Lesson 12: Grants, Scholarships, Financial Aid
Directions: The short video below will outline what you have to do to complete this lesson.
English |
Spanish |
Mock College Essay (BIG Extra Credit) |
READING 1
What is the difference between a grant, a scholarship and financial aid?
The terms grant, scholarship, and financial aid all refer to financial assistance for education, but they differ in how they are awarded and what they typically cover. Here’s a breakdown of the key differences:
1. Grants
2. Scholarships
3. Financial Aid
In summary, grants are primarily need-based, scholarships are merit-based (though some consider need), and financial aid is the umbrella term for all types of funding, which can include both grants and scholarships, as well as loans and work-study programs.
1. Grants
- What It Is: A grant is a form of financial aid that is typically need-based and provided by governments, institutions, or organizations.
- How It’s Awarded: Grants are usually awarded based on financial need, which is often determined through an application like the Free Application for Federal Student Aid (FAFSA) in the U.S. However, some grants may have other criteria, such as specific fields of study or background.
- Repayment: Grants do not need to be repaid, making them a valuable resource for students with financial constraints.
- Examples: The federal Pell Grant in the U.S., state grants, or institutional grants from colleges.
2. Scholarships
- What It Is: A scholarship is a financial award given to students based on merit, talent, or specific qualifications, such as academic performance, athletic ability, artistic talent, or community service.
- How It’s Awarded: Scholarships are often competitive and awarded based on criteria like grades, test scores, extracurricular involvement, or personal achievements. Some scholarships may also consider financial need, but merit is the primary factor.
- Repayment: Like grants, scholarships do not need to be repaid.
- Examples: Academic scholarships, athletic scholarships, and scholarships based on ethnicity, gender, or field of study.
3. Financial Aid
- What It Is: Financial aid is a broad term that encompasses all types of financial assistance to help pay for education, including grants, scholarships, loans, and work-study programs.
- How It’s Awarded: Financial aid packages are determined based on both need and merit and often include a combination of different types of aid (e.g., grants, scholarships, loans). The FAFSA is a key tool in assessing financial need and awarding aid.
- Repayment: While some financial aid, like grants and scholarships, does not need to be repaid, other forms—such as loans—must be repaid, often with interest.
- Examples: A typical financial aid package might include a Pell Grant, a university scholarship, federal student loans, and a work-study position.
In summary, grants are primarily need-based, scholarships are merit-based (though some consider need), and financial aid is the umbrella term for all types of funding, which can include both grants and scholarships, as well as loans and work-study programs.
Directions (Continued): After you complete Reading 1, go to Schoology and take the quiz. You can preview the questions below.
READING 2
Why would a high school student want to apply for grants and scholarships?
A high school student would benefit from learning about applying for grants and scholarships because it provides crucial financial support for their future education. College can be expensive, and understanding how to access funding options like scholarships and grants early on helps students prepare for the costs. Grants and scholarships offer money that doesn’t need to be repaid, which can significantly reduce the burden of student loans. This financial assistance can make higher education more accessible and affordable, giving students the ability to attend schools that might otherwise be out of reach.
In addition to financial aid, learning about scholarships and grants helps students enhance their college applications. Many scholarships require essays, volunteer experience, or extracurricular involvement, pushing students to build a well-rounded profile that appeals to colleges. Winning scholarships during high school also serves as recognition of academic achievement or personal talents, boosting a student’s confidence and making them more competitive in the college admissions process. This not only helps them stand out but also demonstrates initiative and ambition.
Furthermore, the process of researching and applying for scholarships teaches students valuable skills that are useful beyond high school. They learn how to search for opportunities, manage deadlines, and write compelling essays—skills that will be essential in college and in the workforce. In addition, applying for scholarships can improve students’ financial literacy by helping them understand the costs of higher education and how to manage those expenses effectively.
Finally, early exposure to scholarship and grant opportunities empowers students to take control of their educational journey. By knowing how to access financial resources, students can plan strategically for their future, ensuring they have the tools to pursue the academic programs and career paths they are passionate about. Learning about these options in high school provides a sense of confidence and readiness for the challenges ahead, setting them up for long-term success.
