Different Types of College Scholarships

4 Forms of College Financial Support

Types of college scholarships, grants, and sponsorships!

3rd PARTY SCHOLARSHIPS —

“Free” Money (usually) given by organizations (usually) directly to the college for direct college costs.

• Colleges REQUIRE that the FA Office be notified if a scholarship is awarded to a student

• Usually, the check is written out to the College

• Nearly always, colleges first apply the scholarship to Student Direct Loans ($5,500 the first year) – Remember every college will offer 1st year students $5,500 student direct loans

• CA private colleges:  After the LOANS, scholarships are applied to lower the CAL Grant before going to the student – Magically, there is nothing left for the student! (smiles) – CA State Law requires it.

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3rd PARTY SPONSORSHIPS —

“Free” Money (usually) given by a FEW non-profit organizations (usually) directly to the STUDENT for indirect costs.

• Student is NOT required to report SPONSORSHIPS to colleges after their FA AWARD

• It’s like a bunch of people get together and agree to give a student money for college in a specified/organized manner

• It’s often accidentally and mistakenly called a “scholarship’ and it does ACT/FEEL like a scholarship

• West Angeles has a SPONSORSHIP FUND…..for church members and for ACTIVE HIGH GPA, regularly attending (non-church member) program participants

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INSTITUTIONAL NEED-BASED GRANTS —

“Free” Money (usually) given by colleges to “themselves” to lower direct college cost. $$$$ do not REALLY change hands!!

• Each year in college financial need is re-assessed from FAFSA and the Need-Based Grants (NBGs) will go down or up

• For CSU and UC, NBGs = CAL Grants, University Grants and Pell Grants for incomes < $48,000 for 3 family members

• SOME Private Colleges and Universities also award NBGs; HBCUs do not!  Both HBCU and PWI’s do award Federal Pell Grants (Maximum = $6,495)

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INSTITUTIONAL ACADEMIC MERIT-BASED GRANTS —

”Free” Money (usually) given by colleges “to themselves” based on the student’s ACADEMIC MERIT (GPA and SAT/ACT) 

• Lowers direct college cost. $$$$ do not REALLY change hands!!

• Some Colleges’ “scholarships” (i.e. Western Public Colleges, SPU & GCU) are Easier to Get than from Other Colleges’

• Hardest to Get: Private Colleges – including HBCU and UC’s

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APPLY FOR THESE NEW SCHOLARSHIPS –