Myth: Applying To Scholarships Is A One-Time Thing

Circle number 1 placed on a blue wooden wall.

Flickr user Ivan Malkin

There are countless scholarships out there and each one has its own unique qualifying criteria and guidelines. Some scholarships offer one-off awards, while others may be recurring, provided that you meet the renewal requirements. However, the one thing in common among all scholarship opportunities is that you are not limited to applying only for your freshman year.

Apply to Scholarships Throughout College

You are going to need financial assistance for every year that you are in college. Instead of using loans as your primary source of financial aid, it makes sense to look for scholarship opportunities instead. After all, why borrow money you have to pay back when you can get free money?

The beauty of scholarships is that you can look for opportunities every year and apply to all of those that you qualify for. Most organizations don’t impose any restrictions on the number of times you can apply—unless you win the award. 

Believing in this particular myth could result in you losing out on easy free money!

Use College Raptor’s free Student Loan Finder to compare lenders and interest rates side by side!

 

Lender Rates (APR) Eligibility
Sallie Mae logo.
1.13% to 11.23%1 Variable
4.25% to 12.59%1 Fixed
Undergraduate and Graduate
VISIT SALLIE MAE
Credibe company logo.
1.04% to 13.19% Variable
3.34% to 14.50% Fixed
Undergraduate and Graduate
VISIT CREDIBLE
Lendkey company logo.
1.49% to 7.64% Variable >800 FICO
3.99% to 7.64% Fixed
Undergraduate and Graduate
VISIT LENDKEY
Ascent company logo.
2.14% to 10.36% Variable
3.61% to 12.00% Fixed
Undergraduate and Graduate
VISIT ASCENT
College Ave company logo.
1.04% to 11.98% Variable
3.34% to 12.99% Fixed
Undergraduate and Graduate
VISIT COLLEGE AVE
3.51% to 6.14% Variable
4.60% to 7.40% Fixed
Undergraduate and Graduate
VISIT ISL
Earnest company logo.
1.05% to 11.44% Variable
3.49% to 12.78% Fixed
Undergraduate and Graduate
VISIT EARNEST
1Variable interest rates start from 4.12% APR to 10.98% APR. We also offer fixed interest rates from 5.74% APR to 11.85% APR. Click here for important information. Terms, conditions, and limitations apply.
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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