In addition to financial aid, learning about scholarships and grants helps students enhance their college applications. Many scholarships require essays, volunteer experience, or extracurricular involvement, pushing students to build a well-rounded profile that appeals to colleges. Winning scholarships during high school also serves as recognition of academic achievement or personal talents, boosting a student’s confidence and making them more competitive in the college admissions process. This not only helps them stand out but also demonstrates initiative and ambition.
Furthermore, the process of researching and applying for scholarships teaches students valuable skills that are useful beyond high school. They learn how to search for opportunities, manage deadlines, and write compelling essays—skills that will be essential in college and in the workforce. In addition, applying for scholarships can improve students’ financial literacy by helping them understand the costs of higher education and how to manage those expenses effectively.
Finally, early exposure to scholarship and grant opportunities empowers students to take control of their educational journey. By knowing how to access financial resources, students can plan strategically for their future, ensuring they have the tools to pursue the academic programs and career paths they are passionate about. Learning about these options in high school provides a sense of confidence and readiness for the challenges ahead, setting them up for long-term success.
Directions (Continued): After you complete Reading 2, go to Schoology and take the quiz. You can preview the questions below.
READING 3
But, wait a second! Are grants/scholarships/financial aid only available to college students? What if I don't want to go to college? Can I get grants/scholarships/financial aid if I choose to go to Trade School?
Yes, grants and scholarships are awarded to trade school students, and there are several financial aid options available to support those pursuing vocational or technical education. Here’s how they apply to trade school students:
1. Grants for Trade School Students
2. Scholarships for Trade School Students
3. Financial Aid Packages
In short, trade school students have access to a wide range of grants and scholarships that can help reduce the cost of their education, making it easier for them to pursue skilled trades or vocational careers without the heavy burden of student loan debt.
1. Grants for Trade School Students
- Need-Based Grants: Trade school students are eligible for need-based grants, such as the Federal Pell Grant, which can be used for trade or vocational programs that meet federal requirements. Many states also offer grants specifically for students attending trade schools.
- Specialized Grants: Some grants are tailored to students pursuing specific trades, such as welding, automotive repair, or healthcare-related fields. These may be offered by industry organizations, unions, or government programs focused on workforce development.
- Application Process: Trade school students can apply for grants by filling out the Free Application for Federal Student Aid (FAFSA), just like traditional college students.
2. Scholarships for Trade School Students
- Merit-Based Scholarships: Trade school students can apply for scholarships based on merit, such as academic performance or demonstrated skills in their chosen trade. Many organizations, both public and private, offer scholarships for students who excel in specific vocational areas.
- Industry-Specific Scholarships: Many industries offer scholarships to students entering technical fields. For example, scholarships for those pursuing careers in construction, culinary arts, or technology are common. These scholarships may be provided by trade associations, unions, or companies looking to support skilled labor in their field.
- Local and National Scholarships: In addition to industry-specific scholarships, students can find local and national scholarships that are open to anyone pursuing post-secondary education, including vocational and trade school programs.
3. Financial Aid Packages
- Many trade schools offer their own financial aid packages, which may include both grants and scholarships, to help students manage the cost of education. Trade school students are also eligible for federal student loans and work-study programs through the FAFSA process.
In short, trade school students have access to a wide range of grants and scholarships that can help reduce the cost of their education, making it easier for them to pursue skilled trades or vocational careers without the heavy burden of student loan debt.
Directions (Continued): After you complete Reading 2, go to Schoology and take the quiz. You can preview the questions below.
Directions: Watch the 10 minute video (below) to fill in the prompts for the worksheet (above). The video will also guide you on what to do for your essay which would count as a BIG extra credit.
Types Of Scholarships
Here is a list of common types of college scholarships, along with descriptions and examples for each:
1. Merit-Based Scholarships
Description: Awarded to students based on academic, athletic, artistic, or other extracurricular achievements. These scholarships do not consider financial need but are awarded to students who demonstrate excellence in their fields.
Examples: Academic scholarships for high GPAs, athletic scholarships for sports achievements, and artistic scholarships for talents in areas like music or visual arts.
2. Need-Based Scholarships
Description: These scholarships are awarded based on a student’s financial need. They are designed to assist students from low-income families who may not otherwise be able to afford college. Financial need is typically determined through the FAFSA (Free Application for Federal Student Aid) or a similar form.
Examples: Federal Pell Grants, scholarships from foundations or colleges focused on underprivileged students.
