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 scholarships worth .

Denny’s ‘Hungry for Education’ Scholarship

This award is available for U.S. high school seniors who are 16 years of age or older at time of application. Students must have a grade point average of 2.5 or higher, be involved in community service, and demonstrate financial need.
Award Amount

Total: $1000

Awards: 200

Deadline

Deadline: December 31

Northern California Asian Peace Officer’s Association Scholarship

This award is offered to full-time students planning to major in law enforcement or a related field. Students must have a grade point average of 2.0 or higher to apply, and do not have to be of Asian descent.
Award Amount

Total: $1000

Awards: 3

Deadline

Deadline: January 11

Arizona Nurses Foundation Academic Scholarship

This award is available for students who are legal residents of the state of Arizona. Students must have been accepted to or currently be enrolled in an academic nursing education program based in Arizona.
Award Amount

Total: $1333

Awards: 36

Deadline

Deadline: January 12

NSPS Board of Directors Scholarship

This award is open to students entering their junior year of surveying studies. Students must have a grade point average of 3.0 or higher.
Award Amount

Total: $2000

Awards: 1

Deadline

Deadline: January 15

Massachusetts Federation of Polish Women’s Clubs Scholarship

This award is for U.S. undergraduate students who are of Polish descent. Students must have a grade point average of 3.0 or higher. First preference is given to residents of Massachusetts.
Award Amount

Total: $1250

Awards: 1

Deadline

Deadline: January 15

Dr. Marie E. Zakrzewski Medical Scholarship

This scholarship is available for U.S. female students who are of Polish descent and enrolled or planning to enroll in medical school. Students must have a grade point average of 3.0 or higher. First preference is given to residents of the state of Massachusetts; qualified residents of New England are considered if no candidates from first preference apply.
Award Amount

Total: $3500

Awards: 1

Deadline

Deadline: January 15

Saline County Single Parent Scholarship

Undergraduate single parents who reside in Saline County, Arkansas and have a grade point average of 2.5 or higher are eligible for this award. Students must live at or near the poverty level and have one or more children under the age of 18.
Award Amount

Total: $500

Awards: 500

Deadline

Deadline: January 15

Scholarship Foundation of Santa Barbara Medical/Graduate Scholarship

This award is for U.S. graduate students who are legal residents of Santa Barbara County, California. Students must have graduated from a Santa Barbara County high school and plan to be enrolled full time.
Award Amount

Total: $3000

Awards: 120

Deadline

Deadline: January 15

Texas Top 10 Percent Scholarship Program

This scholarship is available for Texas residents who are graduating from an accredited Texas high school and rank in the top 10 percent of their graduating class. Students must plan to enroll full time in a Texas public two- or four-year college or university, and demonstrate financial need.
Award Amount

Total: $2000

Awards: 1

Deadline

Deadline: January 15

McDonald’s Of Pinellas County Employee Scholarship

This scholarship is available for high school seniors in Pinellas County, Florida who have been employed by a local area McDonald’s restaurant for at least six months at the time of application. Applicants must have a grade point average of 3.0 or higher.
Award Amount

Total: $1000

Awards: 5

Deadline

Deadline: January 15