Need-Based Scholarships

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What is a Need Based Scholarship?

Need based scholarships are given to students who show financial need. These awards determine eligibility based on family income. Financial need may come from filling out the FAFSA. About 58% of low income families used need based scholarships in 2019, according to a Sallie Mae study. A scholarship is a monetary gift. you typically do not to pay back the funds compared to a student loan. So receiving a scholarship may make college more affordable. 

10 Scholarships for Financial Need You Should Apply for

There are plenty of need based scholarships for college students. Start your scholarship search with these ten awards. Then look for more scholarship opportunities based on your goals, major and interests. 

1. GE Reagan Foundation Scholarship Program
2. Dell Scholarship Program 
3. Jackie Robinson Foundation Scholarship 
4. Jeannette Rankin Women’s Scholarship
5. UNCF Koch Scholarships
6. Smith College Need Based Financial Aid
7. Anarcha, Betsy, and Lucy Memorial Scholarship Award
8. AKA Educational Advancement Foundation Graduate Financial Need 
9. National Association of Hispanic Nurses Scholarships
10. Educational Opportunity Fund (EOF) – Graduate Student Grant (NJ)

How Do You Qualify for Need Based Scholarships?

To qualify for need based scholarships, the first step is to fill out the FAFSA. The Free Application for Federal Student Aid is a standard form to determine financial aid. The federal government, states and colleges use it. FAFSA forms are available on October 1st so make sure to apply by the deadline.

The FAFSA asks questions about family income, taxes, and other assets. This helps find what you are able to pay or your expected family contribution (EFC). You also list the colleges you applied to and the cost of attendance. Based on the math: COA minus EFC equals your unmet financial need. Keep in mind that tuition may vary over time but your EFC could stay the same. 

Here are some general eligibility requirements for need based scholarships: 

• Full time enrollment status
• U.S. citizen or legal resident 
• Plans to attend an accredited two or four year college in the United States
• Have a high school diploma or GED

With all these factors, there are need based scholarships for students majoring in certain subjects. UNCF STEM Scholars Program is one example. This award is for Black high school students. You must have at least 3.0 GPA and plans to pursue a STEM career.

What is the difference between need based and merit scholarships?

Need based scholarship is given to family assets and income while merit scholarships are based on academic success. The main goal of need based aid is to make college more affordable for low income families. Your GPA and test scores may not be a factor in receiving financial need awards. Assuming need is not a criteria, undergraduate students of all income levels may also qualify for merit scholarships.

Merit scholarships are for high achieving students. They look at academic achievements. You typically need a strong GPA and test scores in order to qualify. Other criteria such as community service, leadership, and other talents could help you earn a merit award. 

Where Do You Find Scholarships Based on Financial Need?

Many high schools, colleges, companies and nonprofits provide need based college scholarships. Federal and state governments also offer financial aid based on need. You should also look for local awards within your community. Your scholarship search should include awards based on your academic achievements, major, and personal interests.

The Jack Kent Cooke Foundation College Scholarship Program is for high school seniors with financial need. Eligible students may receive up to $40,000. You must be attending a four year undergraduate school. Many Cooke scholars exhibit a 3.5 GPA or higher and participate in community service projects. If you are selected, you may work with an education adviser. You also may attend a Scholars Weekend event in Washington D.C. 

Jeannette Rankin Women’s Scholarship Fund is for women over 35 years old who show unmet financial need. JRF Scholars may receive up to $8,000. The award empowers non traditional students to pursue undergraduate program or trade skills certification.

Federal and State Government 

The U.S. Department of Education offers need based aid as grants and work study. Once your school’s financial aid office has your FAFSA, it uses your EFC to make you an offer. It’s also called an award letter. It states the types of aid available, total amounts and outstanding cost. The letter may state a college scholarship especially if you’re a first year student.

Federal Pell Grants

This is the largest need based federal grant program. Amounts change but the maximum amount is $6,345 for the 2020 to 2021 academic year. According to Sallie Mae’s How America Pays for College 2020 report, 48% of families relied on grants to pay for college. Although grants are renewable, you may have to keep up with the terms and reapply each year. 

