The average cost at a 4-year college is $26,027 per year or $104,108 over four years. This doesn’t include the additional cost of books, gas or supplies you’ll need at the college either. However, that’s where scholarships come into the picture. Scholarships can help you out by paying off a large amount off the tuition. So why aren’t students applying for scholarships?

Scholarships are financial awards given to students from organizations or educational institutions. Some students however don’t apply because they believe that it’s too time-consuming or they doubt their ability to earn a scholarship.

Another big reason why students hold back from applying for scholarships is because of false information. False information can provide the wrong idea of what requirements are needed to apply for a scholarship. Oftentimes, many people think that scholarships can only be earned by a high academic achiever. However, this is untrue, as long as you participate in your community and do good in school you should be able to earn a scholarship too.

Financial Aid Analyst Nancy Naguib states why she believes scholarships help you out in the long run at college.

“It’s free money and a lot of times the funds may not be given out because not enough students apply. So I just think that, you know, instead of having a part-time job that pays like $15.00 an hour, if someone spends a couple of hours and does an application and submits it, you know they may get a few $1000,” Naguib said.

Additionally, when applying for scholarships there will always be a few requirements before you can actually get the money. However, something important to take into consideration is that each scholarship has different requirements.

Interim Senior Clerk Karen Retana states a few examples of different requirements scholarships may ask for.

“For most scholarships you will need to accept the conditions of your scholarship, write a thank you letter for the generous donor who awarded your scholarship, attend the scholarship ceremony and provide transcripts as needed by the type of scholarship awarded,” Retana said.

Something you might want to consider is if scholarships affect your financial aid. Financial aid is funding that is only available to students attending a post-secondary educational institution in the United States.

Naguib states whether or not scholarships affect your financial aid.

“For example, you’re getting a third party scholarship from someone outside of the college. If they give you the funds directly to you and payable to your name then we are not necessarily going to know about it so it won’t affect your financial aid. But if it goes to Santa Ana College then we get it and we have to add it to your profile showing that you have this much need based on your financial aid information. Then we might not give you financial aid and give it to someone who has more need,” Naguib said.

So in other words, if the scholarship is put under your name then the school doesn’t necessarily know about it. However, if it goes to the school then they’ll know whether you are in need of financial aid or if the scholarships already fulfill your needs. If you aren’t in any more need then they’ll give the financial aid to someone else who needs it more than you. So in a way, scholarships can affect you negatively if it’s given to the school under your name.

Retana states a final motivating message to students who are currently applying for scholarships.

“Always take the opportunities as they come, don’t be afraid to try something new, and don’t hesitate to ask for help,” Retana said.

As a student you are encouraged by your counselors to take advantage of the opportunity to apply for scholarships and possibly earn free money for your future educational goals.