Scholarships are a type of financial aid called “gift aid” that does not need to be repaid. High school seniors are encouraged to apply for as many scholarships as possible to help fund their postsecondary education. But between submitting admission applications and postsecondary decision-making, adding scholarships to the to-do list may seem overwhelming. And while students know there are thousands of scholarships “out there,” finding realistic opportunities can be a challenge. Students should start by understanding the different types of scholarships, how to prioritize their search, and the best sources for attainable opportunities.

Institutional Scholarships

Institutional scholarships are awarded by colleges, universities, or career technical education centers to admitted students. These should be a student’s top priority when searching for opportunities. Why? Schools typically award a large number of institutional scholarships, and these scholarships are typically high in dollar value and renewable for all four years.

A few things to know about institutional scholarships:

• They are awarded based on merit and/or financial need.

• Some schools award merit scholarships based entirely on admission applications, if submitted by the school’s scholarship eligibility deadline. Sometimes a separate scholarship application, essay, or interview is required.

• The best sources for institutional scholarship information is college websites and their financial aid offices.

National Scholarships

National scholarships are another type of external scholarship that do not have a geographic limitation within the U.S. These should be a student’s last priority in their scholarship search due to the competitive nature of the scholarship – a single scholarship could have thousands of applicants.

Still, students who have completed their institutional and local scholarship applications and are determined to leave no stone unturned may want to consider applying for national scholarships. Students should look for (1) niche opportunities with narrow criteria that is unique to them, and (2) opportunities where many (a hundred or more) scholarships will be awarded.

National scholarships:

• • Are awarded by national organizations, businesses, and individual donors based on a wide variety of criteria.

  • Have wide-ranging award values and may be renewable.

  • Have year-round deadlines.

  • Can be found online on scholarship search websites like Appily, BigFuture, FastWeb, Going Merry, The Hispanic Scholarship Fund, ScholarshipOwl, and The United Negro College Fund.