Private Scolership

When we are researching for colleges and scholarship and financial aid online we often here that millions and billions of dollar are awarded to student there are even scholarship search engine all round the web who claim to help you find a great deal of financial relief in form of scholarship.well yes there are private scholarship out there but most of them are not worthy of the effort and or are scholarship scam who ask you a nominal fees of like 20$ or 29.99$ and guarantee a scholarship while in reality there is no scholarship.In a survey conducted few years ago only 7% of all college grants came from private scholarships. But here’s an even more discouraging statisticSeven percent of undergraduates receive private scholarships with an average value of $1,982, and 5 percent of graduate students received private scholarships averaging $3,091.

HARM:Even if you win the private scholarship college could reduce your financial aid package by the amount of the award. So if you wins a $3,000 private scholarship the college could reduce the aid package by $2,000-$3000. The reason for doing that could be that those applicant who didn’t received a private funding and are needy will get a better slice of college fund.

What to do then?

A wise student realizes that that the vast majority of scholarships come from the colleges and universities themselves. And what’s great about these institutional merit awards is that they typically last for four years. In contrast, private scholarships are typically a one-time occurrence.

One way to find these scholarships is by visiting the financial aid section of a college’s web site. Many schools are quite specific about how teenagers can qualify for these awards.And one more thing is that these aid are awarded on both basis merit and need.so an average joe can get a $5000 as aid and a class brain can earn a scholarship paying 80% of his need.So best place to research and gain financial aid is the college websites themselves so always research the financial aid section of college website.

The time consumed on researching private scholarship can be used to raise SAT scores and GPA and in extracurricular activities these are the factor that help you get good financial aid from colleges.