This week

Scholarships

• Feature —Debunking myths: The truth about scholarships
• Your turn —High test scores and class rank are key to scholarships
• Stay on track — A checklist of "to-dos"
• Take notice — Important dates
• All about AIEmail — Subscribe, suggest, review

Feature

Debunking myths: The truth about scholarships

You've probably heard a lot of misinformation about scholarships. Here are some common myths — and some of the truths behind those myths.

Millions of dollars in scholarships go unclaimed each year.
When you hear statistics like this, many times these numbers include money that could be spent by businesses on employees who are eligible for training programs.

It is true that some scholarship programs have requirements that few people are able to meet. But the vast majority of programs have requirements that apply to a large part of the population.

In addition, some scholarship programs aren't publicized effectively, so students may not apply because they aren't aware that they exist.

Scholarship search services have high success rates.
According to industry statistics, more than 90 percent of students who use fee-based search services receive only lists of scholarships. This doesn't mean that these services actually obtain funds on behalf of the students. College surveys have found that the actual percentage of students who receive scholarships because of such services is about one percent.

So it all really depends on how you define "success." As a student seeking scholarships, you should define "success" as actually obtaining a scholarship, as compared to only obtaining information about a scholarship.

It's not what you know, it's who you know.
On very rare occasions, students may actually be given scholarships because they know someone. Most of the time, however, this is not the case. In fact, it happens so rarely that researchers don't include these situations in their findings.

In most cases, students who apply for scholarships are evaluated based upon such factors as their knowledge, their academic and extracurricular achievements, and their potential for success in college.

The more scholarships I receive, the less need-based financial aid I'll receive.
There is some truth to this. When you apply for financial aid, you are required to report all scholarships (as well as other sources of funds) that you will use for your education. Scholarship funds may change the amount of "need" you have according to the federal government. As a result, you may receive less need-based financial aid than if you didn't have any scholarships. However, receiving a scholarship is more likely to reduce your reliance on loans.

If your eligibility for financial aid is high enough, a scholarship may not affect your assistance. Each situation is different, and your guidance counselor or a financial aid counselor at a local college can explain this in more detail.

Regardless of your situation, you should apply for federal financial aid as well as any scholarships you may be eligible for.

Minorities have a better chance of receiving scholarships.
Although there are some situations in which scholarships have been set aside for minorities, remember that each scholarship program has specific criteria. For example, some scholarships are offered only to students who play specific sports, or only to students who come from specific communities, or for students whose parents work for a specific company or belong to a specific organization.

The truth is that there are scholarships available to almost anyone. Your task is to do a little bit of research to find those for which you are eligible.

Source: TASFAA High School Workbook 2008-2009, Texas Association of Student Financial Aid Administrators (www.tasfaa.org)

Back to top

Your turn

High test scores and class rank are key to scholarships

For many scholarship committees, your scores on the SAT and ACT exams along with your class rank are the main factors in evaluating your potential. Other factors that committees consider include achievement, extracurricular activities, work and volunteer history, and writing quality.

Source: TASFAA High School Workbook 2008-2009, Texas Association of Student Financial Aid Administrators (www.tasfaa.org)

Back to top

Stay on track

Checklist for this week

For freshmen

• Organize your long-term school projects. Use a calendar and get things done before you're caught in a "crunch."
• Break down a big project into pieces. That way, you can complete tasks and meet goals more quickly.
• Spend every night working on something related to school. If you don't have projects due the next day, read ahead or go over notes.
• Ask your teacher if you don't understand your assignments. If you don't understand, chances are that others don't understand as well.
• Get your projects done early and use the day or night before to review. It's amazing how much you can improve an assignment after you have reviewed it.
• Reward yourself for your hard work when you're done!

For sophomores

• October is the month to take the PLAN, offered by the ACT Program. The PLAN is good preparation for taking the ACT. Visit the PLAN Web site (www.act.org/plan/index.html) for more information.
• Use a calculator on the math section of the test.
• When you receive the results, read the report carefully. It will offer you clues on your interests and give you ideas on future careers.

For juniors

• Start working more closely with your teachers. They can serve as excellent resources for information and provide references and recommendations for you as you complete high school.
• Some applications ask your teachers to "rank" you or "rate" your performance in class and at your school. Pay attention to this and make sure you demonstrate these attributes in class.
• Ask teachers for help. The more interested you are in your studies and in your future, the more impressed teachers become.
• Continue focusing on your studies. The learning experiences you have now will help you well into the future.

For seniors

• It's college application time. Start preparing your applications and gathering the information you need to complete them.
• Use your legal name on all applications. Label all forms with your name, so that the school will know who submitted the forms.
• Start figuring out how many transcripts you will need from your school, and who needs to receive them. Request these as early as possible.
• Work with your counselors, teachers, employers, and others to get the letters of recommendation that you need to submit for various applications. AIE offers a Letter of Recommendation Form (www.AIE.org/Handouts/LetterOfRecommendation.pdf) that can help you. Write thank-you notes to everyone who helps you with this process.
• Spend ample time preparing your admissions essays. Often, essays are the most important, and most difficult, part of your applications. Make sure your completed writing is free of errors and ask others to review your work.
• Review your calendar and make sure you are keeping up with all necessary deadlines.

For parents

• If you have a senior, make sure that he or she is taking or has taken the SAT and/or ACT exams. Review test dates, arrange for transportation, and encourage your student to study for these exams.
• Check in with your senior about their progress with college applications.
• If you have a junior or sophomore, the PSAT is the test to look for now. The PSAT is "practice" for the SAT. Call your school's counselor for the test date and make sure your student takes the exam.

Back to top

Take notice

Important dates

To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web site (www.collegeboard.com) or call (866) 756-7346.

To get more information on the ACT, access useful tools, or register, visit the ACT Web site (www.act.org) or call (319) 337-1270.

Back to top

All about AIEmail

Subscribe, suggest, review

• To change your e-mail address, change the format in which you receive AIEmail, or cancel your subscription, please visit the AIEmail subscription area (www.AIE.org/AIEmail/subscribe.cfm).
• If you have problems stopping your subscription or have comments about AIEmail, please send a message to webmaster@tgslc.org.
• Visit the AIEmail Archive (www.AIE.org/AIEmail/archive.cfm) for past issues.

Bookmark & Share:

AIE is a free public service of TG.
©2008 Texas Guaranteed Student Loan Corporation (www.tgslc.org)