How Your Teen Can Clinch a Merit Based Scholarship

How Your Teen Can Clinch a Merit Based Scholarship

According to MONEY Magazine, 3 Ways to Get More College Merit Aid, the percentage of students receiving merit aid has tripled in the past 20 years. In 2014-15, approximately two-thirds of full-time students paid for college with grants and scholarships. Approximately 57 percent of financial aid dollars awarded to undergraduates was in the form of grants. They tend to be more available at private schools. State schools do not typically offer merit scholarships. According to the MONEY Magazine's List of The 46 Best Colleges for Getting Big Merit Scholarships, only about 9% received scholarships. A few exceptions are making the effort to use merit scholarships to lure more out-of-state students, i.e., Alabama, North Dakota and South Carolina. Colleges that typically have a 20% acceptance rate have only 7% receiving merit aid. At schools where at least a third of their students received merit aid, the average acceptance rate was 61%. Ultimately, it's usually the lesser known schools that offer the most merit grant money....
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How YOUR Teen Could Be Eligible for a Merit Scholarship

It’s a little known secret that four out of five colleges use standardized test scores as a criterion for merit scholarships.  This means that students who score in the top 10 percent of test-takers – around 2000 (out of 2400) on the SAT and 28 (out of 36) on the ACT – can expect to be offered merit scholarships as large as $28,000 a year!  Merit scholarships are also available for students scoring lower but who score beyond the median score requirement of a particular school. (Remember, merit scholarships are NOT based on need and family income – only the academic profile.) If you go to most colleges’ websites, you will notice a “net cost calculator” which lets students see how much they would need to pay out of pocket to attend. A student who has entered his profile and only changes nothing but his ACT or SAT test score can see the scholarship money increase as their scores rise!  SAT...
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