It’s no secret that attending college is a costly endeavor. In addition to tuition, there is room and board, meal plans and course materials that students must purchase throughout their college journey.

Tuition, in particular, takes a major toll on students and their families. The most common way to pay for college tuition is through the use of federal or private loans. Although, there are other options available at no cost. These are scholarships and grants.

Students can receive scholarships or grants through the state where they permanently reside in or attend school. They can also receive scholarships and grants through a federal financial aid award package, the Free Application for Federal Student Aid (FAFSA), college/universities or private sources. Private sources might include, but are not limited to, military, individual donors, communities, non-profit organizations, ethnic/historical organizations and businesses.

Undergraduate students received 52% of higher education funding from grants from 2012 to 2013, according to College Board, a non-profit organization that assists more than seven million students prepare for a successful transition into college. More than $122.7 billion were also awarded to students through scholarships and grants.

Two thirds of college graduates have received and utilized scholarships and grants. This indicates that around 1.2 million out of 1.8 million college students each year are receiving financial aid they will never have to repay. On average, one full-time undergraduate student enrolled in a private, non-profit college or university receives $15,680 each year, according to College Board. This amount continues to climb each year.

Scholarships and grants, however, will not be awarded to students unless they take the time to apply and utilize the free resources that are provided to them. At SNHU specifically, there are Named and Endowed Scholarships that are available to students each year. There are a large array of scholarships from various backgrounds, majors and academic class. Students typically will need to write an essay describing why they are qualified for the scholarship and why the donor should gift them the scholarship.

This year, the deadline to apply is Friday, March 15, 2019. When decisions are finalized, students will hear back in May if they have been awarded a scholarship. To apply, learn more and view scholarship eligibility, view: https://my.snhu.edu/Offices/SFS/FinancialAid/Scholarships/endowed/Pages/default.aspx

Amy Sumsion
Amy is a junior at SNHU in the Bradley Three Year Honors Program studying Business Administration with a concentration in Accounting. Along with her involvement in the newspaper, Amy also dedicates her time as Treasurer of the National Society of Collegiate Scholars while being the general member for other clubs on campus such as Admission Student Leaders and CAPE. She is also the Financial Literacy Assistant for Student Financial Services. Amy looks forward to her second year in the Penmen Press and her continuing role on the newspaper writing about financial literacy.

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