According to Bankrate.com, over 61% of college students used scholarship cash to cover college fees in 2022-2023.
Applying for the Free Application for Federal Student Aid (FAFSA) is one approach to learn about eligible scholarships and grants.Due to program delays this year, families and students are forced to seek alternative sources of funding for college.
According to Robert Farrington of The College Investor, institutions and colleges provide approximately 50% of all scholarships. He claims the remaining half comes from a variety of sources, including local communities.
“And this is where it gets hard. There are thousands and thousands of small and medium size organizations across the U.S. that give scholarships to students,” Farrington explained. “Some of these are unions, or your parent’s company, or you know local organizations, charities, volunteer groups. There are just so many different small organizations that might give smaller scholarships, but you have to do the work and apply for them and find them.”
There are numerous apps and search engines that help find scholarships. Farrington said some of the popular ones are Scholly, FAST Aid or Bold.org. The College Board and the Department of Labor also have scholarship search tools.
“The trouble is these search engines find the biggest scholarships. They’re also the ones that most people apply to because they’re easily found on these sites,” Farrington said. “So, they’re the hardest ones to get. If you are looking for a scholarship, really start locally, start in your own town and own organizations and groups that you might be connected with.”
Farrington gave three methods to increase the chances of winning a scholarship:
Look for scholarships that relate to potential majors. Many organizations encourage persons starting a new career and may be available.
Apply to as many as possible to improve your chances of landing one.
Continue to apply during the sophomore, junior, and senior years of college.