Paying for College with Scholarships

We know the cost of college life isn’t cheap. That’s why UW Credit Union created the Community Values Scholarship, which awards $3,000 scholarships to ten student members who share our commitment to making our communities stronger.

Scholarships are a great option for funding your education – it’s free money, after all! However, you will need to invest time.

To keep the process from overwhelming you, follow our three tips to aid you in your scholarship adventure.

Tip #1: Research What’s Out There

The Federal Student Aid office of the U.S. Department of Education offers a helpful resource list on how to find scholarships. You should also consult the websites of college financial aid offices you’re interested in or are attending to see what’s available. Your school counselor may also have leads on local and national scholarships.

Many scholarships are need-based or merit-based:

• Need-based scholarships: available to students who can demonstrate that college costs create financial hardship for them or their family; often require applicants to share proof of their financial situation by submitting copies of tax returns or bank statements.
• Merit-based scholarships: awarded to students who demonstrate outstanding achievements in academics, athletics, the arts or another area.

There are also scholarships that recognize:

• students from specific backgrounds
• ties to an organization, workplace or community or support
• special interests and talents

 Some examples:

Background and heritage 

Professional organizations, philanthropic foundations and other groups offer scholarships to students from ethnic and cultural groups that have been underrepresented on college campuses.

Do you speak a second language? Have you or a family member served in the military? Will you be the first person in your family to attend college? Attributes like these could make you eligible for scholarships open to a select group of students.

Group membership

Does your family attend a place of worship? Do you belong to a 4-H club, a museum or a performing arts group? These are just some examples of groups that might offer scholarships.

School and workplace affiliations

Comb through the websites and reach out to financial aid offices of schools you’re considering to see if they offer any scholarships to incoming students. If your parents or grandparents graduated from the school you ultimately attend, you might be eligible for a legacy scholarship. Some universities also offer free or reduced tuition to their employees’ children.

Even if your parents don’t work in higher education, their employers might offer college scholarships. If you have a job, your employer may offer these kinds of scholarships as well. The human resources office is a good place to start this quest.

Special talents and interests

Do you excel at playing a sport or an instrument? A school might offer you a scholarship if you agree to play for its team or orchestra. Do you dream of inventing a solar-powered car? An engineering organization might fund part of your studies. Have you volunteered at a humane society or sponsored a manatee? An animal advocacy organization might have a scholarship for you.

Did you know? One important first step in seeking funding for college is filling out the FAFSA, every year ahead of each year you’re in school.

Tip #2: Look for Scholarships that Fit

Consider your level of financial need, as well as your commitments to others, when deciding which scholarships to pursue. Some scholarship applications are fast and relatively easy, while others can take hours of work.

Find scholarships that closely match your background, skills and interests. You might want to prioritize scholarships limited to students from your school or community, as well as scholarships that would cover a significant portion of your school expenses.

Tip #3: Make Your Plan, Then Apply

Once you’ve narrowed down your top choices, create a detailed to-do list with the materials each application requires and add deadlines to your calendar.

Leave yourself enough time to write essays, gather feedback from at least one other person and revise your work. If you need to request letters of recommendation, give your references plenty of time to write them.

Consider preparing a resume listing jobs, volunteer positions and leadership roles you’ve held, as well as important accomplishments from your studies. This can help you pull together an application quickly. It’s also a useful document to share with the people you’ve asked to recommend you for scholarships.