What About Scholarships?

Another way to help finance higher education is to obtain scholarships.  Have you heard the phrase, Millions of scholarships go unclaimed every year?  Is it true?  This idea has been around for many years.  According to the College Board, the source of this claim was from an old study that looked at "the theoretical amount of funds available from private organization-companies, associations, unions and so forth."  The comparison then does not really mean that scholarships go unclaimed.  The question is would most students qualify if they did apply to some of the more obscure scholarships? (left-handed, parent member of specific organizations, etc) 
It is common for families to start the scholarship search when they learn that they have not received enough in grant money, which is too late. 

The hunt for scholarships should start early and searching should happen often.  

Follow these hints to help you successfully search for scholarships.

Start Early - The scholarship search process can happen as early as the freshmen year of high school (However, scholarships exist for elementary and middle school student as well).  High school seniors should continue looking for scholarships all throughout the senior year and again even after entering college.  Take a couple of hours each week and continue weekly until you feel comfortable with covering the college's costs.

Do Your Research - High school students should check in with their guidance office- high school seniors should check every week.  The guidance office is where a large amount of the scholarship information can be found.  Also check with libraries, parent's place of employment, civic and college prep organizations, and go online.  A number of good scholarship websites are available - here are a few:  Education Planner, Scholarships.com, Scholarship Experts.com, and Fast Web.

Work Closely With The College Financial Aid Office - If you apply and are awarded outside scholarships, many colleges view that as money your family is contributing to your educational costs.  The amount of outside scholarships you are awarded can have an impact on any grants, scholarships or loans awarded by the college.  Work with the financial aid office to help you understand what will happen if you are awarded outside scholarships.  Also be sure to communicate your family's circumstances to help the financial aid office make the best financial aid decision for you.