10 Scholarship Questions Every Parent Asks (Answered)

Parents only want what is best for their children. The same is true when they are researching the college admissions process and figuring out how they can help their students pay for college. While the cost of college may seem overwhelming, you can encourage your child to apply for scholarships. This will not only help to lower the total amount of student loan debt and secure a more stable financial future for them. This guide covers the top 10 frequently asked questions parents ask about scholarships. Here is what you need to know:

1. My child needs help paying for college. How can Fastweb help him/her?

Fastweb is the leading scholarship database for United States students and their parents. Your student will have access to up-to-date scholarships—all vetted by our research team. Fastweb's scholarship-matching algorithm simplifies the scholarship search process. Once a free Fastweb profile has been created, you and/or your child will get email notifications of new scholarship matches and financial aid opportunities. Fastweb also provides helpful articles related to all aspects of financial aid. Including valuable information on the Free Application for Federal Student Aid (FAFSA), student loans, grants, and more.

2. When Should My Child Start Applying for Scholarships?

Your student should begin to create a scholarship application habit in their second year of high school. This is a great opportunity to get ahead of the game and familiarize themselves with the scholarship application process. Students as young as 16 can create a Fastweb profile!

3. Are There Scholarships for Current College Students?

A big misconception is that the scholarship application process ends when a student graduates high school. This is NOT TRUE. There are thousands of scholarships for college students and graduate students, too!

4. Are Small-Dollar Scholarships (Like $500) Worth Applying For?

Applying for $50, $100 and even $500 scholarships are absolutely worth applying for. Every award adds up. According to Educationdata.org, a student attending an in-state, four-year college is “$390 per credit hour” on average. A $500 scholarship could cover the cost of at least one credit hour of college. Scholarships with lower amounts usually have smaller applicant pools. More students apply for a larger valued scholarship making them more competitive.

5. What Types of Scholarships Are Available?

There are a variety of scholarship types. Scholarships provided by a college or university are often labeled institutional scholarships. These can be merit-based and don't take an individual's financial need into account. Merit scholarships are based on a student's academic performance. These are often based on GPA, class rank, test scores, and salutatorian or valedictorian statuses. Athletic scholarships are highly competitive and awarded to students involved in all types of sports. These merit scholarships are often initiated by a student's coach or a college seeking a particular student based on their athletic and academic abilities. Private scholarships have many subcategories of their own. These scholarships could be provided by employers, private companies, community organizations, and more. They may focus on creativity, be essay-based, or even be a scholarship sweepstakes. Private scholarships may include themes such as scholarships for women, STEM scholarships, scholarships for African American students or minority students. Private scholarships can also be based upon unique or weird circumstances, community service, extracurricular activities, and more. Military scholarships can be both private and/or institutionally based. These are not just for students currently serving in the military. If a family member has served in the armed forces, military scholarships also exist for children and spouses of active-duty members or veterans. Visit our National Scholarship Directory to sift through all sorts of scholarship categories.

6. How Often Should My Child Apply for Scholarships?

Your child can apply for scholarships as often as he or she would like. There's no specific timeframe, however, it's best to create a scholarship application goal and stick with it. We recommend setting weekly or monthly scholarship application goals.

7. Where Should My Child Look for Legitimate Scholarships?

Only apply for scholarships from trusted sources. There are scholarship scams you don't want your child to fall victim to. Your student should never have to pay to look for or find scholarships! Fastweb has a team of researchers that investigates each scholarship before it makes it to our database.

8. How Do I Know If My Child Applied for a Scholarship?

It's a great idea to be involved in the scholarship application process as a parent. Just ask! There's no way to know if your child has applied for a particular scholarship. Support your child by following up on the status of scholarships that interests him/her.

9. Who Can I Talk to About Scholarships for My Child?

Discuss your child's college plans with community leaders and organizations. Networking is a great way to uncover scholarship opportunities within your region or local community. Some businesses also offer scholarships for the children of employees, too. If you have a favorite brand or service you use, check their website or emails for scholarship announcements.

10. Do Students Actually Win Scholarships Through Fastweb?

Many students win scholarships via our site! It's up to a student to share the news of their winnings with us. For those students that do reach out to share their good news, we proudly post their stories on our Winners Page.