7 Must-Knows for Merit-Based Scholarships
Excited about heading off to college but not sure how to pay for it? Navigating the world of scholarships can be daunting, but BigFuture is here to help. There are thousands of scholarships you can apply for, and our scholarship matching tool makes it easy to find the ones that fit you best. Let’s explore the seven must-knows for merit-based scholarships. These insights will help you understand what these scholarships are, how they work, and how you can increase your chances of winning one.
1. Understanding Merit-Based Scholarships
First, what exactly is a merit-based scholarship? Unlike need-based scholarships, which are awarded based on financial need, merit-based scholarships are awarded based on a student’s academic, athletic, artistic, or other abilities. These scholarships are offered by various organizations, including colleges, corporations, and private organizations.
2. The Importance of GPA
Your grade point average (GPA) plays a significant role in securing a merit-based scholarship—most of them have a minimum GPA requirement. Maintaining a high GPA throughout high school can increase your chances of receiving a merit-based scholarship.
3. The Role of Standardized Tests
While some colleges are now test optional for college admissions, standardized tests like the SAT® or ACT are often used by scholarship committees to evaluate applicants. A high score on these tests can make you a more competitive candidate for merit-based scholarships. If you want to prepare for the test or improve your score, the College Board offers free Official SAT Practice in partnership with Khan Academy®.
4. Extracurricular Activities Matter
Merit-based scholarships aren’t just about grades and test scores. Your extracurricular activities can also make a difference. Sports, music, volunteering, or leadership roles, can show your skills and commitment, making you a more competitive candidate.
5. The Application Process
The application process for merit-based scholarships can be rigorous. It often involves submitting transcripts, letters of recommendation, essays, and sometimes even interviews. It’s important to start the application process early and pay close attention to the requirements and deadlines.
6. Scholarship Availability
Both national and local merit-based scholarships are available. National scholarships tend to be more competitive but also offer larger awards, while local scholarships may be less competitive and easier to win. BigFuture Scholarship Search is the go-to resource for finding scholarships that match your background, interests, and goals. And you should also talk to your counselor about potential scholarships they think you might be a great candidate for.
7. Scholarship Renewability
Finally, it’s important to note that some merit-based scholarships are renewable, meaning they can be awarded for more than one year. They often have requirements recipients must meet to continue receiving the award, such as maintaining a certain GPA.
Merit-based scholarships can be a great way to pay for college. By understanding these seven things, you’ll be better equipped to navigate the scholarship landscape and increase your chances of securing a merit-based scholarship. Remember, there are thousands of scholarships out there and other ways of securing aid for college. Keep applying, learn about financial aid, and your efforts will pay off.