Merit aid is financial aid that is awarded to students based on their academic, artistic, athletic, or other achievements. This type of aid is usually awarded in the form of scholarships, grants, or other awards, and does not require repayment. Merit aid can help reduce the cost of college tuition and other educational expenses, making college more affordable for students who excel in their academic, artistic, and/or athletic pursuits.
Below are five ways to increase your chances of getting merit aid.
Apply early and apply to multiple schools – Many schools offer merit aid to students who apply early in the admission cycle. If you apply to multiple schools, you increase your chances of getting merit aid from one or more colleges. Remember that the early action deadlines are as early as November 1 or 15. Check with each college for exact dates.
Demonstrate excellence in academics – Merit aid is often awarded to students who demonstrate excellence in academics. Make sure to keep your grades up and take challenging courses. The minimum GPA you would need to qualify for merit aid is 3.0. The higher your GPA, the more money you may receive.
Participate in extracurricular activities – Colleges often award merit aid to students who demonstrate leadership in their schools and communities. Consider taking on roles in clubs and organizations and participating in community service projects. The key is to demonstrate your passion for a few things rather than participating in too many activities that don’t align with who you are, what you love, or your future goals.
Apply for private scholarships – Private scholarships are available from many organizations and foundations. Do some research and apply for any scholarships that you may be eligible for. Consider local scholarships that may be less competitive than national scholarships. Once you are accepted to a college, you will receive access to the university’s scholarship portal. If you spend time answering a few questions, the portals can identify over 100+ scholarships for which you qualify.
Demonstrate financial need – Many schools will award merit aid to students who demonstrate financial need. Make sure to accurately fill out the FAFSA so that schools can get an accurate picture of your financial situation. Even if you don’t think you qualify for FAFSA, some colleges require a FAFSA application to receive funds for which you are unaware. You could also experience a financial situation that may change your need to accept a student loan. Having a FAFSA on file can ensure you have a backup plan.
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