What is one of the major concerns parents have when considering college for their children? COST-how much money will be required to see their student through college; and, it is a legitimate concern. Postsecondary students received a total of $123.8 billion in scholarships and grants in 2014-15. However, 2.9 billion dollars in federal grants went unclaimed in 2015-2016 school year because students/parents never applied.
However, there is good news! There is financial help available if qualifications are met. Our government provides money that does not need be repaid called FAFSA (Free Application for Federal Student Aid). This is income-based aid. The FAFSA is the key to being considered for federal, state and college need-based aid, including scholarships, work study jobs and loans. Get more information about the FAFSA at https://fafsa.ed.gov/.
Many colleges offer internal grants awards and grants. Merit-based awards are given to students bases on academic achievement and specializations such as sports, band, cheerleading etc.… Various departments offer scholarships to students in their majors. Alumni also donate funds to universities to support scholarships.
Lastly, private scholarships are available whether through local and state civic organizations, churches, families or other groups, these funds are given to colleges on behalf of the students who have received them.
Check out this article entitled “The Basics on Grants and Scholarships” for more information. https://bigfuture.collegeboard.org/pay-for-college/grants-and-scholarships/the-basics-on-grants-and-scholarships