When it comes down to crunching the numbers for your education, it can be a daunting task. With universities and colleges demanding heavy amounts of tuition money as well as payments for room and board, it seems like student debt will never come to an end. However, there is an abundance of resources available to help provide you with the money you need to complete your education. Scholarships are a great way to support a student’s education, there are a plethora of resources available to provide students with financial support.

When Should You Apply for Scholarships?

It’s never too early to start researching options for scholarships; however, Federal Student Aid advises students to start looking for scholarships preferably the summer after their junior of high school. Not all scholarships have the same deadline and rules—some may require information and submissions a year before starting college. Do not get discouraged if you have not started looking and you are a senior, there are plenty of scholarships with deadlines that have not been hit yet.

What are the Types of Scholarships?

Ultimately, it comes down to how many scholarships your prospective school will accept and how much money they are willing to give out to each student. Depending on your prospective school and your academic performances, there are various types of scholarships that are available for the taking.

• College-based scholarships
• Private scholarships
• Merit-based scholarships
• Need-based scholarships

Many colleges offer some form of scholarship from their private funds to be awarded on top of any additional federal aid you may be receiving. When reviewing applications, most colleges will assess if students are eligible for any merit-based scholarships based on their academic performances. While private scholarships require more digging and research to see what you are eligible for, these grants are usually issued by an organization, foundation, or service group. Need-based scholarships are awarded to those who show financial aid. Based on your family income, you are eligible for a multitude of scholarships.

How Do I Find Scholarships?

It is extremely important to verify the websites that are offering certain scholarships and make sure they’re legitimate. There are plenty of ways to learn about scholarships, including contacting the financial aid office at your potential college, or even just at the public library or online. Other sources could include, but are not limited to:

• A high school guidance counselor
• Federal agencies
• Libraries
• Professional organizations
• Employers

Whichever source you choose, remember that you do not have to pay to search for scholarships or any other financial aids. Check out more information about how to search for degrees and academic grants on TestPrepScore.com.

How Does a Scholarship Affect Other Financial Aid?

It is implored that you stay in contact with your college or university when applying for scholarships. The money you receive from a scholarship, plus the money you receive from your school cannot be more than the cost of your college’s tuition. You will need to let your school know that you have been awarded a scholarship so that they can subtract any costs from your attendance to the school along with any additional loans or aid that they might have offered.

Whether you apply for a scholarship that might cover the entire cost of your education or just a few hundred dollars, it’s worth applying. Scholarships can help reduce the cost of your education leading to less student debt and a more financially sound future.