Types of Scholarships Scholarships are financial awards given to students to help cover the cost of their education. They come in various forms and can significantly offset college costs, reducing the amount parents need to save for their kids' college. Merit-Based Scholarships: Awarded based on academic, artistic, or athletic achievements. Examples include National Merit Scholarships, athletic scholarships, and awards for creative talents. Need-Based Scholarships: These are given to students based on financial need. For instance, the Pell Grant is a well-known need-based scholarship the federal government offers. Special Interest Scholarships: Target specific groups, such as minorities, women, or students pursuing particular fields of study (e.g., STEM). Examples include the Gates Millennium Scholars Program and the Women in STEM Scholarship. Community and Local Scholarships: Offered by local businesses, organizations, or community groups. These can be easier to apply for and less competitive. Corporate Scholarships: Many companies offer scholarships to children of their employees or students pursuing studies related to their industry.   Applying for Grants Grants are a form of financial aid that does not need to be repaid. They are typically based on financial need and can be obtained from federal, state, or institutional sources. Federal Grants: The most common federal grant is the Pell Grant, awarded based on financial need. Other federal grants include the Supplemental Educational Opportunity Grant (SEOG), TEACH Grant, and Iraq and Afghanistan Service Grant. State Grants: Each state offers grants for residents attending colleges within the state. For example, California offers the Cal Grant, while New York provides the TAP (Tuition Assistance Program). Institutional Grants: Many colleges and universities offer grants based on need, merit, or a combination. These are often included as part of a financial aid package provided by the school.   Scholarship Search Engines and Resources Fastweb: A comprehensive scholarship search platform that matches students with potential scholarships based on their profile. Scholarships.com: Offers an extensive database of scholarships and grants available to students. College Board Scholarship Search: A tool the College Board provides to help students find scholarships and other types of financial aid.