October 23, 2017

Low Income

Believe it or not, students that come from rather low income families will actually have a much higher availability for scholarships than those of middle class families.  Several statistics have proven to be true:

The higher income students should have absolutely no problems with paying for college.  The low income students will be in line for scholarships and government grants to pay for college.  It is the middle class students who have neither the money nor the government support who are in the worst case scenario of paying for college.

That is one reason why low income students will actually have a sizable advantage, and that is because more people are willing to give them free money to go to school.

 

Low Income Opportunities

For over 100 years, there has been a great push to get low income kids in college, and that has been advancing through the use of government funding.

In fact, if you are considered a low income student, then you may first want to go straight to the folks at Sallie Mae, who run the college loan financials for the US treasury and education departments, and they will be able to direct you to the proper channels to apply for tuition assistance.

When you get here, just make sure that you are properly filling out the paperwork, and you’re all set.  Paying for college is actually much easier when you have no money in the first place.

 

Foundations and Trusts

One of the most notable foundations for low-income student scholarships is the Bill and Melinda Gates foundation.  This one will require a 3.3 GPA in order to qualify, and it may require you to jump through a few hoops.  However, this foundation is a goldmine once you’re in.  Make sure you hit up the former “richest man in the world” for your tuition money… he may just agree to get you through college.

Virtually every scholarship fund wants to know that you need the money in the first place.  Scholarships are intended for students with no cash to pay for an education.  So, if you are the children multimillionaires or you are one yourself, then there is a pretty good chance that you will be denied scholarship funds, as you don’t need the assistance.  It is the low income families who depend on those funds to get their children an education and a shot at living out their dreams.

 

A Few Listed Opportunities

In conjunction with the United Negro College Fund (UNCF), Abercrombie & Fitch offers a scholarship program to African American students from low income families. The scholarships value is $3,000 and like the Unmet Need Scholarship Program, it is intended to be used as a supplemental scholarship. The scholarship is available to first year students enrolled a four-year university and can be awarded annually for up to four years.

As a part of the Sallie Mae Scholarship Funds, the Unmet Need Scholarship Program is available to low income families with a combined income of less than $30,000. This scholarship ranges from $1,000 to $3,800 and is intended as a supplemental scholarship to fill an “unmet” financial aid need of $1,000 or more. It is available to students who are U.S. citizens, enrolled full-time as an undergraduate at an accredited college or university, and have at least a 2.5 GPA (or a GED average test score of between 42 and 52.).

The American Bar Association offers the Legal Opportunity Scholarship Fund to needy students attending an ABA accredited law school. The award is in the amount of $5,000. Students wishing to apply for this scholarship must report their family income, even if they are viewed as independent students. As with the NMF Need Based Scholarship Program, this helps ensure that the students with the greatest need are awarded the scholarship.