Question 1

How are scholarships different from loans?

Accepted Answer

The main difference is that scholarships are a form of gift aid and do not need to be paid back. Essentially, it’s free money intended to be used for your tuition and other costs associated with pursuing higher education.

In addition, scholarships are typically funded by independent donors, companies, or educational organizations as opposed to banks. These organizations create scholarships to financially support certain demographics or academic majors through university.

Question 2

What scholarships can I apply for?

Accepted Answer

Some scholarships are general scholarships open to all students, such as the Bold Challenge Yourself scholarship. These scholarships have minimal restrictions and many don’t even require essays. No-essay scholarships are great opportunities when you're short on time, but are often the most competitive due to the high volume of applicants. You can find more no-essay scholarship opportunities here.

Question 3

When can I start applying for scholarships?

Accepted Answer

Most scholarships are open to graduating seniors and undergraduate students. There are also scholarships open to juniors, as well as graduate students, and even those who have just graduated and are entering the workforce.

The costs of higher education can be steep but applying as early as your junior year can give you a head start on meeting your financial needs for college. Though most scholarships are targeted towards seniors or undergraduate students, you can apply earlier if you are in good academic standing.

There’s no right or wrong time to find scholarships you’re eligible to apply for, and it’s never too early or too late to apply.

Top Scholarships for Indiana Students