3. Athletic Scholarships
Description: These scholarships are awarded to student-athletes who demonstrate exceptional talent in a particular sport. Colleges and universities, especially those with competitive sports programs, often offer these scholarships as a way to recruit top athletes.
Examples: NCAA Division I or II scholarships for sports like football, basketball, soccer, etc.
4. Special Group Scholarships
Description: These scholarships are specifically for students who belong to minority groups, such as African American, Hispanic/Latino, Native American, or LGBTQ+ students. The goal is to promote diversity and inclusion in higher education.
Examples: The Gates Millennium Scholars Program, Hispanic Scholarship Fund, and the United Negro College Fund (UNCF).
5. Field of Study Scholarships
Description: Some scholarships are awarded to students who plan to pursue a specific field of study. These are often sponsored by organizations or companies within that field to encourage growth in particular industries.
Examples: Scholarships for students pursuing careers in STEM (science, technology, engineering, and mathematics), education, nursing, or law.
6. Community Service Scholarships
Description: These scholarships reward students who demonstrate a strong commitment to community service and volunteerism. They are often aimed at students who have made a significant positive impact on their communities.
Examples: The Bonner Scholars Program, scholarships from local civic organizations like Rotary or Kiwanis Clubs.
7. First-Generation Scholarships
Description: These scholarships are designed for students who are the first in their families to attend college. Many colleges, universities, and private organizations offer these awards to help reduce the financial burden on first-generation students.
Examples: Scholarships from institutions like the Coca-Cola First-Generation Scholarship Program.
8. Employer-Sponsored Scholarships
Description: Many employers offer scholarships to employees, their children, or other dependents. These scholarships can be part of a company's benefits package or a corporate social responsibility initiative.
Examples: Scholarships from companies like Coca-Cola, McDonald’s, or local businesses that support higher education for their employees’ families.
9. Military Scholarships
Description: These scholarships are offered to students who are currently serving in the military, veterans, or dependents of military personnel. Many of these scholarships come from the government or private organizations supporting military families.
Examples: ROTC scholarships, scholarships for veterans, and the GI Bill.
10. Creative and Artistic Scholarships
Description: These scholarships are awarded to students who excel in creative fields such as art, music, theater, dance, and design. Applicants often need to submit portfolios or auditions as part of the application process.
Examples: Scholarships for visual arts, musical performance scholarships, and theater arts scholarships.
11. Scholarships for Women
Description: These scholarships are available to female students, often to encourage them to enter fields where women are traditionally underrepresented, such as STEM, or to support women pursuing higher education in general.
Examples: The Society of Women Engineers (SWE) scholarships, P.E.O. International scholarships for women.
12. Scholarships for International Students
Description: These scholarships are designed to support international students who wish to study in a different country. Many universities and governments offer scholarships specifically to attract global talent.
Examples: Fulbright Scholarships, Chevening Scholarships, scholarships from individual universities for international students.
13. Local or Regional Scholarships
Description: Many scholarships are offered by local organizations, businesses, or government bodies to students who live in a particular region. These are often less competitive due to the limited geographic focus.
Examples: Scholarships from local rotary clubs, chambers of commerce, or community foundations.
14. Religious Scholarships
Description: These scholarships are awarded to students who are members of a particular religion or are attending a faith-based college. They may also be offered to students who are involved in their religious communities.
Examples: Scholarships from church groups, religious organizations, or faith-based universities.
15. Corporate Scholarships
Description: Many corporations offer scholarships as part of their community outreach or workforce development efforts. These are often awarded to students pursuing degrees in fields relevant to the corporation’s industry.
Examples: Scholarships from companies like Google, Microsoft, or Target.
16. Unusual or Unique Scholarships
Description: Some scholarships are based on unique criteria that don’t fit into traditional categories. These can be based on a variety of factors such as hobbies, interests, or even unusual talents.
Examples: Scholarships for gamers, students with a unique last name, or those interested in a specific niche hobby.
These types of scholarships offer a wide range of opportunities for students, regardless of their academic background, interests, or personal circumstances.
1. Merit-Based Scholarships
Description: Awarded to students based on academic, athletic, artistic, or other extracurricular achievements. These scholarships do not consider financial need but are awarded to students who demonstrate excellence in their fields.
Examples: Academic scholarships for high GPAs, athletic scholarships for sports achievements, and artistic scholarships for talents in areas like music or visual arts.
