So you’ve done your scholarship research, and have applied to various scholarship agencies. Why haven’t you received any awards? The answer isn’t always clear. Maybe you don’t qualify for many need-based scholarships, or perhaps hundreds of people applied to the same scholarship. Whatever the reason, don’t stress out! There are many other options available for funding your college education.
Loans are the most popular method of college funding. There many loans out there specifically designed for students- with low interest rates and no repayment obligations until six months after graduation. These include:
- Federal Subsidized Stafford Loans
- Federal Unsubsidized Stafford Loans
- Private Loans
There is also the PLUS Loan- a low rate loan designed for the parents of undergraduate students.
If you qualify, many schools offer a substantial amount of financial assistance throughout your college education. Be sure to complete the FAFSA application before the due date to ensure you receive all the aid you’re entitled too.
As part of your financial aid package, many schools offer Federal Work-Study. This allows students to hold part time jobs, partially funded by the government, to raise money while they’re in school. Ask your financial aid officer for more information about Federal Work-Study and to see if you qualify. Even if you don’t qualify, apply for jobs on campus anyway. There are always jobs on campus.
Don’t give up!
Don’t stop looking for winnable scholarships, as thousands of new ones are available each year. Let BrokeScholar send you scholarship-update emails on a regular basis, alerting you to useful scholarships and helpful financial aid articles.