Need based scholarships are given to students who show financial need. These awards determine eligibility based on family income. Financial need may come from filling out the FAFSA. About 58% of low income families used need based scholarships in 2019, according to a Sallie Mae study. A scholarship is a monetary gift. you typically do not to pay back the funds compared to a student loan. So receiving a scholarship may make college more affordable.
10 Scholarships for Financial Need You Should Apply for
There are plenty of need based scholarships for college students. Start your scholarship search with these ten awards. Then look for more scholarship opportunities based on your goals, major and interests.
GE Reagan Foundation Scholarship Program
Dell Scholarship Program
Jackie Robinson Foundation Scholarship
Jeannette Rankin Women’s Scholarship
UNCF Koch Scholarships
Smith College Need Based Financial Aid
Anarcha, Betsy, and Lucy Memorial Scholarship Award
AKA Educational Advancement Foundation Graduate Financial Need
National Association of Hispanic Nurses Scholarships
Educational Opportunity Fund (EOF) – Graduate Student Grant (NJ)
How Do You Qualify for Need Based Scholarships?
To qualify for need based scholarships, the first step is to fill out the FAFSA. The Free Application for Federal Student Aid is a standard form to determine financial aid. The federal government, states and colleges use it. FAFSA forms are available on October 1st so make sure to apply by the deadline.
The FAFSA asks questions about family income, taxes, and other assets. This helps find what you are able to pay or your expected family contribution (EFC). You also list the colleges you applied to and the cost of attendance. Based on the math: COA minus EFC equals your unmet financial need. Keep in mind that tuition may vary over time but your EFC could stay the same.
Here are some general eligibility requirements for need based scholarships:
Full time enrollment status
U.S. citizen or legal resident
Plans to attend an accredited two or four year college in the United States
Have a high school diploma or GED
With all these factors, there are need based scholarships for students majoring in certain subjects. UNCF STEM Scholars Program is one example. This award is for Black high school students. You must have at least 3.0 GPA and plans to pursue a STEM career.
What is the difference between need based and merit scholarships?
Need based scholarship is given to family assets and income while merit scholarships are based on academic success. The main goal of need based aid is to make college more affordable for low income families. Your GPA and test scores may not be a factor in receiving financial need awards. Assuming need is not a criteria, undergraduate students of all income levels may also qualify for merit scholarships.
Merit scholarships are for high achieving students. They look at academic achievements. You typically need a strong GPA and test scores in order to qualify. Other criteria such as community service, leadership, and other talents could help you earn a merit award.
Where Do You Find Scholarships Based on Financial Need?
Many high schools, colleges, companies and nonprofits provide need based college scholarships. Federal and state governments also offer financial aid based on need. You should also look for local awards within your community. Your scholarship search should include awards based on your academic achievements, major, and personal interests.
The Jack Kent Cooke Foundation College Scholarship Program is for high school seniors with financial need. Eligible students may receive up to $40,000. You must be attending a four year undergraduate school. Many Cooke scholars exhibit a 3.5 GPA or higher and participate in community service projects. If you are selected, you may work with an education adviser. You also may attend a Scholars Weekend event in Washington D.C.
Jeannette Rankin Women’s Scholarship Fund is for women over 35 years old who show unmet financial need. JRF Scholars may receive up to $8,000. The award empowers non traditional students to pursue undergraduate program or trade skills certification.
Federal and State Government
The U.S. Department of Education offers need based aid as grants and work study. Once your school’s financial aid office has your FAFSA, it uses your EFC to make you an offer. It’s also called an award letter. It states the types of aid available, total amounts and outstanding cost. The letter may state a college scholarship especially if you’re a first year student.
This is the largest need based federal grant program. Amounts change but the maximum amount is $6,345 for the 2020 to 2021 academic year. According to Sallie Mae’s How America Pays for College 2020 report, 48% of families relied on grants to pay for college. Although grants are renewable, you may have to keep up with the terms and reapply each year.
This program allows eligible students to earn money to pay for school through a part time job. As a rule, you must apply and interview for these jobs. You may find on campus or off campus work. Some typical work study jobs include office assistant, lab research, cafe worker, and others.
Some colleges offer TEACH Grant eligible programs. If you’re enrolled as an undergraduate, post bachelor’s or grad student at one of these schools you may qualify. Eligible applicants need a 3.25 GPA and must sign a service contract. This states that upon graduation, you agree to teach in a high need field, full time and at a school that serves low income students. In return, this federal grant provides up to $4,000 per year.
