Low-income students may qualify for the federal Pell Grant, which supports undergraduate education only. The maximum Pell Grant award for the 2011-2012 school year was $5,500 and depended upon cost of attendance, student status and family income. States may administer grants based on academic achievement or family income that can help offset the cost of college. College juniors and seniors majoring in the sciences may also apply for the National SMART grant, which provides up to $4,000 a year. To apply for these grants, students must complete the FAFSA application, which is due March 1 of each year.
Colleges and universities may award merit-based scholarships to academically high-achieving students. These scholarships are often used as an incentive for students to attend one school over another. While students can apply to a school for merit-based scholarships, they are often awarded automatically with no action needed on behalf of the student. If a student is required to apply for a scholarship, she may have to write an essay or attend an interview. Schools may award scholarships that cover either partial or full tuition costs
Schools may also award scholarships to students who demonstrate a financial need. Financial need is based upon the gap between the cost of attendance and what a student's family can afford. Many schools determine a student's financial need based upon information provided in the FAFSA or a school's own financial aid form. Students should contact their schools for information on need-based scholarships as soon as possible, since many are awarded on a first-come, first-served basis.
There are thousands of scholarships awarded to students by private and non-profit organizations. While some are based on academic merit, others are based on a demonstrated financial need. Those based on need may require that students send copies of their family's tax returns to the awarding organization. Alternately, students may find scholarships designated for specific ethnic and religious groups. There are also scholarships for teens with outstanding family circumstances, like foster children. Additionally, students who hold a particular interest in a subject or hobby may also find a scholarship related specifically to them. Consult the Fastweb website to perform a scholarship search based on your personal qualifications and traits. You may also perform an Internet search for scholarships pertaining to your unique identity, like "Scholarships for Jewish students."