Although good grades are a common requirement for receiving a scholarship, they are not a guarantee. Scholarships are awarded based on a variety of factors, some of which are too numerous to list. Some scholarships are awarded solely on the basis of merit. In other words, your or your parents’ financial situation is irrelevant. In fact, you may be asked not to mention financial need on a merit-based scholarship application. Other scholarships, such as state aid, are frequently need-based, which means that parental income is the most important factor for the average first-year college student.
Both federal and state scholarships in most US states are almost always based on the income of the parents. This is the part that many students and parents find frustrating and annoying. Students whose parents earn slightly above, below, or slightly above the poverty line can typically expect the highest scholarship amounts, especially if their grades and SAT scores are excellent. Parents with middle-class incomes, on the other hand, may be given “parent contribution amounts” that are unrealistic.
Normally, federal aid is based solely on parental income and student performance. It doesn’t take into account parental debts, previous earnings, the need to support other children, or realistic living costs in specific areas of each state. This could mean that a family with three children and an annual income of 60-70,000 USD could be asked to contribute as much as $10,000 USD to a child’s education. This frequently exceeds the capacity of the parents. Furthermore, a student with average-income parents may be offered only student loans rather than a state or federal scholarship.
So, how can a student who hasn’t saved for college deal with this? Even if the chances of receiving state aid remain slim, good grades certainly help. Second, it’s critical to conduct thorough research on merit-based scholarships. Fastweb is a great resource for finding scholarships. Consider your college options in light of available scholarships. Some colleges and universities have more money to give and better scholarship opportunities for incoming students.
Starting your search for scholarships and schools the summer before your junior year of high school is a good place to start. Working summer jobs and saving money for the first year of college can also be beneficial. Look for jobs at companies like Wal-Mart that provide students with scholarship opportunities. They might also be able to help you transfer and work near your college.
You might also think about going to a community college for two years, where the costs are much lower. Community college can be an excellent way to reduce cumulative debt when you finish school, especially if you have to take out loans to pay for college and can’t get a scholarship. If you get good grades, you can often get enough small merit scholarships to cover all of your community college costs.
Most importantly, keep working hard to improve your grades. Although they do not guarantee you a scholarship, almost all merit-based and many need-based scholarships are awarded partly or entirely on the basis of a higher grade point average. There’s no reason not to try, but keep in mind that while many high school programs emphasize good grades as a means of getting into college, they don’t always take into account the student’s ability to pay for college.