Top 10 Best Scholarships for College Students

Introduction: Why Scholarships Matter for College Students

According to a Georgetown report, the cost of going to college has gone up by 169% since 1980, but young workers’ pay has only increased by 19%. College is now so expensive that it’s nearly unaffordable, but it’s still a key part of many people’s careers and personal growth. The good news is that there’s a way to make college costs more manageable: scholarships.

Earning a scholarship is one of the best ways to offset some of your college costs—mainly your tuition. Although there is other financial aid apart from scholarships for college, like loans, grants, and work-study, scholarships remain the most ideal.

Consider this real-life success story of Javier Sarmiento.

“Growing up in Harlem with a family that struggled financially, paying for college felt impossible. I couldn’t cover the costs myself or take on loans. So, I decided to go all-in on scholarships.

Starting in my junior year, I applied to dozens of them and worked hard all summer of 2019. Even though I faced many rejections, I didn’t give up. By 2020, I finally snagged my first $500 scholarship, which led to more awards.

In total, I earned $13,000 in scholarships, covering all my college expenses and graduating debt-free. This journey taught me a lot about perseverance, and now I’m ready for whatever comes next.”

Ian is only one of the many proofs that scholarships for college students will make a huge difference.

College scholarships do more than just help with your current finances. They, in fact, significantly help increase the value of your degree. In many cases, it helps you land more job offers.

Both need-based and merit scholarships lower the risk of taking on student loans, which is one of the top barriers to success after graduation. A Gallup-Purdue University study found that college grads without student loan debt are happier and more successful in their personal and professional lives. They reported feeling better about their community, finances, and health.

In this post, we will explore the best scholarships to apply for. We’ll focus on merit-based scholarships because more are available than need-based ones. We’ll also touch on how to find and apply for these scholarships effectively to maximize your chances of success.

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How Do I Apply for Scholarships?

When you start to apply for scholarships, we suggest starting by completing the Free Application for Federal Student Aid. The FAFSA is used for applying for financial aid from the government, universities, and private organizations.

FAFSA applications open on October 1 and close on June 30 each year. It’s best to apply early because schools often give out money on a first-come, first-served basis. You need to prepare the following materials:

• Your Social Security number
• Your driver’s license (if you have one)
• Your most recent tax returns
• Records of untaxed income
• Bank statements
• Records of investments
• Your parents’ financial information (if you’re a dependent)

After completing the process, you’ll need to wait for the Student Aid Report (SAR). This could take a few days to a few weeks. While waiting, you should explore more options.

Several private organizations offer free scholarships for both undergraduate and graduate students. Searching for them can be manageable when you know which scholarship websites to look for and how to prepare for them. Yet, they can often be more competitive.

Here are a few practical tips on how to find scholarships:

Ask your financial aid counselor.

Before you stress out about how to get scholarships from private organizations, you should consider checking in with your college’s financial aid officer. Counselors can help you find local scholarships from service clubs, businesses, nonprofits, religious groups, and more. Local scholarships often have less competition than national ones, so you might have a better chance of winning them.

Check national scholarship databases.

National scholarship databases can quickly match you with scholarships based on your personal circumstances, saving you time. If you’re concerned about sharing personal details, you can search these databases yourself. Most are free, but some might charge fees. Here are a few of the top and most trusted websites to find college scholarships in 2024:

• College Board
• Fastweb
• Bold.org, Inc.
• Chegg
• Cappex
• Peterson’s
• Scholly
• Niche
• Going Merry
• Unigo
• Scholarship America
• ScholarshipOwl
• Jlv College Counseling
• Studentscholarships.org
• The College Board’s Scholarship Search

Here are a few reminders when applying for scholarship opportunities for college:

1. Gather application materials early: Start early to avoid a rushed, incomplete application.
2. Don’t ignore small awards: Small scholarships and grants can add up, and they often have less competition.

There’s always a great chance that you won’t win academic scholarships even if you think you’re qualified. But it’s important never to lose hope. Keep applying, even if you don’t win right away. Save copies of your applications for future use.

What Are Merit-Based Scholarships and Why Are They Important?

Did you know there are more merit-based graduate and undergraduate scholarships than need-based ones? Merit-based scholarships encourage students to exert more effort in their studies rather than just to attend.

There are two main types of merit-based scholarships:

• Offered by colleges and universities. They can be directly awarded, like athletic, academic, or arts scholarships, and can be really helpful for specific programs.
• Offered by private organizations. These programs are usually based on essays or other application criteria.

Here’s a breakdown of merit scholarships:

1. Academics

• GPA/Grades: Good grades can help you qualify for academic merit scholarships.
• Majors: Scholarships for excellence in specific fields or honors programs might be available.
• Test Scores: High SAT or ACT scores can also be a key factor in winning merit scholarships.

2. Extracurricular Activities

• Athletic Scholarships: For students excelling in sports, various scholarships are available.
• Artistic Scholarships: If you’re talented in visual or performing arts, there are scholarships for you.
• Community Service: Involvement in community service can be considered for merit awards.
• Leadership Activities: Showing leadership in clubs or teams can boost your chances.

