Understanding Scholarships, Fellowships, Grants, and Loans
Are you worried about how you’ll pay for college or looking for ways to lower your family’s out-of-pocket costs? While it’s true that a college education comes with a high price tag, securing financial aid can help you confidently pursue your educational goals. There are many different funding opportunities that can help you finance your college education, including scholarships, grants, fellowships, and loans. You’ll find that these opportunities each have their own requirements. Learn more about different financial aid options for your undergraduate studies, and determine what’s right for your needs.
Scholarships
Scholarships are one of the best ways to pay for college. You don’t have to repay scholarship funds, so there’s no financial burden after you graduate. Scholarships are awarded by government entities, schools, and private organizations. Scholarships are usually awarded based on merit, financial need, or other qualifying requirement. Devote your time to researching as many scholarships as possible to maximize your opportunities. You’ll find that scholarships are awarded for a wide variety of reasons, and you may be eligible for more scholarships than you originally thought possible. Each scholarship will have its own application requirements and deadlines, so it’s important that you start researching scholarships as soon as possible. When applying for scholarships, stay alert for scams that take advantage of hopeful students and steer clear of resources that require payment or just seem too good to be true.
- Scholarship Advice
- Scholarship FAQs
- Search for Scholarships
- Avoid Scholarship Scams
- Scholarships: Scams, Myths, and Facts
Grants
Grants are very similar to scholarships. Grants usually don’t require any kind of repayment, and students typically qualify for grant awards based on financial need, merit, or some other eligibility criteria. When you submit your FAFSA, you’ll automatically find out if you qualify for a need-based federal Pell Grant. Depending on your circumstances, you may also qualify for other limited federal grants like the Iraq and Afghanistan Service Grant, the TEACH Grant, or the Federal Supplemental Educational Opportunity Grant. There are also significant grants at the state level, so be sure find out what college grants are available in your state. These grants often have additional residence or merit eligibility criteria. Be sure to also research grants offered by private organizations and companies, nonprofits, and your prospective schools, as there are a large number of private grants available for college students.
- Applying for a Federal Pell Grant
- Federal Iraq and Afghanistan Service Grant
- Criteria for Federal TEACH Grants
- Federal Supplemental Educational Opportunity Grants
- Find State-Level College Grants and More
Fellowships
Fellowships are a specific type of grant that allows you to receive funding while pursuing specific academic interests. While many fellowships are geared toward post-graduate study, there are also a significant number of undergraduate fellowships. Fellowships can range from short-term programs to multi-year commitments. Some fellowship awards are limited to specific areas of study, while others are open to all outstanding students. You’ll find both independent programs and school-specific fellowships. Not only do fellowships provide funding, but they are also usually quite prestigious. Winning a spot in a fellowship program is very competitive, as they are designed to give students the chance to focus on academic research and access development opportunities that will help students make contacts and significantly advance in their course of study. As with all scholarships and grants, it’s important that you plan ahead. Fellowship applications can be quite extensive and may even require additional steps like a nomination, interviews, and presentations.
- Overview of Fellowships
- Search for Fellowships
- Fellowship Directory
- Understanding Fellowships Versus Scholarships and Grants (PDF)
- Fellowship Application Tips (PDF)
Loans
Student loans allow you to borrow funds to cover the costs of higher education. Unlike other financing options, you must repay funds received through student loans. While repayment is a significant drawback, student loans also are a vital financial aid tool for many students. It can be quite challenging to fund all of your college expenses with only scholarships, grants, and fellowships. Remember that your college costs include not only tuition but also textbooks, fees, and necessary living expenses. These total costs often results in a gap between your award funds and actual college expenses, requiring most students to use family resources or take out student loans. Students who need loans should first look to federal loans. Federal loans are need-based and have a much lower interest rate than private loans. Your federal loan eligibility is typically based on your FAFSA. Your course of study and choice of profession may affect your federal loan repayment requirements, as there are certain income- and profession-based repayment and forgiveness plans currently available. If you need funds beyond your federal loan eligibility, private loans can provide additional financing. Private loans, however, usually have a higher interest rate and less-forgiving repayment options, and they may require a co-signer. If you decided to take out federal or private student loans, carefully consider how student loan debt will affect your future finances, as repayment generally begins upon graduation and remaining debt can’t be discharged even during bankruptcy proceedings.
- Federal Student Loans (PDF)
- How to Avoid Deceptive Lenders
- Project Your Future Student Loan Repayment
- Different Types of Loans
- Student Loan Tips

Dropping out of high school can make it harder to find a job, to achieve your dreams or to just get by. Currently, one student out of four is dropping out before they graduate from college. In the United States, this adds up to more than a million students each year. The effects will follow these students throughout their lives. The unemployment rate is usually higher for high school dropouts than it is for people who have graduated from high school or college. High school dropouts will face challenges when it comes to providing the basic necessities for their families. It is important to take steps to reduce the drop out rate throughout the United States.
While law school certainly is regarded as a prestigious preparation for an impressive career, it comes with a hefty price tag attached. To put it in perspective, the average cost of attending law school can be between $45,000 to approximately $60,000 per year, or even more for the top colleges. Most law programs usually last for three years. Apart from the core tuition expenses, potential applicants also need to consider the costs of books and educational materials, transportation, meals, and housing. Consider it from another angle. Assuming that a law student graduates and immediately gets a full time job, if they put their entire salary towards paying school debts, it would take three to four years. When applying to law school, it is crucial to consider all the aspects and first decide whether law school really is for you. Those who are indeed committed to entering the law profession can finance their education in several different ways, including scholarships and other types of financial aid.
For many people, an internship is their first experience in a real job related to their studies or future careers. Even so, it is vital to make a good impression on the interviewer and the company in order to land the job. To do this the applicant has to be well prepared and know how to present themselves well at the interview. Even afterwards, following up correctly can help to tip the scales in their favor.
Preparing to get into college is one of the most exciting, yet stressful times in your educational life. But getting into the school of your dreams can sometimes be more impactful than actually attending class and passing that big exam. When you’re ready for the all-important college entrance interview there are a few important things to keep in mind. Of course you want to be prepared and having an idea of what to expect on the big day is part of the planning. Look for commonly asked questions in college interviews and then see if a friend or family member would be willing to do a few practice runs with you. Along with the advance planning includes making sure you’ve dressed appropriately for the interview, so that you leave a lasting impression that will help the interviewer remember your poise and professionalism. Making sure you look great will help you to feel more confident and will make a big impression on the college interviewer. Remember that most people always hang onto their first impression of you, so you’ll want to ensure that it is one they’ll recall in a positive way when it comes time to make acceptance decisions.


