A big part of college planning is figuring out how you and your family will pay for college. Don't let the cost of college restrict your search or discourage you from applying to more expensive colleges and universities – start applying for scholarships and grants. Unlike student loans, scholarships and grants are monetary awards for college costs that you don't ever have to repay.
Let’s go over how grants and scholarships differ.
Scholarships 101
Finding college scholarships takes time, but you owe it to yourself to apply for as many as possible, especially because this is money you will never have to pay back. Many college scholarships do have certain GPA or other academic requirements, though they are generally not needs-based. They may be awarded as a “one-time” gift for a given semester or renewed yearly.
A few of the most common types of scholarships include:
Athletic Scholarships are based upon athletic ability and departmental needs of your prospective college. Division I, II and III college scholarships are very difficult to receive due to fierce competition.
Academic Scholarships are based upon academic achievement as reflected in your college application.
Departmental Awards are given to students entering a specific program or pursuing a degree in a certain field of study, such as arts or foreign language.