If you thought that the Pell Grant could provide you with a substantial amount of aid for your higher education you should be glad to hear that there is another kind of financial aid instrument that also doesn’t have to be paid back, and can actually award you with more aid than what even the Pell Grant, and other federal grants can give you. The type of aid I’m talking about here are scholarships, and if you enjoy receiving financial aid that doesn’t have to be paid back, you must take into consideration these useful, and fascinating financial aid award instruments.
Most students have heard of scholarships before, but very few have a firm grasp on how to approach applying for them. This process can be whatever you make of it, and the real truth is that getting a scholarship will depend heavily on your credentials as a student, and your willingness to put yourself out there to fill out applications. Before you begin to think about applying for any particular awards, you should first get a grip on what a scholarship is exactly.
What Is A Scholarship?
A scholarship is essentially very similar to a grant in that it doesn’t have to be paid back, and while most educational grants are provided by either the federal, or state government, scholarships are provided by a long list of government, college, and independent third parties. Scholarships can range in value from only a few hundred dollars, to your entire cost of attendance, and most scholarships are given to students who exemplify some sort of unique trait, skill, or achievement.
The list of reasons why a scholarship may be given to a particular student is quite long, although some of the more popular awards are given to students who achieve academically, are athletically gifted, choose to enroll in a particular program of study, are part of a certain kind of organization, or choose to enroll in the military and still further their education. These are only a few of the more common reasons why you may be able to get a scholarship, and while most scholarships are provided to individuals for particular reasons, there are numerous scholarships available that will simply be contingent on your ability to successfully fill out an application.
Scholarships and the Pell Grant
Now that you have general idea about what a scholarship is exactly, you should be aware that getting a full scholarship, or a combination of scholarship aid that amounts to your cost of attendance can negate your ability to become eligible for the Pell Grant. The Pell Grant was designed to help students pay for their education-related expenses, and if you receive enough scholarship aid to pay for your entire cost of attendance, you will technically have no education-related expenses leftover, and thus not be able to utilize your Pell Grant aid.
You can use scholarship aid in conjunction with the funding you receive form the Pell Grant as long as you have room leftover once you subtract your scholarship money from your entire cost of attendance. If you do somehow get a Pell Grant in combination with a full scholarship and do nothing about it you may risk having a Pell Overpayment on your record, and thus be disqualified from receiving any sort of future federal student aid.
Getting a Scholarship
You actually don’t have to apply at all for some scholarships, as certain awards are given to students without the need for an independent application. Examples include many academic scholarships, various athletics scholarships, and even some departmental scholarships. By applying to college and submitting a FAFSA, you have automatically put yourself in the running for various scholarships, as many schools, and even the government will review your application in order to see if you qualify for any particular awards.
Other times you will have to apply independently for various scholarships. This should be done via a simple three-step process. First you should identify where you may be eligible, next you should research identify any particular awards that may be available, and lastly you should actually go ahead and fill out the specific application. There are a myriad of scholarships available, and the key is to examine where your interests are, and what organizations you may be involved in. Scholarships are a great way to get a lot of money for school, and if you have any further questions about these awards you should not hesitate to contact your college’s financial aid department.
