It is a fact that nearly all of the money available to help students pay for college, comes directly from the colleges they attend. Most comes through the process of applying for need-based aid, the “need” being demonstrated by completing the required financial aid forms. A smaller percentage of funds is awarded by colleges in the form of merit or special talent awards.
This fall, parents of current seniors, will have the opportunity to hear from a financial aid professional, to address the topic of need-based financial aid at an evening meeting in November. In February, parents will be given assistance for completing the Free Application for Federal Student Aid (FAFSA). Every student in need of financial assistance should complete the process of applying for need-based financial aid – this is the process through which the vast majority of funds are obtained.
As the cost of college increases, more and more students are hoping and looking for “scholarships” to help pay that cost. But it is important to know that there are few to no hidden pots of money waiting for takers. And there is no mystery to how a student can research scholarship possibilities. Despite these facts, there are any number of unscrupulous for-profit services that prey on families eager to secure money for college. In this regard, the buyer should truly beware!!
It is the general recommendation of counselors at Homewood-Flossmoor that no one should pay a fee for information about scholarships or financial aid. All of that information is available free, here at school, through the Illinois state agency called the Illinois Student Assistance Commission, or over the internet. No should pay a third party to complete financial aid forms. It is very possible to follow the directions on the forms and complete forms yourself. Having someone else do this increases the chance of error or misrepresentation that will be discovered when colleges ask for documentation such as income tax forms. Regarding agencies that offer scholarship information for a fee, it is our experience that every source provided can be readily accessed without a fee. Be very cautious about the following common scholarship scams, noted on the website www.finaid.org.
The Right Way to Research Scholarships:
Once again, it is important to know that most “scholarships” are awarded by colleges to students who enroll at their institutions. In most cases, applicants are automatically considered for scholarships when they apply; there is seldom even a separate application. Some colleges do offer scholarships for which there is some form of competition. This competition may be in the form of:
A good way to find these scholarships is to make a preliminary list of colleges in which a student is interested and then write to each college asking for a list of scholarships offered and conditions of consideration. The Guidance Department announces college scholarships for which there may be wide interest over VTV, in the written announcements, on the H-F web page, and on the scholarship bulletin board. The scholarship bulletin board is regularly updated with postings of individual college scholarships that will be of interest to smaller numbers of students. Seniors have been reminded that they should check this board on a weekly basis.
Some scholarships are offered by private sources and may be ones for which every student can apply. Other private scholarships may be limited by factors such as college major, gender, or ethnic background. Scholarships for which the Guidance Department has received information and/or applications are announced throughout the school and are listed on the H-F web page.
Students may research scholarships available from private sources by scheduling a time to meet with Mrs. Fleming, in the Guidance Office. In addition, there are many FREE scholarship searches available on the internet. Start with the Illinois Student Assistance Commission’s website, www.collegezone.com, to find a great menu of resources.
Two other excellent internet sites include: www.finaid.org and www.fastweb.com.
Remember that the best sources of information on financial aid for college are the colleges and universities to which students are applying. Also, the counselors are available for help with all questions regarding the financial aid process.