Many states have a certain amount of need based grants. You may have to fill out a FAFSA as well as state form and be accepted to a public four year college in your state. Just make sure to meet all application deadlines since they may differ.
Stars Scholarship Fund awards scholarships annually to academically talented and highly motivated students who intend to pursue full-time undergraduate, graduate or doctoral degrees. Stars Scholarship Fund recipients represent every level of higher education and all fields of study, as we award students of either genders, any ethnicity, religion, and background.
The Legislative Incentive for Future Excellence (LIFE) Scholarship is a merit-based scholarship program administered by the financial aid office at each eligible public and independent college and university in South Carolina. The LIFE Scholarship may be used towards the cost of attendance for up to eight terms based on the student’s initial college enrollment date. Students must be enrolled in their first one-year program, first associate’s degree, first two-year program leading to a baccalaureate degree, first baccalaureate degree, or first professional degree
Applying for a Stamps Scholarship is easy: just apply to one or more of our partner schools. If you qualify, you’ll automatically be considered for a Stamps award. The majority of our partner colleges and universities don’t require a separate application for the Stamps Scholarship, but the application deadline and award process varies from school to school along with the amount of the award. Expect an interview (or two or three) to be part of the process.
Each year over 3,000 students receive a Berkeley Undergraduate Scholarship, funded from one or more of our nearly 900 university and private philanthropy funds. There is no application process other than applying for financial aid by completing the Free Application for Federal Student Aid (FAFSA) or the California Dream Act Application. If you are looking to positively impact the next generation of students and help support their future, you can do so by giving today.
The Thurgood Marshall College Fund (TMCF) and varying partners are proud to offer COVID-19 emergency financial assistance to students attending one of TMCF’s 47 publicly-supported Historically Black Colleges and Universities (HBCUs) or Predominantly Black Institutions (PBIs). Students selected will receive an emergency award of up to $1,000 for the 2021-2022 academic school year. Funding is intended to allow students to meet their needs and continue their education. Funding is available until the funds are exhausted or until the end of the summer term 2021, whichever comes first.
Students seeking their first degree in architecture from an NAAB-accredited school in the State of New York are eligible. The dean or chair of the architectural school shall nominate up to two students from their respective college or university to apply. Nominated students will have a high level of academic performance and evidence of financial need. The financial need of each student shall be determined by the guidelines of the Financial Aid Officer of the school nominating the candidate. Students need not be U.S. citizens.
The award is designed for special learning opportunities related to the recipient’s career interest in a non-performance area of theater. Examples include but are not limited to professional conferences, seminars, workshops, participation in an unpaid internship program, professional performances, or technology needs.
The award will be administered by the Education Department of Blumenthal Performing Arts. To draw from the “award account,” the recipient must submit a simple but formal request to Blumenthal’s Education Department. It is possible for a recipient to utilize the entire award amount within the first year of college or to occasionally draw from the account as opportunities arise within a four-year undergraduate career. If the total amount of the award is not used during the undergraduate experience, the award recipient will not be entitled to a cash settlement upon graduation. Any amount remaining in the award account will be forfeited.
When you qualify for financial aid from Harvard, we use a combination of resources to create an individualized aid package to meet your demonstrated need. This may include scholarship funds and student employment, as well as any awards you’ve earned from outside sources. Parent and student loans are also available for interested families.
Because Harvard is committed to affordability, our scholarships are designed to cover 100% of your demonstrated financial need. Here is our process:
-First we determine your award by establishing your parent contribution
-Then we factor in student employment and any outside awards you’ve received
-Your remaining need will be covered by scholarship funds which are grant-based and never need to be repaid
Scholarship funds come from a variety of sources, including Harvard endowment funds, gifts from alumni, general tuition revenues, and federal and state grants.
This award is available for U.S. graduating high school seniors who have been residents of New Mexico for one year or more and attend a New Mexico high school. Students must have a grade point average of 3.0 or higher, be Native American with a blood quantum of 25 percent or more, and participate in high school varsity-level sports.
This award is available to New York resident undergraduate students who are enrolled part-time at an eligible postsecondary institution in New York. Students must demonstrate financial need and must meet the income and asset limits set by the NY State commission.
