I have met with many parents who have received their financial aid award which included student loans. In our discussions about the financial aid process, it is not uncommon to hear “we are going to wait and apply for scholarships.” I would like to share some important tips in navigating the scholarship process:
- Never pay to apply for a scholarship – If you are looking for money you shouldn’t be paying money.
- Scholarships have requirements and deadlines – If you don’t meet the requirements or have missed the deadline you automatically will be out of the pool for consideration.
- Scholarships are basically “free” money and in order to be considered typically you have to do something (application, essay, etc).
- If you do receive a scholarship chances are it will not be enough to cover all your college costs.
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