🏫 When it comes to college funding, every little bit helps.
Outside scholarships can play a crucial role in covering the gap between your budget and college costs.
In this episode of Women’s Money Wisdom, Ann Garcia CFP® gave us some great information about outside scholarships. Ann is the author of ‘How to Pay for College’ and runs the College Financial Plan Masterclass.
🎯 Here’s how to maximize your chances of securing outside scholarships:
👉 Start Close to Home
Many students flock to big online databases like FastWeb or the College Board to search for scholarships. These are great resources, but the downside is that they’re also highly competitive.
Instead, start your search locally! Your high school’s college and career center is a treasure trove of scholarship opportunities that are often only open to students in your area.
👉 Look for Niche Scholarships
Think about your interests, hobbies, and activities. Many organizations offer scholarships to students who participate in specific extracurricular activities or belong to certain groups. 🎟️
For example, some high schools have scholarships for members of the tennis team or the debate club. Don’t overlook smaller, niche scholarships – they can add up!
👉 Apply Early and Often
Outside scholarships are often one-time awards, so it’s important to keep applying throughout your college years. Even after you’ve enrolled in college, continue to search for and apply for scholarships. ⏰ Many colleges also offer departmental scholarships that you might be eligible for after your freshman year.
👉 Leverage Your Network
Talk to teachers, coaches, and community leaders who might know about scholarship opportunities. Sometimes, the best scholarships are the ones that aren’t widely advertised. 🧲
Although these scholarships might not cover the full tuition, they can be the difference between taking out a loan and graduating debt-free. 🎉
Want to hear more tips on financial planning for college? Tune in to our Women’s Money Wisdom podcast episode 221!
