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The Scholarship Fairy is Not Coming to Your House

The Scholarship Fairy is Not Coming to Your House

There’s no magic way to get free money for college, other than to apply and win scholarships. If you want to trim hundreds or even thousands of dollars from your college costs, take a look at these winning scholarship tips.

How to Find Scholarships

You can turn to your high school guidance counselor to ask about scholarships. Your high school might have a list of scholarships you can apply for. You also can check your local library, newspaper and local community foundation for scholarships listings. Even if the awards are just a few hundred dollars, that money adds up. Every dollar you win is about a dollar less you’ll have to borrow.

Tip: Not all scholarships are based on your GPA or test scores. Some are based on essays, leadership or achievements. If you’re not a strong writer, ask your English teacher or another adult to look at your essay.

Tips for Your Scholarship Application

First and foremost: keep a spreadsheet of all the scholarship deadlines. You cannot apply for a scholarship after its due date. You also need to include everything a scholarship asks for. If you’re asked to submit your SAT or ACT scores, financial information or letters of recommendation, you should have those things ready for the application.

Also, remember to proofread your application. In fact, you should ask a teacher or parent to review it. Make sure your application is perfect. And remember: if you used the essay for another scholarship, be sure that it doesn’t have the other scholarship’s name on it. That’s one of the more embarrassing mistakes that students sometimes make.

Another tip is to make copies of everything you send. If you're sending your scholarship application by mail, you may want to send it return receipt requested. If you're running late and are really close to the deadline, you will want to send your scholarship overnight mail.

Scholarship Scams

Scholarships never cost money. If a scholarship asks you to send money, it is a scam. You also should be on alert if a scholarship asks for unusual information, such as your credit card number or a Social Security Number. Never send information that could compromise your finances or identity.

If you have been the victim of a scam, report it to the National Fraud Information Center (NFIC) at 1-800-654-7060 or visit www.fraud.org. You also can report scams directly to the FTC by filing a complaint form or calling 1-877-FTC-HELP (1-877-382-4357).

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