Paying for College
Play video

Scholarships provide another funding source for your college financial plan. Like grants, they do not have to be repaid.

Merit Award Scholarships
Colleges and universities offer scholarships for many reasons—high grades, sports achievements, community service.

Named Scholarship Awards
Colleges and universities offer named scholarships—donations made by wealthy graduates or other supporters of the college. Each college administers criteria for these awards, based on academic achievement or promise.

Scholarships Earned by Academic Merit
Every college or university has a catalog of merit scholarships available to students who take the initiative to qualify. These merit scholarships are performance-based awards for academic initiative. At many colleges and universities, the most prestigious merit scholarships will cover most of the entire cost of attending college. The less prestigious merit awards will usually cover tuition or a some part of total costs. Check the Web site of the college you want to attend to see what they offer.

Resources
A good place to research the variety of scholarships available is with the college or university’s financial aid office or at www.fastweb.com .

Scholarships That Are Not Strictly Merit-Based
Many scholarships established by graduates choose criteria other than grades. If a donor wants to help students who have graduated from a high school in a specific town or county, the criteria may call for a student be in good standing. Other scholarships may be based on special talents such as music, art, performance, or athletic ability. There are even scholarships available to students with a certain last name or who lives in a specific town. Check the Web site or ask at the financial aid office.