close to full, scholarship are very good. These types of scholarships usually require at least a 3.5 to 4.0 grade average. If you are in your junior year of high school there are still plenty of opportunities at hand to increase your grade average. A simple rise of a couple points can mean the difference between a full or partial scholarship.
Academic scholarships are awarded to students based on their academic achievement, and usually do not require repayment. Academic scholarships can come from a variety of sources, including universities, colleges, private organizations, and government agencies. They can be used to cover tuition, books, and other expenses associated with higher education. Academic scholarships are an excellent way to finance your education, and can help you reach your academic goals.
Some common types of academic scholarships include:
- Merit-based scholarships
- Need-based scholarships
- Minority-based scholarships
- First-generation college student scholarships
- Scholarships for specific majors or areas of study
2. Athletic scholarships
If you are a star athlete, once again, your chances of finding a full scholarship are very good. Even if you aren’t the best player in the world, it is typically very easy to get an athletic scholarship if you meet the basic requirements for a school. Keep in mind that these scholarships will generally require you to keep a certain grade average to maintain their funding.
Athletic scholarships can also be a valuable asset for both the athlete and their school. Athletic ability can open doors to higher education opportunities, allowing talented athletes to pursue their academic passions while also pursuing their athletic talents at the collegiate level. Athletic scholarships also bring recognition and prestige to a school’s athletics program, helping to attract top recruits and boost success on the playing field. However, it’s important to remember that athletic scholarships are just one piece of the puzzle when it comes to college admissions. Students should aim for a well-rounded application, with strong academics and extra-curricular activities in addition to athletic talent. Athletic scholarships can provide amazing opportunities, but they shouldn’t be the sole focus of a student’s college plans.
Here are a few types of athletic scholarships available:
- The National Collegiate Athletic Association (NCAA)
- The National Association of Intercollegiate Athletics (NAIA)
- The Junior College Athletic Association (NJCAA)
- Division III of the NCAA
- Other college athletic scholarships from specific schools or conferences
3. Scholarships based on your major
If you are planning on becoming a doctor, or you want to major in a technical field, there are many different private companies that offer scholarships to students. You will need to maintain your major in order to keep the funding, but this is a great way to augment or completely cover the funding for your college education.
There are many scholarships available for students based on their majors or areas of study. These scholarships can come from a variety of sources, including universities, colleges, private organizations, and government agencies. They can be used to cover tuition, books, and other expenses associated with higher education. Scholarships based on majors or areas of study are an excellent way to finance your education, and can help you reach your academic goals.
Some common types of scholarships based on majors or areas of study include:
- Science, Technology, Engineering, and Mathematics (STEM) scholarships
- Humanities scholarships
- Business scholarships
- Healthcare and medical scholarships
- Teaching scholarships
- Art and design
4. Low income scholarship or Need-based Aid Scholarships
Need-based aid scholarships provide financial assistance to students whose families cannot afford the full cost of their education. These scholarships are often determined by a student’s family income, and can cover a portion or all of a student’s tuition and other expenses. Need-based aid can also come in the form of grants, which do not need to be repaid. Need-based aid scholarships are crucial for increasing access to higher education for students from low-income backgrounds, offering them the opportunity to pursue their academic and career goals. Additionally, studies have shown that recipients of need-based aid are more likely to graduate from college than those who do not receive such assistance. Need-based aid scholarships serve as an important tool in tackling economic inequality within higher education and providing equal opportunities for all students.
If you are a low income student, there are numerous programs that are available to ensure that you get a high quality education. The Federal government offers several different programs and schools may offer these options as well. Do some research before selecting a school to see if they offer students from poor families a chance at a full scholarship. Even middle class students can benefit from these scholarships.
5. Merit Aid Scholarships
Merit Aid Scholarships are often awarded to students who have demonstrated academic excellence, leadership abilities, and/or a commitment to their community. These scholarships can come from a variety of sources, including universities, private companies, and nonprofit organizations. Merit Aid is typically given in addition to need-based financial aid, making it a valuable resource for students who may not qualify for need-based aid but still require financial assistance with the cost of their education. Merit Aid can also serve as a recruiting tool for universities looking to attract high achieving students. Ultimately, Merit Aid Scholarships provide an opportunity for outstanding students to pursue their educational goals without incurring as much financial burden.
6. Identity-based Scholarships
Identity-based scholarships are a valuable resource for marginalized communities, helping to provide equal access to higher education. These scholarships take into account underrepresented identities, such as race, ethnicity, gender, LGBTQ+ status, and disability, in their selection process. Identity-based scholarship funding may come from universities or colleges themselves, or from external organizations dedicated to supporting students with specific identities. Although they have been met with controversy in the past, as some individuals believe that they promote reverse discrimination, identity-based scholarships also offer opportunities for students who may have otherwise faced barriers in achieving their academic goals. Overall, these scholarships provide a crucial source of support for diverse student populations and contribute toward increased representation in higher education.
Conclusion
The process of applying for scholarships can be daunting, but it is worth it in the end. By doing your research and being prepared, you will increase your chances of winning a scholarship. There are many different types of scholarships available to students, so there is sure to be one that fits your needs. If you take the time to apply for scholarships, you may be surprised at how much money you can earn to help pay for college.
