Ten Things to Check Out About Any Scholarship Program
1. Does the scholarship application clearly state the number of awards, the amount or range of each stipend, and the duration of the stipend? (For example, is it a one-time offer, renewable, etc.?)
2. Does the scholarship application clearly define who evaluates your application, including their qualifications, and the criteria for selection of scholarship recipients? (Criteria such as the significance of GPA, class rank, class year, test scores, merit, need, and citizenship/residency requirements?)
3. Does the scholarship application state how awards can be used? (For example: Will funds be presented to you and your family, paid directly to your college to be credited to your account, or used to reduce existing or future student loans?)
4. Does it list the deadlines for application requests and submissions as well as the time and method for notifying winners?
5. If there are any costs or fees to compete for the scholarship, are they nominal and waivable if financial hardship can be demonstrated?
6. If there are fees included in the scholarship application process, is there also a brief, yet verifiable, description of what the fees are used for?
7. Does the scholarship program supply relevant background information? (Such as the for-profit or not-for-profit structure of the organization, how long the organization has been awarding scholarships, and where you can find additional information about those in charge?)
8. Upon your request, does the scholarship program supply a list of winners from the previous five years? (If the program is new, does it clearly state when and where the list of winners will be posted?)
9. Do you have access to the financial statements from organizations that sponsor the scholarship?