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Your Guide to Financial Aid for High School Students: Scholarships, Grants, and More!

Writer's picture: FunCation Academy Education TeamFunCation Academy Education Team

Paying for college can feel overwhelming, but many types of financial aid are available to help students and families cover the costs. From well-known scholarships to lesser-known options, this guide will walk you through the various financial aid opportunities, ensuring you don’t miss out on ways to lower the cost of a college education.




1. Scholarships

Scholarships are free money for college, usually awarded based on academic achievement, athletic ability, community service, or other talents.

  • Merit-based Scholarships: Awarded for academic excellence, such as high GPA, test scores, or leadership.

  • Athletic Scholarships: These scholarships are given to students who excel in sports and want to play in college.

  • Community Service Scholarships: Awarded to students with a strong community involvement record.

  • Minority Scholarships: Designed to support students from underrepresented groups (e.g., Hispanic, African American, Native American).

  • Unusual Scholarships: Scholarships for specific hobbies or interests (e.g., Duck Tape Scholarship for creating prom outfits out of duct tape).


Tip: Start searching early! Check out national databases like Scholarships.com.


2. Grants

Grants are similar to scholarships but are often based on financial need rather than merit. You don’t have to repay them.

  • Pell Grant: A federal grant for students with financial need. The amount awarded depends on family income and the cost of attendance.

  • Federal Supplemental Educational Opportunity Grant (FSEOG): For students with exceptional financial need.

  • State Grants: Many states offer grants to in-state college students. California has the Cal Grant, while Florida has the Bright Futures program.

  • Institutional Grants: Colleges often provide their own grants to reduce the cost for students with financial need.


3. Work-Study Programs

Work-study programs provide part-time jobs for students with financial need, allowing them to earn money to pay for college. These jobs are often on campus, making them convenient for students.


Tip: Work-study is awarded as part of the FAFSA, so be sure to apply even if you’re not sure you’ll qualify.


4. Loans

Loans are borrowed money that you must repay, with interest. They’re an option if other forms of aid aren’t enough to cover the full cost of college.

  • Federal Direct Loans: Low-interest loans from the government are available to most students regardless of financial need.

  • Subsidized Loans: The government pays the interest while you’re in school.

  • Unsubsidized Loans: You’re responsible for the interest when the loan is disbursed.

  • Parent PLUS Loans: Loans that parents can take out to help pay for their child’s education.


Tip: Only borrow what you need and compare interest rates and repayment terms. Federal loans generally have better terms than private loans.


5. Work-Based Scholarships

Some companies offer scholarships or tuition assistance to students who agree to work for the company after graduation. Examples include:

  • ROTC Scholarships: Available to students who commit to military service after college.

  • Employer-Sponsored Scholarships: Some large corporations (like Coca-Cola or Google) offer scholarships to students pursuing degrees in fields they’re interested in.


Tip: Check with your parents' employers—many companies offer scholarships for employees' children.


6. Lesser-Known Financial Aid Options

There are a few hidden gems that families sometimes overlook when looking for financial aid.

  • Local Scholarships: Your community may offer smaller scholarships through local businesses, churches, or community organizations. These may have fewer applicants, so your chances of winning are higher!

  • Competency-Based Scholarships: Some colleges award scholarships based on proficiency in specific skills or subjects.

  • Crowdfunding: Sites like GoFundMe allow students to raise money for college from friends, family, and even strangers.

  • Scholarships for Unique Situations: If you’re a student with a unique background (e.g., homeschooling, foster care, or a first-generation college student), there are specific scholarships for you.



How FunCation Academy’s College Bound Services Can Help

Navigating the world of financial aid and scholarships can be confusing, but you don’t have to do it alone. Our College Bound services offer personalized support to help families:

  • Identify Scholarships & Grants: We’ll help you find and apply for both common and lesser-known scholarships and grants tailored to your student's interests and background.

  • FAFSA Assistance: Filling out the FAFSA is key to getting financial aid. We’ll guide you through the process and ensure you maximize your eligibility.

  • Scholarship & Financial Aid Planning: Need help organizing deadlines and applications? Our detailed planning services ensure you’re on top of everything.

  • Essay Writing Support: Many scholarships require essays, and we offer expert support to help your student stand out.

  • One-on-One Counseling: Get personalized advice on financial aid options, including which loans to consider and how to minimize debt.


Our College Bound services are available to both FunCation Academy families and non-members; we’re here to help make college more affordable.


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