Many parents and students believe the myth that a student can fully pay for college tuition with just a few scholarships. Unfortunately, this is not the case. While scholarships can definitely be useful and can go a long way toward paying tuition, it's extremely rare that they cover the entire cost. Scholarships are gift aids that allow students to pay for college without the obligation to reimburse.
While scholarships may not cover the full cost of your education, applying for the right scholarships can save you a significant amount of money. Anyone can be eligible for a full scholarship, depending on their background, skills and experience. Most students earn full scholarships because of their academic record, sporting prowess, leadership, or merit. But schools can offer other types of these scholarships for different reasons, and they can be offered by the school, the state or federal government, or by private organizations.
Full-tuition scholarships are the holy grail of college scholarships, awards that will cover most college costs for four years. These scholarships can cover the tuition costs of all your living expenses, according to the terms determined by the provider. While these scholarship opportunities are rarer than others and tend to involve stiffer competition, they are available for application. The money you earn from scholarships can be a real game-changer, because that money never needs to be repaid.
So, once you've earned it, it's yours to pay for college. Although not considered a real method of paying for school, another strategy that is becoming increasingly popular (especially in the midst of this pandemic) is for students to enroll in a community college for one or two years and then transfer to a four-year college or university. It may seem obvious, but a key part of paying for college with scholarships is filling out the application correctly, on time and in full. Throughout my four years of college, I was able to earn some extra money, mostly through summer internships, but I also had a part-time job at an event center one semester that helped offset some of the costs of my next semester abroad.
This is a recommended first step for all students and families who want to estimate the net cost of a college education. Corporate and foundational scholarships generally give students more freedom to attend the college of their choice, including private universities or out-of-state schools, while receiving scholarship money to cover most, if not all, of their tuition costs. Full scholarships cover the cost of tuition and more, eliminating the difficulty of paying for an education. The great thing about federal work-study programs is that they encourage students to seek part-time employment in an area related to their area of study, while giving them an additional way to pay for college.
Scholarships, needs-based grants, savings, student loans, and work and study are just some of the ways families and students can pay for college. Student loans can be applied for at any time of the year and are useful for paying for textbooks, special classes or summer periods and additional living expenses. If you are in high school, in addition to being considered for federal grants through the FAFSA process, you will also find out once the universities you applied to respond to whether or not you qualified for any of their specific scholarships. You should only reapply for private student loans if you have reached the maximum in terms of what you can receive through federal loans and you still have outstanding college costs that cannot be covered by any of the other methods mentioned above.
So, if you're in high school and you're worried about paying for your higher education, consider this as an option to reduce some of those costs. There are other ways students pay for college, which may be easier than relying on the possibility of a full trip. While the award varies from student to student, the purpose of the College Scholarship Program is to cover most or all of the cost of education. Applying for private scholarships can be a great way to earn some extra money to help you pay for college.