If you are applying to colleges, you might want to try applying for financial aid from the specific schools you’re applying to. Financial aid can help lower the overall cost of your education. There are three types of financial aid: financial aid from the school you’re applying to, financial aid from the government, and financial aid from a third party. This article is going to be talking about financial aid from the school you’re applying to. There are generally two types of financial aid: merit and need based.
Merit scholarships are given out to students based on their merit, as in, because of the classes they’re taking, or the extracurriculars they’re a part of, etc. Merit scholarships are typically awarded in three categories: academics, athletics, and the arts. If you excel in any of these categories, you may be awarded a merit scholarship.
Academic scholarships are usually given out through an application process and athletic scholarships are generally given out by colleges or their scouts approaching you. Arts scholarships may be either application based or the college may send scouts to a performance/event. There are also merit scholarships that take into account both your academics and your extracurriculars. These scholarships are typically very competitive and will usually require a longer application.
Need based scholarships are scholarships given out to families based on the amount of tuition they can pay. Need based scholarships are calculated by subtracting the Expected Family Contribution from the Cost of Attendance. This means that it is calculated by taking away however much your family can pay from the total cost it takes to go to that school. Most need based scholarships are awarded through FAFSA, and you can find an article on what FAFSA is and how to apply to it here. Most colleges are different in how many scholarships they provide and what kind they are. Please check the websites of the individual schools you are interested in for specifics on that college.
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