When your child is in high school, you're likely to hear college counselors talking about the wonders of college scholarships. You may also see stories in the media about college freshmen who won thousands of dollars in scholarship money, with the average scholarship or grant aid per undergraduate in 2023–2024 being $11,610.

All that can make it sound like it's not impossible to get a full ride to the school of your dreams, so long as you follow the right steps. However, most college applicants and their parents soon discover that winning big scholarships isn't as easy as it can sound.

How to Get a Full-Ride Scholarship

The full-ride scholarship is the ultimate wish list item for college-bound students and their parents, but it's only a reality for a few. A child who's making national headlines for athletic skills, musical virtuosity, scientific discoveries, or academic achievements may be on track for schools offering full rides or at least very enticing award packages.

When it comes to full-ride scholarships, it's not enough for a student to have a 4.0 GPA or be captain of the soccer team. Universities look for diverse individuals who stand out among their peers. Most students won't meet the criteria.

That said, there are still plenty of partial scholarships, private scholarships, and 澳洲幸运5官方开奖结果体彩网:other types of aid that can help defray college costs.

Unfortunately, many students never even 澳洲幸运5官方开奖结果体彩网:apply for scholarships due to concꦇern over their grades, lack of athletic skills, race, or family income. While there are many scholarships directed toward individuals with particular skills or specific ethnicities, there are hundreds of other scholarships out there. Beyond freshman year, there are also scholarships designed for transfer students and sophomore, junior, and senior-year students.

According to the most recent "How America Pays for College" report from the lender Sallie Mae Bank, 64% of college students received some amount of scholarship or grant money in 2023–2024.

How the FAFSA Can Help

For students with average athletic ability and academic performance, aid is still available, most of it through the 澳洲幸运5官方开奖结果体彩网:Free Application for Federal♔ Student Aid (FAFSA). Based on the information you supply regarding your income, assets, and other factors, the FAFSA computes your 澳洲幸运5官方开奖结果体彩网:Student Aid Index (SAI) toward college. If your SAI is less than the cost of attendance (COA) at a particular college, the school's financial aid office will attempt to bridge the gap with grants, 澳洲幸运5官方开奖结果体彩网:subsidized or unsubsidized f🎐ederal l𒐪oans, and paid work-study jobs.

Grants and scholarships represent money that you never have to repay. Federal loans do have to be repaid, but they tend to have low interest rates and flexible repayment terms compared with money you b♎orrow from a bank or othe𒐪r private lender.

While grants and subsidized loans are limited to students with "exceptional financial need," unsubsidized loans are available to students and parents regardless of need. So no matter how much money you earn or have in the♒ bank, the FAFSA is worth filling out. State and local governments, private scholarship sources, and the colleges themselves can also use the FAFSA in determining their awards. 

For example, many colleges award so-called merit🎉 scholarships out of their own funds in order to compete for desirable, if not nec♛essarily stellar, students.

Don’t Write Off Smaller Scholarships

While far from full rides, smaller scholarships from local organizations, professional societies, and other groups can be useful. Typically in the range of $50 to $500, they could cover a semester's worth of textbooks or lab fees. Many times, a smaller scholarship will have fewer requirements and be less competitive. Additionally, these smaller scholarships are usually paid directly to the student rather than the school itself, which makes it possible to use them for a wider range of costs.

Ask your child’s high school college counselor for more information about local scholarships and to recommend some trustworthy scholarship directories. Also ask the potenti♏al schools on your list about their available awards and funding. Your local library and your city’s chamber of commerce might also have information about scholarships you can apply for.

Beware of Scholarship Scams

Millions of dollars of scholarship money go unclaimed each year—or so they say. Don’t let 澳洲幸运5官方开奖结果体彩网:scam companies use this dubiou✤s stat to entice you to use (and pay for) their services.

When researching scholarships, you will likely come across shady businesses that offer their “expert" services to help you find scholarships. Some may even guarantee that they can get you scholarships in return for a fee.

Never pay money for a scholarship search or to apply for a scholarship. Every legitimate scholarship is accessible through free means, such as the sponsoring organization's website. And, whatever you do, never give your credit card number or other personal information to one of these outfits.

The Bottom Line

While only a few people are given full-ride scholarships from the schools they want to attend, many people are able to piece together smaller loans, scholarships, and grants to cover the cost of their education. Take the first step by filling out a FAFSA—without it, schools can't determine your eligibility for student aid of any sort. Also, look for resources in your community. Less competition may give you the upper hand and help you pay for your education.