The more money you can get in grants and scholarships, the less you’ll need to borrow. And it’s money that you don’t have to repay.

Money awarded to a student from sources such as universities, nonprofit organizations, corporations, and private individuals. Scholarships fall into three main categories: local, national, and school. Scholarship money does not have to be repaid.

Common types
There are thousands of different scholarships, and they vary in terms of how to apply, how much money they’re worth, and who they’re awarded to. For example, you may be chosen based on your overall academic achievement, the subject you plan to study, or talents you have, such as music or sports.

How to learn more
For local scholarships, ask your high school guidance office; check with your local newspaper, community organizations, and your parents’/guardians’ employer. For school scholarships, ask your college admissions counselor. For national scholarships, do Web research.

Note: You can apply for some school scholarships as an incoming student. These scholarships are often renewed each year you attend the school. Ask your college admissions counselor.

Click the Next button for information about the Federal Work-Study program.