Private Scholarships vs Merit Scholarships: What Families Need to Know

Private scholarships are the biggest distraction in the college affordability world — and today, we’re setting the record straight.

In this episode of Old College Try, hosts Matt Carpenter and Peg Keough break down what families think they know about scholarships versus how the system actually works. From the myth of private scholarship riches to the colleges where every admitted student gets a discount, Matt and Peg unpack the real strategies that lead to meaningful savings.

You’ll learn:

• Why private scholarships account for only 3–5% of all financial aid—and why they shouldn’t be your starting point

• How scholarship displacement works (and why that $2,000 award may not lower your bill at all)

• The 95% of aid families SHOULD be focused on—merit scholarships from the colleges themselves

• What kinds of colleges don’t offer any merit aid at all (yes, it’s more common than you think)

• When appealing for more merit actually works—and how senior year performance can help

• The truth about full-ride scholarships vs partial awards

• A proven step-by-step system for deciding which scholarships are worth your time

Plus, the hosts preview next week’s listener mailbag episode and invite your questions!

If you want to build a smart, financially sound college list, this episode is a must-listen.

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