saving money for college

There is a scholarship (or many scholarships) out there for everyone. Every student has some skill, interest, experience, or characteristic that may make them an attractive candidate for one scholarship or another. And while we often refer to scholarships as “free money,” scholarships don’t actually come for free. It takes work to thoughtfully consider your strengths and research the scholarships that might be most appropriate for you. While the effort that goes into finding and winning scholarships may be akin to a part-time job, we at College Coach want to make your job a little easier. This on-going scholarship series highlights a new scholarship each week. Check out the below, along with the other posts in the series, and you may discover a funding resource that will make covering that college bill a little (or a lot!) easier.

A lot of what we do as College Coach educators is debunking myths about the college finance process. Often parents ask if their student will be at a disadvantage for merit aid if the family has been able to save towards college costs. I am happy to inform families about a new scholarship that rewards families who have chosen to save for college. Washington College leads the way with this new kind of scholarship that will match the amount a family pays towards tuition so long as the source of the funds is a 529 College Savings Plan or a Coverdell Education Savings account.

Scholarship: Saver’s Scholarship

Awarding Organization: Washington College (MD)

Amount: Up to $2,500 at Washington College will be matched towards prior year tuition payments.

Number of Scholarships Awarded: Varies

Eligible Students: Being piloted to students in 2017-2018. Must have made prior tuition payments out of a 529 College Savings Plan or a Coverdell Education Savings Account.

Eligible College(s): Washington College (MD)

How to Apply: Students must pay a portion of tuition out of a college savings account and must complete the FAFSA. There is no other separate application.

Deadline: March 1st

Website: http://www.washcoll.edu/offices/student-financial-aid/scholarships/savers-scholarship/

Best of luck, and please see the awarding organization’s website for full scholarship details and requirements.

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Written by Robyn Stewart
Robyn Stewart is a member of College Coach’s team of college finance experts. Prior to joining College Coach, she worked as a former financial aid officer at College of the Holy Cross.