S E27: Getting the Scholarships You Need -- Shaan Patel // Prep Expert
Feb 8, 2024
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Shaan Patel, Founder of Prep Expert, discusses getting scholarships for higher education. He covers the SAT going digital, securing scholarships, merit-based aid, state school honors programs, external scholarships, local scholarships for underrepresented minorities and first-generation college students, and making informed financial decisions. The podcast provides valuable advice and encouragement for parents of high school students.
Merit-based scholarships can significantly reduce the financial burden of higher education by covering a significant portion of tuition fees based on a student's grades, test scores, and extracurricular activities.
Local scholarships, often overlooked, provide an opportunity for students to receive financial support while pursuing education at any university, as they are not restricted to in-state colleges.
Deep dives
Importance of Merit-Based Scholarships and Financial Aid
Merit-based scholarships and financial aid can play a significant role in helping students access higher education. Contrary to common misconceptions, scholarships are not impossible to acquire. In fact, a study by the US Department of Education revealed that high-achieving students receive an average of 58% of their tuition paid through merit-based financial aid. These scholarships are often offered by universities based on a student's grades, test scores, and extracurricular activities. To maximize opportunities for financial aid, it is advisable to apply to universities that provide merit-based scholarships in addition to need-based aid. While Ivy League universities focus on need-based aid, many other universities offer merit-based scholarships to attract talented students.
Exploring Local Scholarships and Their Advantages
Local scholarships, specifically those available to students in a particular city or state, often go overlooked by families. Contrary to the misconceptions surrounding local scholarships, they are not restricted to in-state colleges. These scholarships can be used at any university, providing an opportunity to receive financial support while pursuing education elsewhere. Applying for local scholarships can significantly increase the chances of success as they tend to have far fewer applications compared to national scholarships. Utilizing search engines and directories like Scali Bassweb and Unigo can aid in finding the right scholarship opportunities. Emphasizing the importance of local scholarships helps students get rewarded for their hard work and secure additional funding.
Timing and Resources for Scholarship Applications
Applying for scholarships requires careful timing and resource management. While the majority of universities automatically consider students for merit-based scholarships and financial aid during the admissions process, some institutions may demand a separate application. Therefore, it is crucial to research and understand the requirements of each university. Additionally, it is essential to explore scholarships beyond university-based offerings. Between December and April, high school seniors should focus on applying for external scholarships provided by organizations like Coca-Cola, Toyota, and McDonald's. Locating local scholarships can greatly increase the probability of success due to limited competition. Online resources such as Scali Bassweb and Unigo provide comprehensive databases to explore various scholarship options.
Shaan Patel, Founder of Prep Expert, delves into the SAT going digital and securing scholarships. When it comes to higher education, scholarships can be the key to unlocking opportunities without the burden of hefty tuition bills. From third-party scholarships to merit-based aid from universities, there are several options to make the pursuit of a college education more accessible and less financially daunting. Today, Shaan discusses how to get the scholarships you need. Show Notes
