How to Score Free Money for Your College Education
Did you know there are people waiting to give you money for college? All students have to do is fill out a few forms! The state of Arkansas, the federal government, many local organizations and even departments at the college you’re eyeing — they all have scholarships, grants and programs just waiting for you to claim.
Fill Out the FAFSA
The Free Application for Federal Student Aid is your only shot for federal dollars like the Pell Grant, which offered up to $5,920 for 2017-18. The amount you get is based on financial need, cost of attendance and enrollment status. There’s also the Federal Supplemental Educational Opportunity Grant for students with the most financial need, which can range from $100 to $4,000 per year. In either case, grant money you get is yours, free and clear
Fill it out at FAFSA.ed.gov as soon after Jan. 1 as possible, which means parents will need to file their taxes ASAP since there’s a limited pool of grant and scholarship money and it’s first come, first serve. Remember, you’ll have to reapply every year for federal aid and some state scholarships, so take notes on the process and have any important documents handy so you’ll be good to go next year.
Apply for the Academic Challenge Scholarship
Funded by the Arkansas Scholarship Lottery, the Academic Challenge Scholarship is available to students whether just graduating from high school, currently enrolled in college, enrolling in college for the first time or re-enrolling after a period of time out of college.
The scholarships are available for two-year and four-year college students. The payout varies annually based on Arkansas Scholarship Lottery revenue, but has been as high as $5,000/year to as low as $1,000/year (for four-year college students).
Starting with the class of 2016, the only requirement is a 19 on the ACT or ACT equivalent score and a completed FAFSA application. The application deadline is June 1 and more information is available at MyArkansasLottery.com.
Use the YOUniversal Scholarship Application
Go ahead and figure out if you’re eligible to receive 20 different scholarships by simply filling out the handy YOUniversal Scholarship application from the Arkansas Department of Higher Education.
You don’t have to wait until you’ve been accepted to a college or are a senior. As soon as you’ve taken the PLAN or PSAT, or even the real deal ACTs or SATs, visit the site (or use the handy dandy cell phone app) and plug in your GPA and test scores to see how many of the 20 government-funded scholarships you’re eligible for.
YOUniversal will even show you where you need to improve to get more money when you apply for the eligible scholarships in January of your senior year. Head to ARK.org to find out more.
Dig for Independent Scholarships
There are lots of scholarships available for different degrees — like engineering or journalism department scholarships for engineering or journalism students. And there are some scholarships for different types of students — for different ethnicities, for students who are transferring in from another state or another college and more. Some may be small, but they add up!
Your guidance counselor will be able to point you in the direction of any local scholarships. Check out scholarships given by businesses, and ask your parents if their workplaces offer any financial aid for children of employees. Sites like ARCF.org, FundMyFuture.info, Fastweb.com and FinAid.com are all great places to look for more money. When you start looking at listings, make sure you’re checking out a reputable source. Real scholarship applications don’t have fees attached!