Federal Work Study

This program allows eligible students to earn money to pay for school through a part time job. As a rule, you must apply and interview for these jobs. You may find on campus or off campus work. Some typical work study jobs include office assistant, lab research, cafe worker, and others. 

TEACH Grant

Some colleges offer TEACH Grant eligible programs. If you’re enrolled as an undergraduate, post bachelor’s or grad student at one of these schools you may qualify. Eligible applicants need a 3.25 GPA and must sign a service contract. This states that upon graduation, you agree to teach in a high need field, full time and at a school that serves low income students. In return, this federal grant provides up to $4,000 per year.

State Grants

Many states have a certain amount of need based grants. You may have to fill out a FAFSA as well as state form and be accepted to a public four year college in your state. Just make sure to meet all application deadlines since they may differ.

List of Scholarships for Financial Need

Check out our list of 1,560,518 scholarships worth $6B.

Clarkston Scholars Scholarship

The mission of the Clarkston Scholars program is to create equitable access and opportunities for low-income, first-generation college students with the intention of developing a future Clarkston steward. To be eligible, applicant must be a sophomore at one of Clarkston’s Core Schools (University of Michigan, Babson College, UNC Chapel Hill, NC State, Georgia Tech, Agnes Scott College, Spelman College, Clark Atlanta University, Morehouse College, University of Arizona or Arizona State University).

Total: $10000

Awards: 1

Deadline: December 13, 2023

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Burger King Scholars Program

Through the Burger King? Scholars Program, we have awarded nearly $60 million to over 45,000 students across North America since 2000. Our goal is to grant one scholarship for every BK restaurant in North America –that translates to more than $7 million each year! ? Created in memory of Burger King Co-Founder James “Jim” W. McLamore, the Burger King? Scholars program provides scholarships ranging from $1,000 to $60,000 to high school students and BK employees and their families. Scholarships are intended to offset the cost of attending college or post-secondary vocational/technical school. Recipients are selected through an application process that takes into consideration their grade point average (GPA), work experience, extracurricular activities, and community service. In 2022 alone, the Foundation awarded over $4.6 million in scholarships to nearly 4,000 students. ?

Total: $4000000

Awards: 3700

Deadline: December 15, 2023

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“Mom to Scholar” Scholarship for Mothers

The “Mom to Scholar” Scholarship for Mothers is open to mothers who want to begin or resume their journey towards earning a technical or college degree. This scholarship is funded by Scholarships360’s own Maria Geiger, who started her journey toward a B.A. at the same time that her oldest son Will started college. Maria knows firsthand how challenging it is to raise a family, have a job outside the home, and attend college, but would not change the way she did things for the world. Mothers who have a desire to earn their college degree bring unique perspectives that greatly enhance their learning experiences; for some, motherhood is a vocation that enlightens like no other. If you are a mother over the age of 35 who feels that the time is right to begin your academic or career journey, please apply!

Total: $500

Awards: 1

Deadline: January 31, 2024

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“A Helping Hand” Scholarship

At Scholarships360, we know how hard it can be to pay off the hefty costs of a college tuition. Oftentimes, this is even more difficult for students coming from low-income backgrounds or for those who demonstrate financial need. This is where our “A Helping Hand” Scholarship comes in! We’re offering a $500 scholarship to help out a low-income student who is passionate about their higher education journey and is actively looking for ways to fund it. This award is open to high school students in the graduating class of 2024, as well as undergraduate and graduate students enrolled during the 2023-24 academic year. The “A Helping Hand” Scholarship will be awarded to students based on both the quality of their essays and quantity of scholarships applied for on the Scholarships360 platform. In order to apply, students should submit an essay detailing how winning the scholarship would help you fulfill your dreams. We look forward to reading your application!

