Friday, June 6, 2014

The Truth About Scholarships

“How can I win a scholarship?”
It’s a frequent question in the college planning world. Students and parents have all sorts of wild ideas about how to “win” a scholarship. There are a lot of myths and assumptions about scholarships, based on an observation of who might be receiving large awards in your midst. But aside from some basic steps, there is no magic formula to landing that free ticket to college.

Scholarships are earned
First of all – students don’t “win” scholarships. Scholarships are EARNED – based on the criteria of the award.

Not just for low income or minorities
Secondly – while it’s easy to jump to conclusions that scholarships only go to low income minorities - that is idea is not true. Scholarships go to students who actively pursue them. If it seems like scholarships in your area are all going to low income minority students, think for a minute about what demographic is going to be working the hardest to earn a scholarship.

Middle income families
Over the past 20 years or so, I have seen plenty of middle to upper-middle class students accept scholarships and grants at UCs, CSUs and private colleges, along with  many schools outside of California.  These are students who made scholarship application a priority. Students who earn scholarships are typically those who set aside a few hours each week to search, prepare and apply for scholarships. They worked at it.

Parents’ message about college funding
I’ve counseled with hundreds of parent/student teams planning for college in all economic groups. Frequently I’ve heard parents say, (in the presence of their teenagers) “Whatever it costs, he’s going to college.”  When a parent clearly assumes total responsibility for paying for college – the student is not going to make scholarship application a priority.

So what’s the secret?
Apply – The only thing I am sure of, is that if you do not apply for a scholarship, you will not receive it.

Search for the right scholarships.
Do your homework and research scholarship possibilities. Don’t waste time on scholarships if you are not well qualified for their criteria. Do spend time on those where you shine.

Prepare for the application.
Nearly all scholarships will require at least a couple letters of recommendation and a transcript. Order transcripts now, and get letters of recommendation secured. Make several copies of both. An organized high school resume’ will also be helpful and can usually be inserted into an application.

Present a theme about yourself
Students who develop a theme on their scholarship application will benefit by showing their passion and potential in a field of study or career interest. My observation after administering over a half million dollars in scholarships is that students who declare a major are viewed to be stronger scholarship applicants. So even if you are planning to enroll as an undeclared major, for scholarship purposes, I suggest that you at least declare an area of interest.  

File for Federal and State funding
To receive any college or university scholarship/grant - students must file a FAFSA, even for merit awards that do not use financial need as criteria. 

Decide how important the money is
Several of the CSUs and many private colleges offer merit scholarships, designed to recruit high achievers away from the UC or other top tier universities. These are usually from colleges that are not on the radar of a high achieving student.

 If money is a defining factor for college, consider applying to a CSU or private or out-of-state college that is willing to pay you to attend. Usually these awards are called “President’s Scholars” or something similar and information about them is readily available on the college financial aid websites.

While no one should attend a college simply because of funding, students may find honors programs or opportunities within a less prestigious school,  that are a very good fit for their academic goals.

There are no guarantees
While I have enjoyed watching hundreds of students accept scholarships during my career, I have also witnessed great students, with tremendous potential, disappointment in not receiving scholarships.

Have a backup plan
Sometimes, there is no reason or logic in scholarship selection and it can be very disheartening. Parents and students must be realistic about how much of their college expenses can actually be covered by scholarships or student loans,  and how much the family can afford to pay on its own. This can be a difficult conversation, but it’s far better to decide on a backup plan now (this might include to live at home and attend a community college) rather than the night before the intent to register deadline.

Bottom line
Students who are emotionally invested in the scholarship process, and willing to spend time on the preparation and application, are the students who receive scholarships.