4de1f02b8f8f7d7924bb96a5e23fe2dc - Alternatives for College Funding: Scholarships and Other Options

There are various types of scholarships and alternative college funding available to help students afford a college education. Scholarships do not need to be repaid and are often awarded to students who meet specific criteria, such as earning a certain GPA, enrolling in a specific major, or demonstrating talent in athletics or music.

Types of Scholarships and Alternative College Funding

Academic Awards

These scholarships are based on academic achievement and may be included as part of the overall financial aid package offered by colleges. Students may not even need to apply for academic awards.

College-Specific Awards

Colleges often have scholarship money available to attract potential students. These scholarships may have specific requirements, such as maintaining a certain GPA or pursuing a specific major.

Departmental Awards

Specific academic departments within colleges may offer scholarships to students interested in a particular field of study. Students can inquire about these scholarships by contacting the appropriate department.

Athletic Scholarships

Athletic scholarships require a competitive application process and may require marketing skills from the athlete and their coach.


The military offers college scholarships, such as the ROTC program which can cover full tuition and provide a stipend for books. Military branches also award scholarships in exchange for a tour of duty, so it’s important to consider if this aligns with your goals and if you’re willing to fulfill the terms of the scholarship agreement.

Private Organizations

Private organizations offer various types of alternative college funding options, including scholarships from corporations, religious organizations, unions, local school districts, and civic organizations. These scholarships may support specific work fields, communities, or members of organizations.

  • Corporations may offer scholarships to attract and retain employees, support communities, and encourage entrants into specific lines of work.
  • Religious organizations may award scholarships to help their members afford college.
  • Unions may offer scholarship funds to children of their members.
  • Local school districts may offer scholarships to graduating students.
  • Local civic organizations, such as the Chamber of Commerce, Kiwanis Club, Rotary Club, Lions Club, etc., may have scholarship programs and be great sources for learning about local businesses that offer scholarships.

Talk with a financial wellness expert. Call the FinanceMaster Student Loan Helpline to get started today.



Research Your Options for Alternative College Funding

Check with colleges and local community organizations to explore available scholarships. FinAid is a helpful online tool for researching college scholarships.

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