Many philanthropists and charitable organizations establish endowments to encourage students in specific demographics to attend college. Awards through independent scholarships range from a few hundred dollars to full tuition. Search for independent scholarships using a directory (see Resources) that can filter by eligibility. Apply for as many as you qualify for since independent scholarships can be very competitive. Research the scholarship application requirements before applying as many have specific career, field of study or demographic requirements and will not consider applicants who do not qualify. You can begin applying for independent scholarships before you have been admitted to college or have decided on which school to attend, because independent scholarships are not dependent upon the college or university.
Complete the free application for federal student aid (FAFSA) as early as possible to maximize your financial aid award. The U.S. government provides Pell and Supplemental Educational Opportunity (FSEOG) Grants in addition to funding a federal work-study program for qualified students. In order to qualify you must complete the FAFSA and meet certain academic and disciplinary requirements. Many schools also use the FAFSA to determine eligibility for institutional or state-based financial aid. Federal aid is based primarily on financial need and is less competitive than institutional grants or scholarships for which you may also need to apply.
Contact the financial aid department at your college or university once you've matriculated. Even public schools may have scholarships or grants available for qualified applicants who are attending the university. Grants and scholarships may require certain academic, athletic or need-based qualifications. Check with your academic department once you declare your major for any departmental scholarships for which you qualify. Unlike independent scholarships, institutional grants and scholarships are administered through the academic institutions -- the college or university, the department or the alumni association -- and can only be used at that particular school.
Borrow as little as necessary to finance your education because you must repay with interest any student loans. Federal Stafford or Perkins loans typically offer the best available interest rate and subsidized Stafford or Perkins loans do not gather interest while you are attending school at least half-time. While federal loans have yearly and lifetime borrowing limits, student loans from private lenders allow you to borrow as much as the bank will lend. Private student loans may have higher interest rates, stricter repayment terms and restrictions on eligible schools.