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.
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
INSTITUTIONAL NEED-BASED GRANTS —
“Free” Money (usually) given by colleges to “themselves” to lower direct college cost. $$$$ do not REALLY change hands!!
Each year in college financial need is re-assessed from FAFSA and the Need-Based Grants (NBGs) will go down or up
For CSU and UC, NBGs = CAL Grants, University Grants and Pell Grants for incomes < $48,000 for 3 family members
SOME Private Colleges and Universities also award NBGs; HBCUs do not! Both HBCU and PWI’s do award Federal Pell Grants (Maximum = $6,495)
INSTITUTIONAL ACADEMIC MERIT-BASED GRANTS —
”Free” Money (usually) given by colleges “to themselves” based on the student’s ACADEMIC MERIT (GPA and SAT/ACT)
Lowers direct college cost. $$$$ 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
APPLY FOR THESE NEW SCHOLARSHIPS –
