What are Institutional Scholarships?
Let’s talk about Institutional College Scholarships
Last post we looked at Private College Scholarships but now let’s take a look at the Institutional Scholarships.
BORING DEFINATION ALERT: An Institutional Scholarship is awarded to students who plan to attend a specific institution and meet scholarship requirements.
Scholarships.com states that most colleges or university offers at least one scholarship award. They are generous. They mostly cover the full cost of tuition….this is where you hear that term FULL RIDE!!! Most of the colleges that have large endowments are the ones at the forefront however we cannot count out the smaller liberal arts colleges.
I always told students to also check into local scholarships at your local Universities or Colleges. It may not be in your “college plan” to stay local but hey if they are willing to give you money towards your tuition then it’s something to think about.
Examples of Institutional Scholarships
There are a bunch of them on there but let’s highlight some of the Institutional College Scholarships that are discussed on Scholarships.com.
- Augustana University Hatterscheidt Scholarship – You can receive $2,000 for this scholarships. It’s for high school seniors who are South Dakota residents, have at least 3.0, and can show financial need.
- Colorado Christian University Dean’s Scholarship – This scholarship is MASSSIVE with an award of $48,000!!! Can you imagine how life changing that can be?? This is awarded to new freshman who meet the academic requirements and of course you have to maintain a certain GPA.
- Colorado Christian University Grant – CCU makes many appearances on this list. I won’t go into everyone but just to show you the opportunity that exists with these “under the radar” schools. I know more and more people to end up choosing this particular school and have nothing but great things to say about their experiences there. This grant is also designed to help students with financial need. A student must apply for federal aid to be considered for this award.
- FSU Freshman Scholarship – Next up is the FSU Freshman Scholarship. GO NOLES BY THE WAY!!! This one is $9,600 and is awarded based on academic merit (combination of grades and test scores). IT’s based on high school grades and test scores so if you feel it’s not important to do well in high school then we may need to think again.
- Furman University Furman Scholars Program – I love researching these as you get to uncover potentials such as this. This program offers $20,000 and it seeks to honor high school juniors who demonstrate leadership potential and show involvement in extracurricular activities and participate in community service. Your high school guidance counselors will nominate the juniors to participate in the program. Those high school guidance counselors are underused in my opinion so make sure you take advantage of them during your high school years.
- Texas A&M University has three listed here:
- Century Scholars Program – $20,000
- Lechner Scholarship – $10,000
- McFadden Scholarship – $10,000
- University of Great Falls Academic Merit Scholarship – I believe this is in Montana!!1 They are offering $8,500. Granted it may not be in everyone’s plan to go that far away from home depending on where you live but again you see there are options.
- Valparaiso University Lutheran Leadership Award – These awards vary and are for Lutheran students who are engaged in leadership roles. You must be nominated by leaders within a Lutheran denomination.
Please make sure you are paying attention to the deadline dates on these. Again as you can see there are a lot (some I didn’t even cover). It’s imperative to do proper research as most won’t take the time to do this let alone submit an application.
Things to Know about Institutional Scholarships
So I like bringing some “Things to know” to the table and per an article in February, 2018 from US News it discusses the 10 Things to Know About Merit Aid Scholarships. So let’s take a look…Not all of these will apply to the institutional scholarships so I will just highlight those.
- Ivy League Universities don’t offer merit aid (i.e. Instructional Scholarships).
- Colleges with large sticker prices offer these scholarships to reduce costs.
- Students will need to maintain a certain GPA.
- The National Merit Scholarship Program offers millions in aid. The organization behind this program offers corporate-sponsored scholarships and college-sponsored merit scholarships.
- There are some full rides for National Merit Scholars – College such as Baylor University provide full tuition academic scholarships. That’s pretty impressive!
- Honors College sometimes offer merit aid. – So at state schools these honors colleges may offer certain perks for registering for class early. This article also mentioned how one Mississippi State student who would have been paying out-of-state was able to get it waved and get half off of in-state tuition due to their ACT score.
- Quite a number of student receive institutional scholarships – So there is data that states that in 2016-2017 1,111 colleges awarded about 14.5 full-time students will institutional scholarships.
- Community organizations may also offer these scholarships
- You don’t need to be at the top of the class to get these scholarships
- Private awards are based on certain data. Again that’s more for private scholarships.
Top Schools by Merit Awards
A site called Road2College also highlights and ranks the top 30 schools by Merit Awards. Just check out some of these Colleges:
- Duke University (Average merit award for Freshmen without need $65,459)
- Trinity University (Average merit award for Freshmen without need $50,350)
- Swarthmore College (Average merit award for Freshmen without need $48,720)
- Davidson College (Average merit award for Freshmen without need $31,207)
- Southern Methodist University (Average merit award for Freshmen without need $23,323)
- Spelman College (Average merit award for Freshmen without need $42,292)
- University of Richmond (Average merit award for Freshmen without need $33,299)
Best Colleges for Institutional Scholarships
A more recent article on money.com also highlight the Best Colleges for Merit Aid with an Average Grant of $22,000 a year!!!
There are several on this list but I wanted to highlight some below.
- Copper Union – I’ve never even heard of this college. It’s in Manhattan and it’s for the advancement of Science and Art. This college offers a HUGE amount of Scholarship Money. It says here that 51% of student receive merit awards. That’s incredible!
- Trinity University – That was in the previous article that we looked at
- Illinois Institute of Technology – 36% of students receive merit awards with an average merit of $24,787.
- Depauw University – Wait did I read that wrong? I know of Depaul. No it’s spelled D-E-P-A-U-W and it’s in Indiana. The average merit award is $20,562.
- Case Western Reserve University – In my wife’s hometown of Cleveland, Ohio. With 33% of students receiving merit award one can get up to $23,582.
So we can see that many are coming from these small liberal arts colleges that most of us haven’t heard of. Goes to show you that it’s important to do research. So there we have it that’s some information on what are Institutional Loans.
Tuition Drop Podcast
You can check out our episode of the Tuition Drop Podcast on Institutional Scholarships below. If you’re on the go and have a few minutes to spare…check it out!