Need based scholarships are given to students who show financial need. These awards determine eligibility based on family income. Financial need may come from filling out the FAFSA. About 58% of low income families used need based scholarships in 2019, according to a Sallie Mae study. A scholarship is a monetary gift. you typically do not to pay back the funds compared to a student loan. So receiving a scholarship may make college more affordable.
10 Scholarships for Financial Need You Should Apply for
There are plenty of need based scholarships for college students. Start your scholarship search with these ten awards. Then look for more scholarship opportunities based on your goals, major and interests.
GE Reagan Foundation Scholarship Program
Dell Scholarship Program
Jackie Robinson Foundation Scholarship
Jeannette Rankin Women’s Scholarship
UNCF Koch Scholarships
Smith College Need Based Financial Aid
Anarcha, Betsy, and Lucy Memorial Scholarship Award
AKA Educational Advancement Foundation Graduate Financial Need
National Association of Hispanic Nurses Scholarships
Educational Opportunity Fund (EOF) – Graduate Student Grant (NJ)
How Do You Qualify for Need Based Scholarships?
To qualify for need based scholarships, the first step is to fill out the FAFSA. The Free Application for Federal Student Aid is a standard form to determine financial aid. The federal government, states and colleges use it. FAFSA forms are available on October 1st so make sure to apply by the deadline.
The FAFSA asks questions about family income, taxes, and other assets. This helps find what you are able to pay or your expected family contribution (EFC). You also list the colleges you applied to and the cost of attendance. Based on the math: COA minus EFC equals your unmet financial need. Keep in mind that tuition may vary over time but your EFC could stay the same.
Here are some general eligibility requirements for need based scholarships:
Full time enrollment status
U.S. citizen or legal resident
Plans to attend an accredited two or four year college in the United States
Have a high school diploma or GED
With all these factors, there are need based scholarships for students majoring in certain subjects. UNCF STEM Scholars Program is one example. This award is for Black high school students. You must have at least 3.0 GPA and plans to pursue a STEM career.
What is the difference between need based and merit scholarships?
Need based scholarship is given to family assets and income while merit scholarships are based on academic success. The main goal of need based aid is to make college more affordable for low income families. Your GPA and test scores may not be a factor in receiving financial need awards. Assuming need is not a criteria, undergraduate students of all income levels may also qualify for merit scholarships.
Merit scholarships are for high achieving students. They look at academic achievements. You typically need a strong GPA and test scores in order to qualify. Other criteria such as community service, leadership, and other talents could help you earn a merit award.
Where Do You Find Scholarships Based on Financial Need?
Many high schools, colleges, companies and nonprofits provide need based college scholarships. Federal and state governments also offer financial aid based on need. You should also look for local awards within your community. Your scholarship search should include awards based on your academic achievements, major, and personal interests.
The Jack Kent Cooke Foundation College Scholarship Program is for high school seniors with financial need. Eligible students may receive up to $40,000. You must be attending a four year undergraduate school. Many Cooke scholars exhibit a 3.5 GPA or higher and participate in community service projects. If you are selected, you may work with an education adviser. You also may attend a Scholars Weekend event in Washington D.C.
Jeannette Rankin Women’s Scholarship Fund is for women over 35 years old who show unmet financial need. JRF Scholars may receive up to $8,000. The award empowers non traditional students to pursue undergraduate program or trade skills certification.
Federal and State Government
The U.S. Department of Education offers need based aid as grants and work study. Once your school’s financial aid office has your FAFSA, it uses your EFC to make you an offer. It’s also called an award letter. It states the types of aid available, total amounts and outstanding cost. The letter may state a college scholarship especially if you’re a first year student.
This is the largest need based federal grant program. Amounts change but the maximum amount is $6,345 for the 2020 to 2021 academic year. According to Sallie Mae’s How America Pays for College 2020 report, 48% of families relied on grants to pay for college. Although grants are renewable, you may have to keep up with the terms and reapply each year.
This program allows eligible students to earn money to pay for school through a part time job. As a rule, you must apply and interview for these jobs. You may find on campus or off campus work. Some typical work study jobs include office assistant, lab research, cafe worker, and others.
Some colleges offer TEACH Grant eligible programs. If you’re enrolled as an undergraduate, post bachelor’s or grad student at one of these schools you may qualify. Eligible applicants need a 3.25 GPA and must sign a service contract. This states that upon graduation, you agree to teach in a high need field, full time and at a school that serves low income students. In return, this federal grant provides up to $4,000 per year.