Total: $500

Awards: 1

Deadline: January 31, 2024

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Community Leaders Scholarship

To help students who are seeking a career in public service and who have an interest in helping others in their communities, we have created the Spencer & Associates Community Leaders Scholarship. Through this program, we provide financial assistance to college students who have demonstrated an interest in serving their communities and who are pursuing careers in criminal justice, law enforcement, or other legal fields. Through the Community Leaders Scholarship, our firm awards $1000 each semester to an undergraduate or graduate student. Please see the requirements for eligibility and the instructions for applying below.

Total: $1000

Awards: 1

Deadline: February 06, 2024

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Hopkins Scholarship

These make up the majority of our financial aid offers and come from our institutional funds and endowments. They are automatically included in your financial aid offer and don’t need to be paid back. The amount varies depending on your financial need, and can change from year to year if your family’s household or financial circumstances change.

Total: $3000

Awards: 1

Deadline: March 01, 2024

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Clark Scholarship

The A. James Clark Scholars Program forms a cohort of some of the most talented engineering students in the nation and provides a generous merit scholarship, which does not need to be repaid, for students to use toward college costs. Working together under the guidance of a faculty mentor, Clark Scholars participate in specialized academic programs and service opportunities designed to develop future leaders and enhance their undergraduate experience. Throughout the year, Clark Scholars network with professional engineers, learn from experts in their fields during leadership seminars, and contribute to their community through guided service-learning projects. Scholars gain practical engineering experience as part of an innovation team, comprised of fellow Clark Scholars, and are challenged to develop solutions to real-world societal needs. The program also provides students with resources and assistance finding internships based on their interests and fields of study. Scholars meet annually with representatives from the Clark Foundation to discuss their Hopkins experiences, speak with professional engineers from the Clark Construction Company, and are invited to an annual lunch with the Dean of the Whiting School of Engineering.

Total: $1000

Awards: 1

Deadline: March 01, 2024

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Hodson Gilman Scholarship

The Hodson Trust and Hodson Gilliam Success scholarships are awarded on the basis of leadership and academic and personal achievement. The scholarship provides approximately two-thirds of the annual tuition costs for around 20 exceptional first-year students. Hodson Scholars are part of a competitive cohort of students who have achieved excellence not only in their academics, but also in their extracurricular pursuits, and are actively engaged and eager to take the initiative to make meaningful change in the world. As Hodson Scholars, our students have the chance to engage in meaningful conversations, learn from different perspectives, and collaborate with their peers as they develop their academic and co-curricular passions. While each student at Hopkins has the opportunity to build their own path, Hodson Scholars provide a community to learn with and from each other as they grow in their capacity to contribute to the community both at and beyond Hopkins. Scholarship recipients enjoy the advantages of being part of this distinctive community, such as joining the Hodson Scholar Student Advisory Board and participating in a mentoring program between incoming students and upperclassmen.

Total: $5000

Awards: 1

Deadline: March 01, 2024

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Cummings Scholarship

The expanded cohort program is named after the late Congressman Elijah E. Cummings, who held strong and meaningful connections to the Hopkins community, the Baltimore community, as well as to Washington, DC. Congressman Cummings’ commitment to community, demonstrated personal and positional leadership, focus on expanding opportunity for others, and his strong belief in investing in our nation’s future through our youth, serve as the Program’s guiding foundational elements. This cohort experience offers a generous, two-tiered financial aid program that recognizes high-achieving Baltimore City and Washington, DC public school, and public charter school, graduates from families that earn up to $150,000 and have typical assets.

Total: $1500

Awards: 1

Deadline: March 03, 2024

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Catch a Break! Scholarship

Catch A Break! Scholarship program will be celebrating its 10th year in 2024. CAB! has awarded $1.6 million in scholarships to date. CAB! awards $11,000 per year/renewable for 4 years 15 scholarships available each year CAB! is also more than just financial support: scholarship recipients receive community support throughout their college years. Each CAB! scholar receives an individual mentor, and there are 3 community events per year to foster social support and networking. Earning a scholarship through CAB! comes with an built-in community.

Total: $44000

Awards: 15

Deadline: March 15, 2024

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