Scholarship Overview

Financial Scholarship Overview

Begin your funding quest with scholarships. 

Why scholarships? 
The bulk of financial aid comes in the form of Federal student loans, which needs to be repaid over a period of time. Scholarships, like grants and awards, do not need to be repaid. Scholarships can be a great resource to help pay for the cost of college each year. Although scholarship searching can be challenging for most families the payoff is tremendous. Having a plan, being organized, and knowing how to search will help you be more successful.

How do I search for scholarships?
Becoming informed on how to efficiently search for scholarships is easy to do with The AAA Student Lending Program. The Program offers a short 12-minute podcast focused strictly on scholarship searching. Additionally, families can choose to attend a 60-minute webinar or seminar which will teach them how to prepare, organize, and search for scholarships with ease.

Will a scholarship affect other aid options? 
Every College will have their own scholarship policy regarding the treatment of outside scholarships. Contact the Financial Aid Office of each college you are considering and request a copy of their official scholarship policy. Most colleges encourage scholarship searching and will scale back loans before grants or awards in your financial aid package.

How much time should I allow for searching for scholarships? 

Scholarship searching should be started at least 12 months prior to needing the funds. However there are many college scholarships available to students as young as 5 years old! The earlier you start the more time you will have to secure scholarships. Nevertheless, it is never too late to start searching for scholarships to help pay for college costs.

How can I avoid scholarship scams? 

The Federal Trade Commission (FTC) warns students to be careful in using scholarship search companies. While some firms are legitimate, other are not. A tip-off could be the firm "guarantees" or "promises" scholarships or grants. No reputable firm can legitimately make such a claim. The following claims are telltale statements:

  • "This scholarship is guaranteed or your money back."
  • "You can't get this information anywhere else."
  • "We'll need your credit card or bank account number to hold this scholarship."
  • "There's a fee to apply for this scholarship."
  • "You have been selected by a national foundation to receive a scholarship."

For more information, visit the FTC's scholarship scam site at or call toll-free 1-877-382-4357

Scholarship Resources

Scholarship Podcast

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 Scholarship 101 Webinars & Seminars

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Loans and the AAA Student Lending Program offered through AAA Northeast Bank. Rates and terms are subject to change or termination without notice. All loans are subject to satisfactory credit approval and Federal government eligibility requirements. Other loans and terms available. You may qualify for Federal student loans. We encourage students to exhaust Federal student loan options before applying for a Private student loan, as Federal loans are often less expensive and offer the widest variety of repayment options.