2. Need-Based Scholarships
Description: These scholarships are awarded based on a student’s financial need. They are designed to assist students from low-income families who may not otherwise be able to afford college. Financial need is typically determined through the FAFSA (Free Application for Federal Student Aid) or a similar form.
Examples: Federal Pell Grants, scholarships from foundations or colleges focused on underprivileged students.
3. Athletic Scholarships
Description: These scholarships are awarded to student-athletes who demonstrate exceptional talent in a particular sport. Colleges and universities, especially those with competitive sports programs, often offer these scholarships as a way to recruit top athletes.
Examples: NCAA Division I or II scholarships for sports like football, basketball, soccer, etc.
4. Special Group Scholarships
Description: These scholarships are specifically for students who belong to minority groups, such as African American, Hispanic/Latino, Native American, or LGBTQ+ students. The goal is to promote diversity and inclusion in higher education.
Examples: The Gates Millennium Scholars Program, Hispanic Scholarship Fund, and the United Negro College Fund (UNCF).
5. Field of Study Scholarships
Description: Some scholarships are awarded to students who plan to pursue a specific field of study. These are often sponsored by organizations or companies within that field to encourage growth in particular industries.
Examples: Scholarships for students pursuing careers in STEM (science, technology, engineering, and mathematics), education, nursing, or law.
6. Community Service Scholarships
Description: These scholarships reward students who demonstrate a strong commitment to community service and volunteerism. They are often aimed at students who have made a significant positive impact on their communities.
Examples: The Bonner Scholars Program, scholarships from local civic organizations like Rotary or Kiwanis Clubs.
7. First-Generation Scholarships
Description: These scholarships are designed for students who are the first in their families to attend college. Many colleges, universities, and private organizations offer these awards to help reduce the financial burden on first-generation students.
Examples: Scholarships from institutions like the Coca-Cola First-Generation Scholarship Program.
8. Employer-Sponsored Scholarships
Description: Many employers offer scholarships to employees, their children, or other dependents. These scholarships can be part of a company's benefits package or a corporate social responsibility initiative.
Examples: Scholarships from companies like Coca-Cola, McDonald’s, or local businesses that support higher education for their employees’ families.
9. Military Scholarships
Description: These scholarships are offered to students who are currently serving in the military, veterans, or dependents of military personnel. Many of these scholarships come from the government or private organizations supporting military families.
Examples: ROTC scholarships, scholarships for veterans, and the GI Bill.
10. Creative and Artistic Scholarships
Description: These scholarships are awarded to students who excel in creative fields such as art, music, theater, dance, and design. Applicants often need to submit portfolios or auditions as part of the application process.
Examples: Scholarships for visual arts, musical performance scholarships, and theater arts scholarships.
11. Scholarships for Women
Description: These scholarships are available to female students, often to encourage them to enter fields where women are traditionally underrepresented, such as STEM, or to support women pursuing higher education in general.
Examples: The Society of Women Engineers (SWE) scholarships, P.E.O. International scholarships for women.
12. Scholarships for International Students
Description: These scholarships are designed to support international students who wish to study in a different country. Many universities and governments offer scholarships specifically to attract global talent.
Examples: Fulbright Scholarships, Chevening Scholarships, scholarships from individual universities for international students.
13. Local or Regional Scholarships
Description: Many scholarships are offered by local organizations, businesses, or government bodies to students who live in a particular region. These are often less competitive due to the limited geographic focus.
Examples: Scholarships from local rotary clubs, chambers of commerce, or community foundations.
14. Religious Scholarships
Description: These scholarships are awarded to students who are members of a particular religion or are attending a faith-based college. They may also be offered to students who are involved in their religious communities.
Examples: Scholarships from church groups, religious organizations, or faith-based universities.
15. Corporate Scholarships
Description: Many corporations offer scholarships as part of their community outreach or workforce development efforts. These are often awarded to students pursuing degrees in fields relevant to the corporation’s industry.
Examples: Scholarships from companies like Google, Microsoft, or Target.
16. Unusual or Unique Scholarships
Description: Some scholarships are based on unique criteria that don’t fit into traditional categories. These can be based on a variety of factors such as hobbies, interests, or even unusual talents.
Examples: Scholarships for gamers, students with a unique last name, or those interested in a specific niche hobby.
These types of scholarships offer a wide range of opportunities for students, regardless of their academic background, interests, or personal circumstances.