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.
The Ceiba Foundation for Tropical Conservation is a 501(c)(3) non-profit international conservation organization committed to fostering and supporting diversity in environmental science. Our Humboldt Diversity Scholarships enable students from under-represented racial and ethnic groups and of limited financial means to travel to the tropics and gain international experience in biological research and conservation. Scholarships can only be applied to Ceiba’s “Tropical Conservation Semester: Galapagos, Andes, and Amazon”, or one of our summer programs in Ecuador or Belize. Scholarships range from $1,000 to $5,000. Award availability and scholarship amounts vary according to the number and need of applicants, and the length of the program.
The ISL Education Lending Scholarship awards 45 deposits of $1,000 into College Savings Iowa accounts for Iowa residents in high school or undergraduate college, or the parents, guardians or others who hold a College Savings Iowa account for high school or undergraduate college student.
Rubicon’s scholarship program provides financial assistance to graduating high school seniors or currently-enrolled college students who have expressed an interest in leadership and demonstrated an aptitude for self-reliance.
We’re dedicated to building stronger leaders and communities. Discipline is a vital attribute of any successful individual or corporation. Competition for talent is growing and we aim to be at the forefront in identifying and rewarding young people who possess the grit to succeed.
Graduate and undergraduate students at North American colleges and universities or American students studying abroad are invited to apply for Overseas Press Club Foundation Scholar Awards. An applicant must be a college junior, senior or graduate student enrolled in a degree program at the application deadline and have demonstrated an interest in international journalism.
In a typical year, the Foundation grants 18 scholar awards for the pursuit of academic goals. Winners receive either a $3,000 scholarship for independent work or a $4,000 fellowship to be used to fund time in a bureau of a leading news organization such as the Associated Press, Reuters, Bloomberg or the Wall Street Journal.
Our program is aimed primarily at helping students, of whatever nationality, who wish to pursue international journalism, rather than returning to their countries of origin and becoming local reporters. Our program is also heavily oriented toward helping journalists launch their careers rather than assisting mid-career professionals.
The Bayar Fellowship, established in 2020, is dedicated to finding, developing, and supporting the next generation of leaders.
We aim to empower high school students from marginalized communities and low income backgrounds by providing them with the fundamental tools necessary to become leaders in their communities.
We’re honored to invest in our community by awarding twenty-five $5,000 scholarships to college students at HACU-member institutions to help further their education.
This year, Café Bustelo asked applicants to share how their heritage, family, and community have impacted their desire and motivation to obtain a college degree; how they plan to give back to their community; and what they intend to accomplish with their degree in an essay in English or Spanish (800 words or less).
Since the scholarship began in 2014, $800,000 in college funds have been awarded to 160 Latino students nationwide through the partnership.
These make up the majority of our financial aid offers and come from our institutional funds and endowments. They are automatically included in your financial aid offer and don’t need to be paid back. The amount varies depending on your financial need, and can change from year to year if your family’s household or financial circumstances change.
The expanded cohort program is named after the late Congressman Elijah E. Cummings, who held strong and meaningful connections to the Hopkins community, the Baltimore community, as well as to Washington, DC. Congressman Cummings’ commitment to community, demonstrated personal and positional leadership, focus on expanding opportunity for others, and his strong belief in investing in our nation’s future through our youth, serve as the Program’s guiding foundational elements.
This cohort experience offers a generous, two-tiered financial aid program that recognizes high-achieving Baltimore City and Washington, DC public school, and public charter school, graduates from families that earn up to $150,000 and have typical assets.
The A. James Clark Scholars Program forms a cohort of some of the most talented engineering students in the nation and provides a generous merit scholarship, which does not need to be repaid, for students to use toward college costs.
Working together under the guidance of a faculty mentor, Clark Scholars participate in specialized academic programs and service opportunities designed to develop future leaders and enhance their undergraduate experience.
Throughout the year, Clark Scholars network with professional engineers, learn from experts in their fields during leadership seminars, and contribute to their community through guided service-learning projects. Scholars gain practical engineering experience as part of an innovation team, comprised of fellow Clark Scholars, and are challenged to develop solutions to real-world societal needs. The program also provides students with resources and assistance finding internships based on their interests and fields of study.
Scholars meet annually with representatives from the Clark Foundation to discuss their Hopkins experiences, speak with professional engineers from the Clark Construction Company, and are invited to an annual lunch with the Dean of the Whiting School of Engineering.
The Hodson Trust and Hodson Gilliam Success scholarships are awarded on the basis of leadership and academic and personal achievement. The scholarship provides approximately two-thirds of the annual tuition costs for around 20 exceptional first-year students.
Hodson Scholars are part of a competitive cohort of students who have achieved excellence not only in their academics, but also in their extracurricular pursuits, and are actively engaged and eager to take the initiative to make meaningful change in the world.
As Hodson Scholars, our students have the chance to engage in meaningful conversations, learn from different perspectives, and collaborate with their peers as they develop their academic and co-curricular passions. While each student at Hopkins has the opportunity to build their own path, Hodson Scholars provide a community to learn with and from each other as they grow in their capacity to contribute to the community both at and beyond Hopkins.
Scholarship recipients enjoy the advantages of being part of this distinctive community, such as joining the Hodson Scholar Student Advisory Board and participating in a mentoring program between incoming students and upperclassmen.
