Private scholarships are a great way to help pay for college, but many students wonder how hard it is to actually get a private scholarship. To determine the feasibility, it depends on a number of factors, including the type of scholarship and the number of applicants. However, there are some things that all students can do to increase their chances of being awarded a private scholarship.
What are Private Scholarships?
Private scholarships, unlike government-funded ones, are awarded by private organizations or individuals based on certain criteria. They also differ in that they are not part of the financial aid package that many schools can offer. To better understand how financial aid packages work, it’s worth checking out this webinar.
But private scholarships can help bridge a gap that would otherwise exist for students trying to figure out how to pay for college. They do require a bit more legwork though, and can vary based on specificity and eligibility criteria. They are still what we consider “free money” aka, money that does not need to be paid back (that’s a good thing!). But they differ in that you need to more so find them – they won’t find you. To quote a great line from Field of Dreams – “If you write them, they will come.” I may be slightly off in the delivery, but you get the point.
Unlike scholarships offered directly from institutions, private scholarships are typically funded by companies, foundations, or individual donors. Private scholarships can be used to pay for various educational expenses such as tuition, textbooks, and room and board. They differ from scholarships offered by institutions because they are not limited to a specific school or program and are often available to a wider range of applicants.
What are the best ways to Apply for Private Scholarships?
There are typically 2 types of private scholarships, local ones and national ones. Local scholarships are typically offered by businesses, organizations, or charitable groups within a specific area. These scholarships are aimed at supporting students who are residents of the local community and may have unique eligibility requirements.
Conversely, national scholarships are available to students across the country and are often offered by large corporations, foundations, or professional associations. National scholarships have broader eligibility criteria, but they are more competitive due a larger applicant pool. While local scholarships can provide students with a more targeted financial aid opportunity, national scholarships can offer larger award amounts and greater prestige.
That said, it shouldn’t matter – there’s no good reason that you shouldn’t apply to both! Assuming you have the time (and you should block off the time), you can apply to both national and local organizations and see the money start rolling in. It can provide a great way to close a funding gap for college.
When should I start Applying?
To quote the great philosopher, Fatboy Slim, “Right here, right now.” Not only is the beat catchy, but it’s great advice regarding private scholarship application timing.
It’s important to understand the timing of the scholarship in question. Typically, private scholarships could have a hard deadline, perhaps from November to January. Others have rolling deadlines, so they can be available throughout the year. For those with hard deadlines, they earlier the better. Because they are often first-come, first serve.
What are the Best Places for me to Start?
It’s funny you should ask. Sometimes, the starting is the hardest part. Or is it the waiting is the hardest part? Regardless, you can download this free guide to private scholarships. It will show you a great place to start when it comes to local scholarships. It also will give you links to search engines for larger, national ones. Regardless, the best place to start is to track down as many sources as you can find.
Conclusion
So, how hard is it to get a private scholarship? Well, as the old expression goes, if it was easy, everyone could do it. It’s not easy, but there’s a process to follow. By understanding the eligibility requirements and application process, and by staying organized and persistent, you can increase your chances of receiving a private scholarship. Remember to start early, pay close attention to deadlines, and tailor your application to the specific scholarship’s requirements. If you need help finding out how to fit it in to your overall budget, you can always get in touch with me.
