Pixabay user EliasRiva
Don’t know something? Ask! It’s always important to seek clarification to confirm or clear up confusion. This rings especially true when dealing with financial aid and your future college education. So if you have questions surrounding a scholarship, best ask the provider themselves!
Here are a few things you should definitely clarify:
How much is the scholarship worth?
More than likely, this is information you discovered at the very beginning of the application process. But believe it or not, some scholarships don’t broadcast how much their worth on their website, so if you do end up earning the scholarship, it’s best to find out just how much you’ve earned towards your education.
What can I use the money for?
Again, some scholarships will display this information from the get-go. Providers might have a very specific vision for who can earn the scholarship and what they can use it for. Most will cite tuition as their required use, but others might allow students to use it for room and board, books, living expenses, or something related. If the scholarship’s website doesn’t specify, ask.
When can I utilize my scholarship?
Does it go into effect your freshman year? Next fall? Immediately? It’s good to know when you can access the funds you’ve earned.
Is this scholarship renewable?
A lot of scholarships are “one and done”, meaning once you’ve earned the money, that’s it. Some, however, are renewable, and can give you funds for multiple years. Check with your provider to see if that’s the case, and if you need to re-submit your application every year of if you’re already set.
Use College Raptor to discover personalized college matches, cost estimates, acceptance odds, and potential financial aid for schools around the US–for FREE!
| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.50%-16.12%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
5.54% - 15.70% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.63% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.66% - 14.72% Variable
3.69% - 14.56% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 16.85% Variable
3.69% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
