Organizing your finances

It’s far more common for students to receive small awards of a few hundred or a few thousand dollars than to receive a “full ride.” These smaller amounts add up. Students have applied for dozens of scholarships and cobbled together thousands of dollars comprised of smaller awards.

Remember: The more you apply, the easier it gets, and if you apply for a dozen and get one, that’s money in your pocket and less college debt!  

• Always start by making sure you've applied for everything you can through Indiana University (check out IU Scholarships).  Keep in mind that campuses may still have other opportunities that are not run through this system so talk to your local Office of Scholarships to make sure you are not missing something for which you would be eligible.
• Different IU campuses offer different scholarships. Specific departments, majors, and programs may offer scholarships you could be (or become) eligible for. Some scholarships are only available to you once you've completed a certain number of credits on the campus and achieved sophomore, juior or senior class standing. Departments may offer scholarships for excellent performance in a particular class or for overall excellent performance in the major.  
• Ask staff in the Office of Admissions, academic advisors, career coaches, peer coaches, instructors, departmental administrative staff, and other students if they’re aware of any scholarships you could apply for. And keep asking! You never know when someone might have an idea.  

Awards are based on many different criteria.  Financial need and merit are two common factors but there are awards based on an applicant’s background, identities, place of residence, or goals. Examples include single parents, people living in a certain county, people entering a non-traditional field (male nurses, female scientists), people pursuing a particular major or profession, people entering college later in life, and so on. 

You can simultaneously apply broadly by casting a wide net AND tailor your research to identify specific awards for which you are eligible. Here’s a little secret: many scholarships go unawarded because no one applies for them. Even if you aren't quite eligible for a given award, it does not hurt to apply anyway. 

Search broadly:

• Use resources like scholarship search engines and lists to cast a wide net. We've pulled together a suggested list for you here. You can also search on the web but read our tips on protecting your privacy (below) before you do that to ensure you are not the victim of a scam. Usually, if it sounds too good to be true, it's a scam.

Tailor your search:

• Filter for features or characteristics of your own identity and background that make you eligible for additional awards.   
• If you aren't eligible now for a given award, keep looking for ones you are eligible for while thinking about how you can become eligible for others. For example, if your GPA isn't within range of an award, look for ones that don’t have a minimum GPA requirement while you work to raise your GPA. 

• Consider opening a free email account through a reputable provider, separate from your IU and other personal accounts.  
• Share the new email only with non-IU scholarship sources; always use your IU email when applying for IU funding. Avoid using the new email for anything else. Using it each time you request information, register for scholarship sites and search engines, submit an application, and communicate with scholarship sources, increases your privacy and makes your inboxes easier to manage.  
• Be careful. Some “scholarship” sites are just marketing ploys or phishing schemes. Use caution when it comes to sharing your personal information. Try to apply directly from the scholarship source’s own site rather than through a third party site. Personal information should only be required in the source’s application itself. 
• Do not apply for scholarships that ask you to pay a fee or to provide marketing information. 

• Keep a copy of every new essay or open-ended question response you write for an application, along with the question or essay prompt. You'll begin to see patterns in the kinds of questions being asked, and your collection of responses will grow as you respond to different prompts.  
• Save copies of resumes,letters of recommendation, and anything else you submit for each application and name them so you know how they were used. Keep everything in one place and always back everything up on a second secure device or server (a good habit to build for all your college work).  
• As you collect materials, you have a portfolio you can mine for other applications! The more awards you apply for, the more developed your application portfolio becomes. The more developed your portfolio becomes, the easier it is to revise materials from what you’ve already done and use them to quickly apply for additional awards. 

You may need letters of recommendation for some awards. Some will be submitted directly by the recommender; others will require you to collect the letters and submit them yourself. Here are some ways to make gathering letters easier on you and your recommenders: 

• Ask people if they would be willing to write on your behalf and let them know whether this is a one-time request or if you'll be making multiple such requests.
• Think carefully about who you to ask to recommend you--they need to be able to write a strong letter for you. If someone says no, don't be upset; it allows you to find someone else who can write strongly for you. 
• Allow recommenders as much time as possible to write their letter. If you're asking on short notice, you're asking for a favor, especially if it involves more than one application. Don’t let that stop you, but word your request appropriately and strike the right tone.  
• Provide recommenders with the information they need:  deadline for each application; links to scholarship information and instructions for recommenders, if available; how to provide letter; copies of your resume and the essay you have written for the application.
• If your recommenders don't usually write such letters, ask them to avoid mentioning the name of a specific award. This can make it easier on them if you ask them to submit a letter on your behalf for other award applications and it reduces the possibility of errors in subsequent letters.   
• Ask recommenders to keep a copy of the letter if you'll be needing letters for additional applications. If you upload letters, always make sure that it’s okay with the recommender for you to continue using their letter. (If someone says they can no longer be a recommender—a rarity—thank them for their help and move on.)  
• When you get an award whose application included recommendations, send each recommender a thank you email or note. Keep in periodic contact with recommenders who are willing to write future letters or revise previous ones for additional awards. 

• Assemble everything you need for a given application a week or so ahead of time in case there’s a snag that takes time to resolve, like a login issue, upload problem, crashed site, or recommender delay. Don't stress if you have to do something last minute because you just found out about it.  
• Keep a list or spreadsheet with each application, a link to the site, possible award amount, application deadline, date you submitted it, recommender details, if any, and so on.  
• Revise each entry as you hear back. When you get an award (Yay!) add notes about how and when you'll get the money. Contact your financial aid office if you have related questions.  
• Keep all related emails, including confirmations that you’ve received an award and denial emails (use subfolders in your email account to stay organized).