Your Complete Guide to College Scholarships and Grants

Merit-based scholarships are highly competitive scholarships that select students based on merit, rather than financial need. Typically, you need to meet a certain GPA, letter grade, and standardized test score requirement. Scholarship providers consider those with the highest scores and grades the most competitive. They might also consider extracurriculars, volunteer opportunities, and other indicators that you are a high-achieving, well-rounded student.

Some scholarships also require an essay about your school and life experiences, your goals, or who you are as a person.

Need-based scholarships are for those with qualifying financial need and don’t consider your school performance or extracurricular activities.

The most common requirement is to fill out the FAFSA or your state’s equivalent. You’ll also receive a Student Aid Index (SAI), which will indicate how much the federal government expects you to pay for your education.

University need-based scholarships are some of the most common ones, and oftentimes you won’t have to apply for them separately from your college application. For example, colleges like Harvard University, Yale University, the University of California system, and hundreds of others across the country offer free tuition scholarships for qualifying students meeting a certain income threshold/SAI.

Some scholarships are only open to some demographic groups or are preferential to them. Some of the most common demographic scholarships include:

Each scholarship has different eligibility requirements, so check to see which you qualify for.

Athletic scholarships are for students who show impressive performance in a sport. NCAA Division 1 or Division 2 schools, NAIA, and NJCAA schools typically offer full- or partial-ride scholarships to students to play for the school. To learn more about athletic scholarships, visit NCSA College Recruiting.

Some scholarships might be more unique to your extracurriculars or hobbies. For example, if you’re passionate about chess and compete frequently, you may be able to find scholarships specific to your hobby or compete for scholarship money.

The Pell Grant is the federal government’s primary grant program for over six million low- and middle-income college students.

The maximum Pell Grant amount for 2025-2026 was $7,395, while the minimum was $740. Federal Student Aid (FSA) has yet to announce the maximum award for the 2026-27 academic year, although most expect it to remain unchanged.

FSA awards Pell Grants based on financial need. However, students whose parents or guardians died during military service in Iraq or Afghanistan after Sept. 11, 2001, automatically qualify for the maximum Pell Grant.

This grant, available through participating schools, is for undergraduates with exceptional financial need. By completing the FAFSA, you may receive between $100 to $4,000 per year, depending on your need and your school’s available funding. You might get your grant funding through a student account credit or direct deposit.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant provides up to $4,000 per year for undergraduate and graduate students pursuing teaching degrees and who agree to post-graduation work requirements.

To receive the grant, you must agree to teach a high-need subject in a school that serves low-income students for at least four years within eight years of graduation. If you fail to do so, you’ll have to pay the grant back as if it were an unsubsidized federal loan.

States often have their own grants similar to the Pell Grant. However, you may need to apply separately to a state’s financial aid program, like Illinois’ Monetary Award Program. Depending on the school’s free tuition program, you may need to apply for state grant aid as well.

Institutional grants are similar to need-based scholarships. You’ll likely automatically qualify for these need-based grants, or grants specific to the field of study you’re in. If you’re a graduate student, you could receive grants for research and classes for pursuing your specific field.

You can also apply for private grants applicable to the field you’re in, similar to institutional grants. However, these take time and research to apply for. Speak with your advisor about applying for private grants.