College Counseling: Financial Aid

Scholarships

Several types of scholarships and grants are made available to our students: academic, athletic, talents, private funds. Information received from colleges and outside sources will be posted on our Bulletin Boards and on the Counseling Department website. Almost all colleges offer some type of scholarship program but very few mail the information to high schools. Thus, your best source of information is the college web site. Also, the book that was mailed to you last Spring, Don’t Miss Out, is an excellent source for you to review.

 

Regardless of the type of scholarship or grant, you must know whether the school offering it has a Need-Based or Merit-Based policy.

 

Need-Based Scholarships

The size of need-based scholarships and grants is determined by the college’s policy using some official methodology (FAFSA, PROFILE, etc.). Thus, two students with identical accomplishments may receive different awards based on family income.

 

Merit-Based Scholarships

The size of merit-based awards is a function of a college’s evaluation of a student’s individual merit, regardless of financial considerations.

 

The following list covers most of the common merit scholarships:

• Academic scholarships are offered using objective criteria—SAT scores, GPA, activities. The school catalog will list the criteria for these awards, whether they are guaranteed to all students meeting these requirements, whether they are renewable, etc.
   
• Athletic scholarships are offered by coaches at Division I and II institutions, and they are strictly governed by NCAA policies. It has been our experience that most of the scholarships are available in the revenue producing sports (football and basketball). However, many of our student/athletes can receive academic scholarships if they qualify.
   
• Talent/leadership scholarships allow schools to attract students who they feel will add significantly to campus life (artists, musicians, actors). Often these grants will involve an audition or a competition. Some grants reflect the Mission Statement of the school, e.g., a scholarship for leadership in Service activities, community accomplishments, etc.
   
• Privately funded awards range from those initiated by national companies (Toyota, Coca Cola) to local organizations like civic or business groups. The Chronicle of Higher Education has consistently pointed out that the time spent pursuing these awards may not be worth the effort, since the percentage of successful applicants is very small. The authors state that by far the largest source of financial aid is from the colleges themselves and they feel that students should not assume they will be receiving any substantial aid elsewhere.