If you want to apply for the prestigious ones, go for it! But in my experience it's better not to depend on these big money scholarships because they are hard to win. However, just like in the stock exchange, you don't put all your money into one stock, but you have to spread your money into a few different stocks of different industries. It's the same with scholarships. It is always good to apply to a few big scholarships if you have the time, or if the prize is something you really want (many scholarships come with internship requirements, so you have to know that you really want to do it). You might surprise yourself and actually win one. This is what happened with me and SMART. I applied for it because I really wanted it, but knowing that it was a national scholarship and there was a low acceptance rate, I didn't expect too much. But I ended up winning it anyway. Just like it is good to apply to a few "reach" colleges, ones that are hard to get into, it's is also good to apply to some "reach scholarships". You may be pleasantly surprised at the outcome!
Some prestigious scholarships:
SMART http://smart.asee.org
Apple Scholars http://www.apple.com/students/
Coca-Cola Scholars https://www.coca-colascholars.org/
Buick Achievers Scholarship http://www.buickachievers.com/
Davidson Fellows Scholarship http://www.davidsongifted.org/fellows/
Gates Millennium Scholars Program http://www.gmsp.org/
Benjamin A. Gilman International Scholarship http://www.iie.org/en/Programs/Gilman-Scholarship-Program
Barry M. Goldwater Scholarship http://www.act.org/goldwater/index.html
Ernest F. Hollings Undergraduate Scholarship Program http://www.orau.gov/noaa/HollingsScholarship/
Presidential Scholars http://www.presidentialscholars.org/
Udall Scholarship http://www.udall.gov/OurPrograms/MKUScholarship/MKUScholarship.aspx
To see the entire "Scholarship Advice" series, click here.
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