(InvestigateTV) — Around 61% of college students used scholarship funds to help pay their college expenses in 2022-2023, according to Bankrate.com
One way to find available scholarships and grants is by applying for the Free Application for Federal Student Aid (FAFSA). However, families and students are having to look for alternative ways to find money for college due to program delays this year.
Robert Farrington with The College Investor said about 50% of all scholarship dollars come directly from universities and colleges. He said the other half comes from a variety of sources, including local communities.
“And this is where it gets hard. There are thousands and thousands of small and medium size organizations across the U.S. that give scholarships to students,” Farrington explained. “Some of these are unions, or your parent’s company, or you know local organizations, charities, volunteer groups. There are just so many different small organizations that might give smaller scholarships, but you have to do the work and apply for them and find them.”
There are numerous apps and search engines that help find scholarships. Farrington said some of the popular ones are Scholly, FAST Aid or Bold.org. The College Board and the Department of Labor also have scholarship search tools.
“The trouble is these search engines find the biggest scholarships. They’re also the ones that most people apply to because they’re easily found on these sites,” Farrington said. “So, they’re the hardest ones to get. If you are looking for a scholarship, really start locally, start in your own town and own organizations and groups that you might be connected with.”
Farrington shared several tips to maximize the odds of landing a scholarship:
Look for scholarships tied to potential majors. A lot of organizations support those entering a new career field and may be available.
Apply to as many as possible to increase the odds of landing one.
Continue to apply in sophomore, junior and senior years of college.
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