Plan Ahead to Get College Scholarship Money
The most important thing to keep in mind as you begin the research process to get college grant and scholarship money is to start your search early. While more options are becoming available for college-bound students and their families, the need for college scholarship money is also growing. A large amount of financial aid is handed out on a first-come, first-serve basis, and for this reason, it is crucial to plan ahead and fill out the necessary applications as soon as possible.
During a student’s sophomore year in high school, it is a good idea to begin gathering and organizing applications, recommendations, essays, test scores, and transcripts. In order to get college scholarship money, students will often need to include these credentials along with the application. It is also a good idea to begin saving for college as early as possible. Even if your after-school-job money only pays for your books, it will give you an advantage when you get to college.
While in your junior year, we recommend finding out when your high school is holding financial aid information seminars. These can provide even more insight as to the options available for obtaining college scholarship money. The more information you have, the better your chance of acquiring valuable financial aid.
Your senior year can be a hectic one when it comes to preparing for college. That is why it is important to get started right away. As early as November, you should apply for Free Application for your Federal Student Aid (FAFSA) pin number. In order to get college scholarship money, most schools require that you fill out the FAFSA so as to determine the amount of financial aid you will need. Follow this link for more information on filing the FAFSA for financial aid.
In January, you should start filling out the FAFSA. This information can be submitted by you or your guardian as early as January 1st. It is also a good idea to determine whether or not the schools to which you will be applying require any additional forms in order to get college scholarship money.
During the month of March, review your Student Aid Report (SAR) to verify that all of the information submitted with your FAFSA is accurate. You will also want to update any current tax information at that time.
You should receive your acceptance and financial aid award letters in April and review them to reveal which option best suits you and your family. It is important to remember the difference between loans and grant/scholarship money during your search. The difference is that loans are borrowed money which needs to be repaid whereas a college grant or scholarship is free money which does not need to be paid back.
Once you have verified which option will best meet your needs, sign and return your financial aid award letter during the month of May. You should also decline any additional award letters you received during your grant/scholarship search to schools you do not plan on attending.
Following this timeline will help to make your senior year a smoother one and give you a better chance to get the college scholarship you need, whether it is need-based or merit-based.