3. Other Factors

• Community Service: Volunteering and helping out in your community can lead to merit scholarships.
• Leadership: Demonstrating leadership skills through roles or programs can be advantageous.

The key to standing out in scholarship applications is maintaining good grades and staying involved in school or community activities. This combination will not only qualify you for more free scholarships for college but will also highlight your dedication and allow you to build a strong profile for the job market.

Top 10 Best Scholarships for College Students

Eager to find scholarships? Here are the ten best scholarships to apply for in 2024. We’ve listed them from the largest to the smallest grants and scholarships amount of money available.

#1 QuestBridge National College Match Scholarship

• Amount: Over $200,000 (full cost of attendance)
• Description: Supports high-achieving students from low-income families to attend top colleges.
• Eligibility: High school seniors, US citizens, and top 5-10% of their graduating class.

#2 The Gates Scholarship

• Amount: Over $200,000 (full cost of attendance)
• Description: Helps Pell-eligible students from minority backgrounds with strong academic and leadership records.
• Eligibility: High school seniors who are Pell-eligible. They may be African-American, American Indian, Asian American, or Hispanic-American.

#3 Morehead-Cain Scholarship at the University of North Carolina

• Amount: 100% tuition and funded activities
• Description: Provides full tuition, enrichment programs, and a network of scholars.
• Eligibility: US or international students must be nominated by their high school. They must apply to UNC-Chapel Hill and the scholarship program.

#4 Nancy Susan Reynolds Scholarships at Wake Forest University

• Amount: 100% tuition and stipend
• Description: Awarded to outstanding academic and creative leaders with demonstrated community involvement.
• Eligibility: High school seniors who demonstrate academic excellence, leadership, and creativity.

#5 Rhodes Trust Scholarship at Oxford University

• Amount: 100% tuition
• Description: Prestigious scholarship for graduate studies at Oxford, focusing on exceptional academic and leadership qualities.
• Eligibility: US citizens who hold an undergraduate degree and have demonstrated academic excellence and leadership.

#6 Fulbright Commission Post-Graduate Scholarship Awards

• Amount: 100% tuition & living costs
• Description: Supports US students pursuing graduate degrees in the UK to foster cultural exchange.
• Eligibility: US citizens who hold a bachelor’s degree and not currently residing in the UK.

#7 Trustee, Presidential, & Dean’s Scholarships at USC Dornsife

• Amount: Up to 100% tuition
• Description: Offered to students demonstrating academic excellence, leadership, and community service at USC.
• Eligibility: US and international students must apply to USC by December 1. They must demonstrate academic and leadership qualities.

#8 Davidson Institute Fellows Scholarship

• Amount: $10,000, $20,000, and $50,000
• Description: For students with extraordinary talents in fields like STEM or the arts, aiming to make a significant impact.
• Eligibility: Applicants must possess exceptional talent in specific areas. The application varies by category.

#9 GE Reagan Foundation Program

• Amount: $10,000 (renewable up to $40,000)
• Description: For student leaders who exhibit strong leadership, integrity, and citizenship.
• Eligibility: US citizens who are high school seniors and plan to enroll full-time in a bachelor’s program.

#10 Horatio Alger Association National Scholarship

• Amount: $25,000
• Description: For US students with financial needs who have overcome personal adversity and demonstrate leadership qualities.
• Eligibility: US citizens who are juniors must demonstrate financial need and show how they overcame significant challenges.

Tips for Increasing Your Chances of Winning a Scholarship

Securing student scholarships can be hard. A single scholarship for college students can have over a hundred applicants, and out of your ten list of scholarships, you can be lucky enough you win at least two 2024 scholarships.

Here are a few tips on how to increase your chances of winning when applying for scholarships:

1. Write a great essay: This is very important to secure scholarships in 2024. Address the essay question thoroughly, proofread for errors, and make it personal.
2. Meet all application deadlines: Use a calendar or planner to efficiently monitor your timely submission of the requirements. You can become diqualified if you miss a deadline.
3. Sing your praises: Highlight your achievements and strengths confidently to stand out in the college scholarship screening process.
4. Secure strong recommendation letters: Choose recommenders who can highlight your strengths and address your weaknesses, avoiding family members.
5. Seek professional help: Ask your school counselor for a tailored approach on how to get scholarships for college.

Conclusion: Start Applying Early and Don’t Give Up!

The best technique on how to get a scholarship for college is to begin the process early and remain persistent. College scholarships and grants will always be intimidating as you’ll always be competing with students more talented than you.

If I were you, I’d really start with the school’s financial aid counselor and ask what scholarships near me are available. Often, these professionals can connect you with local scholarships you can’t find online. After getting professional advice, you can begin your research using the trusted websites mentioned above.

Apply for as many scholarships for current college students as you can. Yet, focus on those that match your qualifications and experiences.