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Many universities automatically consider students for merit-based scholarships and financial aid packages without a separate application if they have good grades, test scores, and extracurriculars. However, some universities require a separate application for scholarships, usually at or shortly after the admission application. High school seniors should also apply for scholarships from third-party companies between December and April, as this can provide significant financial rewards. Applying for such scholarships can help students cover expenses beyond tuition, such as housing, books, and food, and is a way for them to be rewarded for their hard work.