There’s no doubt about it — college is expensive, and tuition is only getting pricier.
Students who receive Pell Grants have an average unmet need of $9,800, according to a report from the Institute for Higher Education Policy. That need gap is also significantly higher for Black, Latino and Indigenous students, analysis of federal data shows.
That’s where scholarships can help make up the difference — and there’s plenty of money available, if you know where to look. The National Scholarship Providers Association reported that $100 million in scholarships goes unawarded every year, mainly due to lack of applicants.
Maegan Gaboury, an alumni coach at Victory College Prep on Indy’s southeast side, said even though many of her students receive financial aid through Indiana’s 21st Century Scholars program and Pell Grants, even another few hundred dollars goes a long way.
“Scholarship money ends up being just that extra living money that really eases the financial burden more than it does for most students,” she said. “It ends up just being the money that they can live on, which makes a huge difference to their success in college.”
Which scholarships to apply for
So of all the awards out there, what’s best for you? There are college scholarships for seemingly every interest, hobby and demographic identifier, and it can be hard to narrow it down.
Gaboury’s advice for students she mentors is to think about their interests, talents and demographics, especially qualities that set them apart from others. The more niche the interest, the more likely they are to be selected for the award.
“Have you seen representation in this? Have you seen people who look like you do this?” Gaboury asks students. “Oh, you haven’t? Well, then that’s probably something that’s special that you should focus on.”
Some places to start, per recommendations from the National Scholarship Providers Association, include ethnicity and identity-based organizations; religious or community groups; local businesses; professional associations or guilds — like the Indiana Postal Workers Union — and employers.
But while the idea of so-called free-money is great, applying for scholarships can be time-consuming and exhausting, especially during the school year.
To prioritize, Gaboury often recommends applying for more local scholarships, which may offer between $500 to $1,000. Even though the award amount may be smaller, students will have a better chance of winning the scholarship and the applications are often easier to complete.
With the colossal costs of college, some may balk at a small award in the face of thousands in tuition. If that feeling overtakes, Gaboury said it’s important to remember everything can make a difference.
“This application might take you 30 minutes and it could be $500 in your pocket,” Gaboury said. “That’s gonna be a huge relief in August when you’re on campus and you have $500 in your pocket, that you only spent 30 minutes working for, that can take care of your books and you don’t have to worry about it.”
Here’s where to find scholarships
There are a variety of scholarship match tools available to find the best match for you. But there are a lot of scams out there — so be careful.
When possible, independently verify that the scholarship is legitimate — by checking the organization’s website, for example — before giving out your personal information. And you should never pay to apply for a scholarship, according to the Federal Trade Commission.
The College Board’s scholarship search tool gives you a quiz that allows the system to match your skills, interests and background with a variety of scholarships.
Locally, Carmel-based organization INvestED compiles a list through their scholarship search tool.
INvestEd also gives out five $1,000 scholarships through a drawing each year. For prospective students, all you have to do is fill out a form.
The National Scholarship Providers Association also recommends IOScholarship for STEM students of color, the U.S. Department of Labor’s scholarship search tool and FastWeb.
Claire Rafford covers higher education for Mirror Indy in partnership with Open Campus.Are you an Indianapolis college student, faculty or staff member? Get in touch: claire.rafford@mirrorindy.org or follow @clairerafford on Instagram/X.
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