Finding Free Money for College

With the cost of college rising, you and your parents may wonder how your tuition bills will be paid. Happily, a mix of savings, student loans, and free money – yes, FREE money – can help to make college affordable.

define 'free money'
Scholarships are funds you do not have to pay back. They are offered by governments, individuals, companies, high schools, colleges, religious groups, professional associations, and community organizations.

Grants, like scholarships, don't need to be repaid. They are available through the federal government (Federal Pell Grants) and state agencies. Most grants are based on financial need. However, some programs are available for studying certain professions, such as teaching or nursing.

• Stay organized. For each scholarship, make sure you meet the application deadline and supply all required paperwork. Make copies of everything for yourself.
• Be truthful. Be careful not to stretch your grades, skills, or qualifications. Instead, focus on scholarships that you are a good candidate for.
• Read instructions closely. You might have to write an essay for some scholarships. Others may need recommendation letters from teachers. Proof everything before you send it in.

apply for one of our scholarships
As part of our commitment to higher education, DCU offers an Annual Memorial Scholarship Program to DCU members in their senior year of high school who plan to attend a state or nationally accredited college or university in the fall.* We award five scholarships worth $2,500 and 15 $1,000 scholarships for a total of $27,500. To learn more about our scholarship program or to apply, stop by a DCU branch, send an email to dcu@dcu.org, or call 508.263.6700 or 800.328.8797.

Scholarships are awarded on academic merit, teachers' references, an original essay, awards and recognition, and extracurricular and community service activities. Applications are due by March 13, 2009. An impartial panel of college educators will judge the participants' entries, and scholarship winners will be notified in May.

If you and your parents are looking for financial aid to help pay for your college years, DCU may be able to help with a low-rate student loan. Come in and see us today.

* All DCU employees, volunteers, and their immediate families are ineligible.