Thursday, August 12, 2010

What About Scholarships?

We’ve talked quite a bit about how to save money for college. But keep in mind that scholarships can also help pay for your college expenses. Although there are more options available for students with top grades, academic scholarships are not your only option. Scholarships are offered for a variety of factors in addition to academic performance, such as athletics, volunteer work, minority status, field of study, or even overcoming adversity. Typically, you do not have to repay scholarships and grants.

There are numerous Web sites with information about scholarships and financial aid. For example, and contain information about thousands of scholarships. In addition, provides an overview of federal student aid programs, including Pell Grants, campus-based aid programs, Stafford Loans, PLUS Loans, and others. Also, offers a free scholarship search targeted to the student's profile. Don’t forget, your local library and high school guidance office may have information about state-sponsored aid programs and scholarships sponsored by local organizations.

Parents: Financial aid can be a valuable source of funds to help finance your child’s college education. Don’t assume you won’t qualify. Read “What About Financial Aid for College?” to learn more.