SCHOLARSHIP 101

TOPICS COVERED

• Review Types of Aid
• Scholarship Cautions
• How to Get Started
• Resources
• Staying Organized

TYPES OF AID

• Grants (need-based; free money)
• Work Study (work on campus; part of fin. aid)
• Educational Loans (pay back)
• Scholarships (don’t pay back)
• Need-based Scholarships
• Merit-based scholarships
• Affiliation, Essay & Other Scholarships

SET PRIORITIES

• College app deadlines approaching soon
• Some Early Action deadlines give “full consideration” for scholarships
• 90% of merit aid comes direct from the institutions
• Most merit aid is determined by the app for admission
• Some scholarships require a separate app (U of M: 92)
• Some have one scholarship application (Normandale)
• More need-based aid than merit-based aid is available
• Fill out FAFSA (and CSS Profile if needed) ASAP
• Some schools require this to be considered for their scholarships

CONFLICTING INFORMATION

• “There are millions of dollars of unused � scholarship money.”

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• What the stats say…
• 25% of college students received money from scholarships and grants (Sallie Mae, 2021).
• Of the students who were awarded scholarships, 97% receive $2,500 or less (Kantrowitz, 2020).
• Furthermore, only 0.2% of students receive scholarships worth $25,000 or more (Unigo, 2021).
• 50% of students who were awarded private scholarships experience scholarship displacement. Meanwhile, 62% of schools reduce institutional grants, 55% reduce student loans, and 24% reduce student employment (Kantrowitz, 2021). [stacking vs. unstacking]

�MERIT-BASED SCHOLARSHIPS�

• Some of the most competitive schools do not offer merit-based scholarships. Check websites.
• Colorado College
• Carelton College
• Determine if college will allow “stacking” scholarships.
• Some schools are transparent about method for determining merit aid, most are not.

Michigan State Merit Aid

WASHINGTON STATE UNIVERSITY

NORTHERN MICHIGAN UNIVERSITY

NON-INSTITUTIONAL SCHOLARSHIPS

• Most non-institutional scholarships open up December-February
• Merit only vs Merit/Need combined
• Criteria usually stated clearly
• Essay and perhaps teacher recommendation
• Teachers can modify LOR for admission
• Most private scholarships range $1000-$5000
• Renewable vs non-renewable

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SCHOLARSHIP SEARCH TIPS

• Spend your time on local scholarships!
• Odds of winning are greater because they’re open to a smaller applicant pool.
• Apply to scholarships with small awards
• Money adds up, so apply for the little ones too!
• More work= fewer applicants= better chances
• Students typically shy away from harder applications so your chances of winning are better.
• Get personal
• Tell your story, stand out and give personal details.
• Submit early
• Don’t wait until the deadline in case there’s a problem with the website.

SCHOLARSHIP CAUTIONS

• Don’t rush!
• give yourself time to meet timelines
• if it requires a letter of rec, you should give teachers at least two weeks notice
• Read the requirements carefully
• Follow all guidelines - they are not flexible
• i.e. 300 words, not 301
• Do NOT enter sweepstake scholarships
• they are just trying to get your info

WHERE TO START

• Your chosen college
• go to the Fin. Aid/Scholarship page at your school; some are automatic based on merit or need; others require applications�
• Organizations you or your family are connected to:
• Parents’ employer or student employer (i.e. Target)
• Church or religious affiliation
• Club/organization affiliation (i.e. Scouts, NHS)�
• Private Scholarships recommended by WHS
• We know our students have gotten these or they reach asking us to advertise

OTHER RESOURCES

Visit CCC website for other scholarship info:�

• College Board (AP Test? Have an account!)
• Cappex / College Greenlight
• Niche
• Unigo
• Fastweb
• Scholarship America

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*Some of these require an account before you can see scholarships & will only show you scholarships that you are eligible for.

WALLIN SCHOLARSHIP

Wallin Scholarship (www.wallinpartners.org/apply)

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4 year school scholarship ($16,000):

• Due: February 1st, 2023
• Minimum 3.0 GPA
• Attending a 4 year school in MN, WI, ND, SD, IA, or any HBCU
• Family taxable income of $75,000 or less

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2 year school scholarship ($8,000)

• More info to come in the winter!

Sign up for a Wallin Info Session in the WHS CCC on November 29th, 2022 at 10:30am

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STAYING ORGANIZED

Create a system for staying organized with deadlines & requirements! �

• Spreadsheets
• College Workbook

QUESTIONS?

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This presentation will be sent out in an email with links to the various information from this event.

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Thanks for attending!