Introduction
Stressed about paying for college? Scholarships can help a lot, but knowing your options is key. Merit-based and need-based scholarships are the main types. Merit scholarships reward your achievements, and need-based ones help with your family’s money situation. We’ll explain the differences and show you how to find them. Let’s get started!
What Are Merit-Based Scholarships?
Merit-based scholarships are like prizes for being awesome! They look at your grades, talents, and skills. If you’re a great student, athlete, or artist, you might get one.
Example: Sarah is a straight-A student and the captain of her debate team. She applied for a merit-based scholarship from her dream university and got it!
How to Find Them
- Ask your counselor.
- Check college websites.
- Use scholarship search engines like Bold.org, ScholarshipOwl and Fastweb.
What Are Need-Based Scholarships?
Need-based scholarships help if your family needs money for college. They look at your family’s income. To apply, you’ll need to fill out the FAFSA form.
Example: Maria’s family has a low income, so she filled out the FAFSA and qualified for a need-based Pell Grant, which helps pay for her tuition.
How to Apply
Fill out the FAFSA form online. Your parents will need to provide their financial info.
Merit vs. Need-Based: Key Differences
| Feature | Merit-Based | Need-Based |
|---|---|---|
| What it looks at | Grades, talents | Family income |
| Who can get it | Students with high achievements | Students with financial need |
| How to apply | Check college websites and scholarship search engines | Fill out the FAFSA form |
Merit scholarships are for awesome students. Need-based scholarships are for students who need financial help.
Which One Is Right for You?
Think about your grades and talents. Do you have high grades? Are you good at sports or art? Also, think about your family’s money situation. Do you need help paying for college? Check both merit and need-based scholarships to see which ones you can get.
Quick Facts: Merit vs. Need-Based Scholarships
- Merit scholarships reward achievements.
- Need-based scholarships look at your family’s income.
- Fill out the FAFSA for need-based aid.
- Check college websites for merit-based scholarships.
- Start searching early!
Early Decision: Is It Right for You?
| Pros | Cons |
|---|---|
| You might get accepted easier. | You have to go to that school if you get in. |
| You’ll know sooner. | You can’t compare money offers from other schools. |
| Shows the college you really want to go there. | Less time to get better grades. |
Think carefully before applying Early Decision.
Remember This!
- FAFSA is not just for loans! It’s also for scholarships.
- Merit scholarships aren’t just about grades! Talents count too.
- Deadlines matter! Don’t miss them.
Checklist: Your Next Steps
- Fill out the FAFSA form.
- Search for merit-based scholarships online.
- Ask your counselor for help.
- Keep track of deadlines.
Commonly Asked Questions
- Q: Do I have to be a genius to get a merit scholarship?
- A: Nope! Many merit scholarships look for well-rounded students, not just geniuses.
- Q: What if my family makes too much money for need-based aid?
- A: You might still qualify for some merit-based scholarships, so keep searching!
- Q: When should I start applying for scholarships?
- A: As early as possible, even in your junior year of high school!
Conclusion
Merit scholarships reward you, and need-based scholarships help with money. Check both to see what you can get. Start searching now. You got this!
Glossary
- FAFSA: A form to get money for college.
- Merit-Based: Based on your achievements.
- Need-Based: Based on your family’s income.
