Top need-based scholarships for students

It’s the 21st century; people have freedom of speech, choice, culture, education, and more. If some factors are stopping us from achieving our goals, we ought to find them and resolve them. Education is a boon to humanity. Everyone needs a chance at education as a fundamental right. Need-based scholarships offer you the much-needed opportunity for education if you are financially unstable.

How do you qualify for a need based scholarship?

The basic answer is that it depends on the scholarship you are applying for. More precisely, each scholarship has eligibility requirements that students must meet, and there is no set income limit for all opportunities. Many schools, however, use a similar method to determine needs. This is as follows-

The cost of attendance (tuition plus room and board, textbooks, supplies, and so on) minus the expected family contribution equals student need.

You can determine a student’s need by completing the Free Application for Federal Student Aid (FAFSA) in the case of sponsorship by schools, federal government grants, and some private scholarships. 

Financial need scholarships are often awarded to students who qualify for a federal Pell Grant. Though it varies, most Pell Grants are awarded to students from families earning less than $20,000 per year, but students from families earning less than $50,000 per year are also eligible.

Here are some of the top need-based scholarships for students

A Helping Hand Scholarship 

• Eligibility- All low-income graduating high school seniors who plan to enroll in community college, career training programs, or four-year colleges/universities in the fall of 2022 are eligible. Current college-going and graduate students in need of financial assistance may also apply.
• Amount- $500
• Deadline- August 31, 2022

$40,000 BigFuture Scholarships

• Eligibility- There are no essay, minimum GPA, test score, and citizenship requirements for US-based high school students graduating in 2023.
• Award- Up to $40,000 per month
• Deadline- August 31, 2022

College Board “Complete Your FAFSA” Scholarships

• Eligibility- High school seniors
• Amount- 500 awards worth $500 
• Deadline- Varies

Horatio Alger Career & Technical Scholarships

• Eligibility- Students eligible for technical programs can enroll.
• Amount- $2,500
• Deadline- Rolling

Gates Scholarship

• Eligibility- Applicants must be Pell-eligible high school seniors who identify as African-American, American Indian/Alaska Native, Asian & Pacific Islander American, or Hispanic.
• Amount- Full funding of all costs not covered by financial aid and contributions from family members.
• Deadline- September 15, 2022

Questbridge National College Match Scholarship

• Eligibility- High school seniors who have demonstrated financial need (while Questbridge does not limit to first-generation students, 70% of finalists are).
• Amount- Full funding (tuition, room, and board) for four years
• Deadline- September 27, 2022

Elks Most Valuable Student Scholarship

• Eligibility- High school seniors
• Amount- Up to $50,000
• Deadline- November 15, 2022

Ron Brown Scholars Program

• Eligibility- Students in high school who are Black/African American and demonstrate financial need.
• Amount- $10,000 per year for a total of $40,000
• Deadline- January 9, 2023

Greenhouse Scholars Scholarship

• Eligibility- High school seniors who demonstrate financial need in Colorado, Georgia, Illinois, or North Carolina.
• Amount- $22,000 over four years
• Opens- September 1, 2022

Hagan Scholarship 

• Eligibility- Seniors who demonstrate financial need with significant accomplishments in high schools in rural areas of the United States.
• Amount- $48,000
• Opens- September 1, 2022

What is the difference between a need-based and merit-based scholarship?

The primary distinction is that a need based scholarship will consider a student’s financial situation and will concentrate on aiding students who need financial assistance the most. A merit-based scholarship will support students with specific talents or ‘merits’ as determined by the scholarship committee.

Merit scholarships are typically awarded based on various criteria, such as GPA, test scores, extracurricular activities, and internships. Many scholarships choose their beneficiary based on a combination of need and merit. As a result, if you have good grades and test scores and apply for need-based scholarships, you will have a better chance of qualifying for scholarships.

Federal and State Government Scholarships

The United States Department of Education provides need-based aid through grants and work-study. When your school’s financial aid office receives your FAFSA, it will make you an offer based on your EFC. It’s also known as an award letter. It specifies the types of assistance available, as well as the total amounts and outstanding costs. The letter may mention a college scholarship if you are a first-year student.

Federal Work Study

This program allows eligible students to earn money for school by working part-time. In most cases, you must apply and be interviewed for these positions. You can find work on or off campus. Common work-study jobs include office assistant, lab research, cafe worker, and others.

TEACH Grant

TEACH Grant eligible programs are available at some colleges. You might be eligible if you’re a current undergraduate, graduate, or postgraduate student at one of these institutions. Qualified applicants must have a 3.25 GPA and sign a service contract. This states that you agree to teach full-time in a high-need field at a low-income school upon graduation. In exchange, this federal grant offers up to $4,000 per year.

Key takeaways

• Need-based scholarships provide you with the opportunity and financial stability to pursue your dreams.
• Students who qualify for a Federal Pell Grant can be awarded the financial need scholarship.
• The critical difference between need based and merit scholarships is that the former pays attention to financial stability while the latter focuses on the merits of a student.

Did you find this blog informative? If so, please share your thoughts in the comments below. Click here to reach out to us for more information on need based scholarships. We would be happy to assist you with your queries.

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FAQs

Q1. Does Harvard have need-based scholarships?

Answer- Harvard provides need-based scholarships to 55% of undergraduates. 20% of Harvard parents earn less than $65,000 per year and hence are not expected to contribute.

Q2. Which country is the best for scholarships?

Answer- Countries such as the United States, the United Kingdom, Germany, France, and Australia are among the promising study abroad destinations that have drawn many students from around the world due to their excellent education systems and post-study employment opportunities.

Q3. What GPA do you need to qualify for a scholarship?

Answer- Scholarship providers typically require a GPA of 3.5 to 4.0 to attract high-achieving students.