We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.
No Financial Aid Package Yet? Look to Last-Minute Scholarships
You can’t control FAFSA delays, but you can control whether you research and apply for scholarship awards to lower your college costs.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Updated · 4 min read
How is this page expert verified?
NerdWallet's content is fact-checked for accuracy, timeliness and relevance. It undergoes a thorough review process involving writers and editors to ensure the information is as clear and complete as possible.
Eliza Haverstock is NerdWallet's higher education writer, where she covers all aspects of college affordability and student loans. Previously, she reported on billionaires and investing for Forbes in New York, and she also covered private markets for PitchBook in Seattle. Eliza got started at her college newspaper at the University of Virginia and interned for Bloomberg, where she spent a summer writing a feature story about plastic straws. She is based in Washington, D.C.
Cecilia Clark is an editor on the loans team. She specializes in student loans and manages product reviews and roundups. Previously, she worked as a freelance writer and developed communications strategies for cybersecurity firms. Cecilia has also worked in post-secondary education, elevator operations management and sales and military nuclear command control, maintenance management and public affairs.
Published in
Assistant Assigning Editor
Major FAFSA issues have left millions of students waiting on financial aid packages, unsure if they’ll be able to afford college next year. There’s not much you can do to speed up aid offers, but you can increase your odds of affording college by applying to scholarships.
It’s not too late to start your scholarship hunt. With this year’s FAFSA errors and delays, many scholarship providers have extended application deadlines.
“Families can’t control the government side and what's happening within institutions … but they do have control of researching for scholarships that would help them offset higher ed costs,” says James Lewis, president of the National Society of High School Scholars.
Students win roughly $7.4 billion in private scholarships and fellowships each year, according to the National Scholarship Providers Association. However, 39% of students don’t use any scholarships, according to a 2023 report by the private student loan lender Sallie Mae, potentially leaving free money on the table that could lower their college costs.
Here are some expert-approved tips to win last-minute scholarship money and lower your college costs, even if your financial aid offers remain in limbo.
Cast a wide net
Cover the most ground in your scholarship hunt by:
Searching the Labor Department’s Scholarship Finder, which allows you to sort through more than 9,500 scholarships, fellowships, grants and other aid opportunities.
Asking your target schools about scholarships available to their students.
Looking for scholarships offered in your community, in addition to the bigger, well-known scholarships.
Asking your high school guidance counselor to point you in the right direction.
Ideally, you should apply to enough scholarships to get in the running for three times the total amount of aid you’ll need for school, suggests Christopher Gray, founder of the free Sallie Mae-owned scholarship search tool Scholly. Gray says he won more than $1 million in scholarships to pay for his own undergraduate degree. So, if you need $50,000 to pay for school, apply to $150,000 worth of scholarships, and you may win enough of them to get close to your $50,000 goal.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.19-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/30/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Variable APR
4.24-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/30/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.19-16.99%
Lowest rates shown include the auto debit discount. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 6/23/2025. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Variable APR
4.37-16.49%
Lowest rates shown include the auto debit discount. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 6/23/2025. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Some scholarships are extremely specific and can be easier to win if you fit the qualifying criteria. Consider what makes you unique: volunteer work, athletics, jobs, academic interests, religion, family military status and more.
“If there's individual merit that a student has, or passions or things that distinguish them, if they use Google and put ‘scholarships’ plus that term that describes their uniqueness, they'd be surprised how many scholarships are available, and that they can be applied to right now,” Lewis says.
Scholarships that require a lot of work — like a long list of required essays — can also be easier to win, Gray says, because fewer students want to do labor-intensive applications.
Get organized
Staying organized can help you maximize your scholarship award potential. You can use a scholarship tracker or build your own spreadsheet to keep track of deadlines and application requirements.
Treat scholarship applications like college applications, Lewis suggests. Ask someone to proofread your essays, and reach out to teachers or other adults in your life for recommendation letters.
Create an application work schedule. Maybe that involves dedicating a weekend or two to scholarship applications or setting aside a few hours each night to work on them. Start submitting applications as soon as possible because it may take weeks or months before you get a final award decision.
Tell a story
In the era of artificial intelligence, it’s more important than ever to be authentic when you’re writing your scholarship application essays.
And don’t just rehash your resume — focus on one impactful moment and tell that story, Gray says.
Lewis adds: “We all have stories to share about some of the things that we've struggled with and things that we want to overcome and accomplish.”
Write efficiently
Many scholarships include the same or similar essay prompts like asking about your community service or where you see yourself in five years. When possible, tailor your existing essays slightly for each application, rather than starting from scratch each time, Gray advises. This can help you save time and submit the most applications possible.
As a guideline, keep your essays at around 500 words or less, even if the maximum word count is higher, Gray says: “These essay readers are reading a lot of essays, so you really have to make sure that you can get a point across and be able to tell a story and convey your message in a way that's concise.”
Wait to report scholarship awards
Many schools have a “packaging policy,” which outlines how external scholarship awards will impact other financial aid you may receive. In some cases, schools may replace each dollar that it has given you with every scholarship dollar you bring in. This can negate your hard work applying to and winning scholarships.
Contact your college’s financial aid office to understand how exactly the school treats external scholarship awards.
Gray advises students to wait to report external scholarship awards to their college until after they've committed to the school and finalized their financial aid offer. That can minimize the odds that the school will reduce their original financial aid package as a result of scholarship money, he says.
Don’t forget the FAFSA
No matter how much scholarship money you bring in, it’s still essential to submit the FAFSA if you haven’t already. The form unlocks federal financial aid, including federal student loans, grants and work-study programs. Some external scholarship applications require you to submit the FAFSA, too.
The FAFSA will also put you in the running for the need-based Pell Grant, an award of up to $7,395 per year that you don’t repay. Eligibility isn’t tied to income alone, so you could qualify even if you don’t think you will.