Many states have a certain amount of need based grants. You may have to fill out a FAFSA as well as state form and be accepted to a public four year college in your state. Just make sure to meet all application deadlines since they may differ.
For the past 20 years, First Responders Children’s Foundation has awarded college scholarships to children of first responders.
If you’re the child of a first responder, please submit an application to be considered for one of the First Responders Children’s Foundation scholarships.
The First Responders Children’s Foundation – Victoria Ovis Memorial Scholarship is awarded annually to a child of a law enforcement officer who was killed or permanently disabled in the line of duty.
The First Responders Children’s Foundation awards scholarships to children of first responders annually. Awards are based on financial need as well as academic merit and other achievements, such as demonstrated leadership, outstanding performance in the arts or sports, and/or volunteer activities benefiting the community. This scholarship may be renewed annually (for up to a maximum of four years) depending on the availability of funds and the financial need and the academic record of the awardee.
MAP grants, which do not need to be repaid, are available to eligible Illinois residents who attend approved Illinois colleges and demonstrate financial need, based on the information provided on the Free Application for Federal Student Aid (FAFSA®). You are not required to submit high school grades or test scores when applying for a MAP grant. MAP grants are not limited to traditional college-aged students. If all eligibility requirements are met, adult and non-traditional students (older than recent high school graduates) may also qualify. MAP grants can be applied only toward tuition and mandatory fees.
At JFCS, we annually help hundreds of Jewish students achieve these goals by providing them with loans and grants. In order to apply, you must be Jewish and have been a legal and permanent resident of Sonoma, Marin, San Francisco, San Mateo, or northern Santa Clara counties for at least two years prior to submitting your application. Must be able to demonstrate financial need based on the FAFSA and you/your family’s federal tax return and have a minimum 3.0 GPA. Although not required, candidates who demonstrate a meaningful connection and/or commitment to the Jewish community are desired.
The idea of providing scholarships to students of Iranian descent originated in 1984 by my father, Moji (Mojtaba) Momeni. He says:
“In an afternoon of pondering about my life and setting goals, I realized that without the benefit of scholarships I could not have achieved what I was achieving in my life. At that time, I added the establishment of an organization dedicated to advancing education and providing scholarships to students, to my list of 20-year plan.”
The New York State Tuition Assistance Program (TAP) helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,665. Because TAP is a grant, it does not have to be paid back.
TAP is also available for students attending a SUNY, CUNY and not-for-profit independent degree-granting college on a part-time basis. To be eligible for Part-time TAP you must have been a first-time freshman in the 2006-07 academic year or thereafter, have earned 12 credits or more in each of two consecutive semesters, and maintain a “C” average.
The RMHC of Las Vegas Scholarship Program is designed to provide financial assistance to eligible graduating high school seniors who face limited access to educational and career opportunities. Since 1999, more than $4.5 million in scholarships have been awarded to students in Clark and Nye counties.
Scholarships are awarded by Ronald McDonald House Charities of Greater Las Vegas, with support from local McDonald’s owner/operators and other community partners.
Sault Tribe is a 44,000-strong federally recognized Indian tribe that is an economic, social and cultural force in its community across the eastern Upper Peninsula counties of Chippewa, Luce, Mackinac, Schoolcraft, Alger, Delta and Marquette. The tribe is comprised of housing and tribal centers, casinos, and other enterprises that employ both Natives and non-Natives and fund tribal programs. Sault Tribe works hard to be self-sufficient, good stewards of the land and waters, and helpful to the surrounding community.
Since its founding in 1891, the Woman’s Century Club has provided annual scholarship support to deserving women through local colleges and universities.
The club continues that tradition by awarding a scholarship each year to an outstanding junior woman student, at a King County college or university, who exemplifies the traditions of female leadership and service that our club’s founders sought to encourage. The scholarship is for $2,000 and the recipient also receives a one-year membership in the club.
Climate change is the defining challenge of our generation and we need young people of all backgrounds to become leaders in the equitable transition to clean energy. The San Francisco Bay Area chapter of Young Professionals in Energy (YPE) created its Scholarship Program to motivate the next generation of energy leaders and to create pathways for students to envision and realize successful careers in the clean economy. In addition to funding, YPE will provide opportunities for mentorship from our membership, admission to a high-profile YPE event, and invitations to other networking events to meet professionals in the group.
