From Forbes.com…..
Over the past 10 years, college costs have increased significantly. According to The College Board, the total cost of attendance at a four-year public school grew by approximately 21% between 2010 and 2020, with the average price increasing from $18,160 to $21,950 per year.
Applying for scholarships is an excellent way to pay for college that reduces your out-of-pocket education expenses. And you can apply for multiple scholarships and combine awards, reducing the need for student loans.
If you want to cut down on your college costs, here’s what you need to know about scholarship opportunities and where to go to apply.
What Are Scholarships?
Scholarships and grants are often referred to as “gift aid.” Unlike other forms of financial aid, like student loans, scholarships and grants don’t have to be repaid; they’re a form of free money that you can use to pay for a portion of your college expenses.
By utilizing gift aid, you can save thousands each year. In a recent study sponsored by the private student lender Sallie Mae, researchers found that American families spent on average $30,017 on college during the 2019-20 academic year. Scholarships and grants covered 25% of education costs, or $7,625.
