Did you know, the average college student graduates with about $22,000 in debt. The problem is, most of these students qualify for essentially free money for college but never apply. So, to help these and other students get the money they definitely need, this infographic on how to get free money for college through state and federal grants, as well as scholarships and more should be helpful. Some of the highlights include —
- In 2007-2008 the average amount of aid received by students was $9,100.
- In 2010-2011 the average amount of aid received by students was $12,400 out of which $6,500 didn’t need to be repaid.
- Every year over 1.5 million qualifying students miss out on Pell grants because they didn’t fill out the FAFSA.
- FastWeb lists more than 1.5 million scholarships worth more than $3.4 billion.
From: Online Colleges Blog
There is great discussion among parents about whether or not scholarship applications are worth it. I happen to be one who believes they are. My daughter attended an expensive private university based on the scholarships she won from outside sources and from the university itself. Those scholarships allowed her to attend a school that was financially out of reach. Hence, I’m a firm believer in the value of scholarships.
Here are 3 reasons I believe ALL college-bound students should apply:
- Scholarships help reduce the cost of college-Free money is always better than money you have to repay.
- Many times, the effort required on your part is minimal-Numerous employers hand out money to worker’s kids without requiring much more than a one-page application. Grab that cash!
- Your family might not qualify for need-based aid-In this case, scholarships can eliminate the need to dip into savings or retirement to fund college expenses.
Applying for scholarships, in my mind, is a no-brainer. What have you got to lose? FREE money for college. I don’t know about you, but in today’s economy, it makes even more sense.
Helping parents navigate the college maze
