When You Are Looking For College Funding Then Do Not Overlook Institutional Scholarships

By ama | January 24, 2009


When we are considering college scholarships we tend to think about scholarships being awarded by major companies and by the larger academic bodies and these are without doubt extremely good sources of funding. However, they also carry one big problem and that is that competition is fierce with tens of thousands of applications being submitted from every part of the country. It may be a great feather in your cap to be awarded one of these scholarships but your chances of that happening are almost as good as they are of winning the lottery.

For the majority of students a better answer would be to look for an institutional scholarship.

Almost all colleges will award at least one institutional (in-house) scholarship annually and a lot of the larger colleges will award several, often making scholarships available within each separate department of the college. If you are enrolled at one of the larger colleges therefore it is possible that you could be eligible to apply for a number of scholarships within your own institution.

Despite the fact that institutional scholarships have been around for a long time, surprisingly enough a relatively small percentage of students apply for them when compared to the well publicized and better known national scholarship schemes. Now one important thing to note here is that most of these scholarships will not cover the full costs of attending college and a large number will be restricted to cover just tuition fees, or to cover just housing costs. Nonetheless, the sums of money available are frequently substantial and they can certainly help a great deal when paying your bills.

A lot of the larger colleges will also have departments that are dedicated solely to student financial aid, including scholarships, and will give you details of just what scholarships are on offer and how to go about applying for them. This can be a very good place to start as you can obtain a lot of information to point you in the right direction and help to ensure you get your application in on time. You will also find that some colleges have websites that also provide valuable information about available scholarships, including details of how to apply.

If you are conversant with the application procedure for nationally available scholarships, you will find that the process is in effect the same for institutional scholarships. Every scholarship will however have its own particular requirements and so you need to make sure that you read through these with care and follow any instructions precisely. In addition, make sure that you check carefully to make sure that you are eligible for any scholarship before applying. Almost all scholarships will have a list of criteria which have to be met before submitting your application and, if you are uncertain, you should ask the awarding body before applying.

One of the benefits of of institutional scholarships is that, as there is lower competition, you do not normally have to wait too long before you find out whether or not your application has been successful. Another benefit (which might not seem like a benefit) is that, if you do not succeed, you will nonetheless gain valuable experience of the application procedure at your college and will be better prepared when it comes to making a further application in subsequent years.

Just before leaving the subject of scholarships for college students it should be noted that these are only one alternative to the better known national scholarship programs. There are however many other sources of scholarship funding, not the least of which are the much overlooked credit union college scholarships.

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