Archive for October 13th, 2011

October 13, 2011

Top ten college scholarship myths

by Grace

Top ten myths courtesy of Mark Kantrowitz

  1. Only straight- “A” students win scholarships
  2. Only minority students win scholarships
  3. My child will get a full-ride scholarship
  4. Only athletes win scholarships
  5. Only the poor win scholarships
  6. Scholarships are just for high-school seniors
  7. The cost of private high school is earned back in scholarships.
  8. $6.6-billion in scholarships went unclaimed last year
  9. Colleges will just reduce other aid if a student has a scholarship
  10. Applying for scholarships is more work than it’s worth

My two cents

Myth 6:  I have no idea how to go about finding college scholarships for younger students, including those that Kantrowitz says students can apply to “as early as kindergarten”.

Myth 9:  I question this one if the “other aid” is need-based.  Most schools do not permit a student to “stack” merit money on top of need-based money.  Instead, a scholarship would simply reduce some or all need-based aid.  Anyone in this situation should check with the specific college before assuming stacking is allowed.

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