When it comes to paying for college, scholarships and grants are a huge piece of the puzzle: nearly 60% of families used scholarships to cover part of the cost, and just under 50% used grant money. Grants and scholarships are absolutely vital—but they aren’t always doing as much good as they could.
On a federal level, Pell Grants have long provided a source of hope for students from low-income families striving to pay for college. But the purchasing power of the grant has stagnated, covering just 29% of the cost at an average public institution.
In the world of private scholarships, the story is too often the same. First generation students and students of color are about 1/3 less likely to receive scholarships, and students in the top income quartile receive more than twice as much private aid as those in the bottom quartile.
Scholarships and grants can do a world of good for the students who need them most. But it’s up to scholarship providers and supporters to expand the reach of this valuable financial aid. Here are four ways we believe we can help make that happen.
Student Survey: Money Concerns Top-of-Mind
Scholarship America recently conducted our annual survey of the nation's college students, and, like many of us, they are facing financial concerns compounded by COVID.
Most notably, over 70% of students say the pandemic has negatively impacted their ability to earn money and pay for college (including 40% who say the impact has been drastic).
With nearly 2/3 of respondents saying they plan to make up the gap by applying for more grants and scholarships, our work is more vital than ever—and needs your support. Follow Scholarship America on Twitter and LinkedIn for more on this survey in the coming weeks!
After 20 Years, Families of Freedom Needs You
Next month, we will commemorate the 20th anniversary of the 9/11 attacks on the United States—a date we will never forget. Since that day, Scholarship America has committed to helping those hit hardest, including the dependents whose parents died or were permanently disabled in the attacks and during the valiant rescue efforts.
The Families of Freedom Scholarship Fund supports the future dreams of those young people, providing financial assistance for every eligible student to go to college. After two decades, Families of Freedom has provided more than $178 million, but we still have more than 3,000 students left to help before the Fund sunsets in 2030.
Both new and longtime donors have joined forces to support the Fund on its 20th anniversary, and we hope you can join us. You can donate today at familiesoffreedom.org/donate, or explore other upcoming fundraising and remembrance opportunities—including the 9.11 Mile Memorial Challenge, presented by Medal Dash.
This virtual 9.11-mile run is an opportunity to help out the Fund while you keep in shape. $10 from every registration fee goes to support Families of Freedom, and over $50,000 has been raised so far! All registrants who complete the virtual run by the end of September receive a finishers' medal and official race bib, and you can also select from a variety of official performance gear when you sign up.
Visit 911.medaldash.com to learn more and sign up, and use promo code fof20 for $5 off the registration price! Entries are 70% sold out, so don't miss out!
Meet Our Dream Award Scholars—And Spread the Word!
On our blog, we're celebrating our Dream Award Scholars Class of 2021, starting with profiles of these amazing students!
Cameron Giraud, biology/environmental science student at Central Florida
Liselle Diaz, marketing student at the University of St. Thomas
We are also accepting applications now for the 2022-23 Dream Award. If you know college students who have overcome adversity to follow their dreams—or if you are one yourself—learn more and spread the word here!
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