Students and their parents, who are looking toward a college education in the near future, need to look beyond the “sticker price” when identifying best-fit colleges. There are a multitude of opportunities to greatly reduce college costs, even for families who do not qualify for need-based aid.
The average published 2023-24 sticker price for tuition and fees at private four-year institutions is $42,540. At public four-year out-of-state colleges and universities, it is $29,150, and at public four-year in-state schools it is $11,260. These statistics are reported in College Board’s “Trends in College Pricing and Student Aid,” and do not include room and board, which can more than double the cost of tuition at some institutions.
Merit scholarships can greatly reduce these costs, allowing students to attend their dream school without incurring life-altering debt. For some students, their hobby or talent is the key to success. More than $3.6 billion in athletic scholarships are awarded each year to more than 180,000 student athletes, according to the NCAA. Other students receive merit scholarships for their talents in music, dance, community service, golf caddying, chess playing, video gaming, and even bird watching. The best way for students to access these funds is to make a list of all their activities and then search on free scholarship websites for relevant grants.
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Discover.com, for example, offers a free scholarship search database that includes 4 million scholarships that are collectively worth more than $22 billion. It provides information on a wide range of scholarships in fields including aviation, band, business, choir, civil rights, community service, computers, cooking, dance, entrepreneurship, environment, esports, fashion, feminism, film/TV/radio, gardening, health, LGBT rights, literature, mock trial, music composition and performance, journalism, camping, performing arts, photography, playwriting, poetry, politics, robotics, scouting, debate, student government, technology, volunteer fire fighting, and youth ministry.
Another free scholarship-matching database is College Board’s Big Future website. Students complete a profile, and this tool matches them with 6,000 scholarships providing $4 billion per year. Additional sites are Scholarships.com and Scholarships360.org.
As viewers of “Shark Tank” likely know, Scholly is a free app that has helped students gain more than $35 million in scholarship awards since it was launched nine years ago by a Drexel University student.