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How to get your share of the $90 billion scholarship jackpot

Ebony, Sept, 2003

NO matter the state you're in, the college you choose or your course of study, you probably know by now that the economic recession has taken an unimaginable toll on the nation's colleges and universities, and while tuition is going up, funding for state institutions of higher learning is going down.

But what you may not know is that there is a silver lining for scholars: A whopping $90 billion in financial aid is available to virtually everybody who wants to further his or her education.

The $90 billion--a record amount of funding, according to the College Board, is up from $74 billion in financial aid just last year.

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So consider this bounty of available financial aid your window of opportunity to go to college. Whether you're a recent high school graduate, or a mom who decides to chase your own college dreams after your kids are off to school, or even if you've earned one degree and are seeking another, now is the time to do it.

No one promises that your quest will be easy. It will take hard work, persistence and a strong game plan for you to succeed. But financial aid experts, one very successful student and scholarship strategists have already mapped out the best routes for you to begin your search for college dough.

Here, then, are some pointers to lead you on your way:

LEAVE NO STONE UNTURNED. BUT START HERE:

Before you begin your scholarship search, you should complete an application for financial aid. There are two primary financial aid forms, the Free Application for Federal Student Aid (FAFSA), provided by the government, and the College Scholarship Service-Financial Aid Profile. Contact the institutions you are interested in to determine which form they prefer.

Barry Beckham, editor of the Black Student's Guide to Scholarships says there are at least six key places that you should search for financial aid:

* The financial aid administrator at each school in which you're interested can tell you what aid programs are available there and how much the total cost of attendance will be.

* Your state higher education agency can give you information about state aid, including aid from the State Student Incentive Grant (SSIG) Program, which is jointly funded by individual states and the U.S. Department of Education.

* The agency in your state responsible for public elementary and secondary schools can give you information on the Robert C. Byrd Honors Scholarship Program. Call 1-800-4-FED-AID for additional information.

* The AmeriCorps program provides full-time educational awards in return for work in community service. You can use the funds to pay current educational expenses or to repay federal student loans. Call 1-800-942-2677 for details.

* The public library is an excellent source of information on state and private sources of financial aid.

LOOK IN YOUR OWN BACKYARD FOR SCHOLARSHIPS.

Many companies, labor unions, church organizations, sororities and fraternities have programs to help pay the cost of post-secondary education for employees, members and/or their children. Don't overlook community organizations, civic groups and business organizations connected with your field of interest. Of course, you'd have a much better chance of receiving funding from these community sources if you volunteer with them.

DON'T BLOW YOUR FIRST IMPRESSION.

Spelling errors, cheap paper and an overall sloppy presentation can cost you in the competition for scholarships. You've only got one shot to get your hands on that scholarship that you're applying for, so you'd better make it count. When it comes to your application, everything from the content of your resume to the grade of the paper it's printed on should be superior.

"The most crucial stage of your quest for college scholarships will be completing applications" notes Marianne Ragins, author of Winning Scholarships for College. Ragins, founder and president of the Scholarship Workshop, has won more than $400,000 in scholarship money.

The first item that college and scholarship administrators WIll see, she says, is your application. "Their first impression of you will be made through the application you submit. If your application is sloppy, they will get that impression of you before they have a chance to formulate a positive one." And chances are good that you may lose out to a neater, more refined applicant.

READ THE FINE PRINT.

There are no second chances when it comes to submitting your scholarship application. Remember, the competition is stiff, and if you miss a deadline, or if you forget to include a crucial piece of information, all is lost. Organization is key when submitting your scholarships. Here are a few tips to give you a leg up on the competition:

Only apply to scholarships that you are eligible for. It is a major waste of time, money and resources to throw your hat into a scholarship's ring, especially if you aren't even eligible for the payoff. Applying for a majority of scholarships isn't free--it can cost you anywhere from $10 to $60 per application. Take your time and research scholarships that apply to you--and there are scholarships available for practically everybody--drag car racers, computer geeks, wanna-be novelists, high-scoring golfers, you get the idea. (See the 2003 scholarship grid on the following pages for details.)

How to get your share of the $90 billion scholarship jackpot

Ebony, Sept, 2003

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