It’s not too late to find college scholarships
As baseball Hall of Fame philosopher Yogi Berra famously noted, it’s not over till it’s over.
That’s especially true if your high school senior is looking for scholarships to reduce the burden of paying for college.
Given that the average cost of college for public and private schools is more than $35,000 per student annually — including tuition, books and supplies, room and board, and daily living expenses — every scholarship dollar means one dollar less you must repay on student loans, according to the Education Data Initiative.
While colleges are in the thick of mailing college acceptance and financial aid letters, it’s still not too late to apply for scholarships, said Kevin Ladd, chief operating officer at Scholarships.com.
“Early and often is sort of my credo regarding scholarship searches,” Ladd said. “Don’t wait until May or June and let even more scholarships pass by the wayside.”
Where to start
Forget about those big money scholarships from corporations and large foundations that you so often hear about. At this late date, it’s a waste of time and energy. Those deadlines have long passed, and the winners have been recognized.
But many scholarships and grants are still available from local businesses and foundations, religious groups and service organizations like Kiwanis.
I volunteer annually in the spring to read essays and recommendation letters for several nonprofits that offer scholarships. One of the most common complaints from administrators is that they have money to give but not enough applicants.
What a shame.
I recommend your student talk to his or her high school counselor to see if there’s a list of scholarships still available in your community for the fall of 2023. Corralling several $500 or $2,500 scholarships will help cover any funding gaps you’re still looking to cover beyond the financial aid package the college has awarded.
Which brings me to Step 2: Talk to the financial aid office at the college you’re planning to attend. Have any more scholarships or grants — yes this is money you don’t need to repay — turned up? What about work-study programs?
Make sure that any of these scholarships your student wins will take the place of student loans, Ladd said.
Here are some additional scholarship shopping fundamentals from Ladd.
Never pay money to find scholarships. If there’s a fee to apply, pass on it. There are plenty of free services available.
Sort the scholarship matches you like best by their deadline and keep track of ones you have applied for. Scholarship. com, for example, has features on its website that helps students keep track.
Work smarter, not harder. “Knock out the ones that are about to expire first,” Ladd said, “particularly the ones that don’t take as much of your time.” Also, see if you can use any of the requirements from one application, such as essays and letters of recommendation, for one or more of the others.
Once you’ve completed the applications on your top-priority scholarships, move on to the next batch that may fit your needs. “Just make sure you are keeping track of everything so you don’t miss out on free money for college,” Ladd said.