Summer Scholarships

Summer break is closing in! This is the time when many students jump back into their summer jobs to earn a few extra bucks. While a summer job is a great first step to easing the financial responsibility of college, there are also opportunities available all summer long to find scholarship money.

Many scholarships have deadlines from May-August and the awards can be applied to the upcoming school year. The more scholarships a student applies for, the greater their chance of being selected a winner. We suggest that students apply for at least 1-2 scholarships per week. There are plenty of scholarships that only require a simple application and/or a short essay. A little effort can reap great financial benefits, so while you’re catching some rays, pull up your favorite lawn chair, grab an iced tea and check out these fun summer scholarships:

Flavor of the Month Scholarship

“Summer and ice cream go hand-in hand. In fact, July is National Ice Cream Month, and that’s the inspiration behind this award. We think people are very similar to ice cream…so if you were an ice cream flavor, which would you be and why?”

Deadline: July 31, 2020

Amount: $1,500

Check out this scholarship and more!

Solar Action Alliance Scholarship

It’s summertime and the sun is shining. Solar Action Alliance wants to spread the word about the most clean, reliable and abundant source of renewable energy: the sun. They are offering a scholarship to a motivated student who can answer the question: “What excites you most about the future of solar power?” Students must submit their answer in the form of a 500-1000-word essay.

Deadline: July 1, 2020

Amount: $1,000

Check out this scholarship!

Slumber Search Scholarship

Summer is a good time to catch up on sleep. It’s also a good time to apply for scholarships! Slumber Search wants to assist students as they start their entrepreneurial endeavors. To apply, students must create a short video answering the following questions:

“If you were to create a product or business to disrupt a current industry, what would you do and what would it be?”

Deadline: June 30, 2020

Amount: $1,000

Check out this scholarship!

Want to find more scholarships? Check out UCanGo2!

When you’re submitting your scholarship applications, be sure to remember these tips:

  • Check your eligibility: Some (not all) scholarships have age, grade level or GPA requirements. Be sure you are eligible before investing your time in an application.
  • Check the requirements: Do you have all of the documentation required for your scholarship? Do you need letters of recommendation? Be sure to double check that you’re prepared to submit a complete application.
  • Proofread: Verify that your contact information is correct on scholarship applications. Also, make sure you review your essay, if one is required. Represent yourself well with professional and clear writing.

Summer Prep for Incoming College freshmen

Graduating from high school is a huge milestone. Before you finalize your summer plans though, consider adding a few activities to your list. Implementing these tips will help you prepare for your college freshman year as you enjoy a well-deserved summer break.  

Read and review. High school may be over, but the concepts you’ve learned will appear again in upcoming classes. Since college courses typically don’t review previous material, prepare by studying subjects that gave you trouble in high school. Mastering these academic areas can aid in your college success. Reading often will help with future comprehension and critical thinking assignments.

Develop a routine. It’ll take discipline to balance coursework, other responsibilities and time with friends when you begin college. Therefore, develop a summer routine to practice designating specific times for certain activities. While your schedule will probably change when classes start, you’ll gain great time-management skills that’ll assist with meeting new academic expectations.

Gather supplies. Get an early start on back-to-school shopping. Already have your college schedule? Great! Use it as a guide to purchase supplies. Compare prices when buying course textbooks and technology. If you don’t have your schedule yet, consider purchasing the common necessities – notebooks, writing instruments, folders, backpacks, planners, etc.

Connect with others. Use social media to connect with future roommates or other students who will also be attending your campus in the fall. Converse with those who have similar interests. Not only could these connections create lasting friendships, but connecting with others before school starts could make the first few weeks on campus more enjoyable.

Explore careers. Summer is a good time to explore career interests. If you’ve already decided on your college major, research popular jobs in that field of study. Even if you’re undecided, take time to discover which industries pique your curiosity. Researching different professions allows you to see which career field could be a great fit for you. To learn about various occupations and to view over 400 videos detailing possible careers, visit OKcollegestart.org.

Student Loan Grace Period

While searching for ways to pay for college, it can be encouraging for students to discover that federal loans help ensure their ability to fund higher education. Many student loan borrowers have questions about how loans work, different loan types, repayment options, and the grace period. It’s important for them to be well-educated on this process before they enter repayment. Here we will provide information on understanding the grace period.

What is a grace period?

One of the advantages of a federal student loan is the six-month grace period. Borrowers usually aren’t required to make a payment on their loan until six months after they graduate, withdraw from school or drop below half-time enrollment status. The grace period gives borrowers time to find employment and adjust their budgets accordingly.

How does a grace period work?

During a grace period, interest will accrue on Direct Unsubsidized Student Loans, and sometimes subsidized loans (see the ‘Interest’ section of the Master Promissory Note, or MPN). Borrowers are strongly encouraged to make interest payments on their loans while in school and during the grace period, if possible, in order to keep the interest from being capitalized (added to the principal balance of the loan). Be sure to visit ReadySetRepay.org to see how making interest payments while in school and during the grace period can help you Save Money on Student Loans.

Here’s something else you should know. A borrower could possibly have more than one grace period to monitor if they’ve dropped below half-time status at their school for any reason. This scenario could take place if a borrower had loans at one college and then borrowed again when they transferred to another college. Dropping below half-time status at one or both of those schools would change the timing of their grace period, thus starting the six-month timeframe at different intervals. It’s important that student loan borrowers talk to their school’s financial aid office, or their loan provider, to confirm repayment start dates on each of their loans.

More information about successful loan repayment can be found at ReadySetRepay.org.