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Scholarship Matching: Unlocking Financial Aid Opportunities
What is Scholarship Matching?
Scholarship matching is a financial aid strategy where colleges and universities match external scholarships received by students. This means that the institution will contribute an additional amount of money to the student’s financial aid package, up to a certain limit.
Benefits of Scholarship Matching
There are several benefits to scholarship matching, including:
- Increased financial aid: Scholarship matching can significantly increase the amount of financial aid a student receives, making it more affordable to attend college.
- Reduced student debt: By reducing the amount of money students need to borrow, scholarship matching can help them graduate with less debt.
- Improved academic performance: Studies have shown that students who receive financial aid are more likely to succeed in college.
How to Find Scholarship Matching Programs
Not all colleges and universities offer scholarship matching programs. To find out if a particular school offers matching, students should contact the financial aid office.
Eligibility Requirements
Eligibility requirements for scholarship matching programs vary from school to school. However, most programs require students to meet the following criteria:
- Be enrolled full-time
- Have a minimum GPA
- Receive an external scholarship
Matching Limits
Most scholarship matching programs have limits on the amount of money they will match. These limits vary from school to school, but they typically range from $1,000 to $5,000 per year.
Conclusion
Scholarship matching is a valuable financial aid strategy that can help students reduce the cost of college. By understanding the benefits, eligibility requirements, and matching limits of scholarship matching programs, students can maximize their financial aid opportunities.
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