Pages

Wednesday, April 4, 2012

Scholarship Advice from a Scholar: Part 7

#7. Know the difference between merit-based and need-based scholarships. 

This is crucial because surprisingly most scholarships are need-based. In my case, my father had a large income but we also have a very large family and lots of expenses. When I applied for need based scholarships, it was difficult because the FAFSA said my total Expected Family Contribution (EFC) was a lot higher than we really could afford. The FAFSA doesn't tell the whole story of your financial situation. Most scholarships have an open comment section where if there is anything else you want to say, you can write it there. This is a great place to write about your financial need if you haven't done so already, and why the FAFSA doesn't give an accurate value for EFC.

Merit-based scholarships are much harder to win and sometimes harder to find (aside from the very prestigious ones). This is why it is best to go for the smaller local scholarships because they are generally merit-based if you aren't eligible for the need-based ones.

To see the entire "Scholarship Advice" series, click here.

No comments:

Post a Comment