As colleges worked feverishly to address the problems with the FAFSA for the class of 2024, high school students in lower grades looked on. Now seniors and juniors, Eduventures checked in with these students to determine what would help them navigate the financial aid process.
Interestingly, most students who plan on applying for financial aid indicated the greatest need for support in an area that is unrelated to the FAFSA fiasco: scholarships.
Figure 1 shows responses from current high school juniors and seniors to the question: “What would help you navigate the financial aid process better?”
Figure 1.
Note: Students were able to make multiple selections, including an option for students to share that they were not planning on applying for financial aid (5% of students). If students shared they were not planning on applying for financial aid, they were unable to select multiple options.
As Figure 1 shows, the allure of scholarships is real. Nearly two thirds of prospective students (63%) shared that they were interested in “Understanding my scholarship options” above all other forms of financial aid assistance. The next most popular choice, “Video explaining how to fill out the FAFSA,” was chosen by less than half of students (39%, a 24-percentage point gap.) And the appeal of scholarships is understandable; scholarships don’t need to be paid back and are often a recognition of a student’s merit, character, skills, or experiences—a win-win.
Beyond students’ idealistic desires for scholarship understanding, there are other factors that contribute to the popularity of this selection: scholarships can be complicated. This complexity takes many forms for prospective students.
For example, in the interest of helping students find legitimate scholarships, many colleges house their own scholarship search tools. While helpful resources, for the student exploring several colleges, it can be a lot. Understanding scholarship awarding criteria creates questions for students of applicability and appropriate fit. Once past the scholarship search phase, students find additional questions and crossroads including:
- Scholarship Support: Scholarship requirements can be radically different. High school students might be stumped on where to turn when seeking scholarship help, whether it’s navigating administrative steps or coaching in how to approach prompts or required materials.
- Scholarship Synthesis: When students receive scholarships, whether external or internal, understanding how the award fits into the overall financial aid offer depends on a college’s procedures. Some might experience scholarship displacement or learn that certain awards can only be applied to specific aspects of their college costs (e.g., tuition or housing). Renewal criteria is another consideration, with some awards being one-time and others having specifications for continued eligibility.
These intricacies feed student interest in support when navigating scholarship options, and student demographics highlight the importance of scholarship support. Figure 2 shows the percentage of students from different segments who chose "Understanding scholarship options" as an area of requested support.
Figure 2.
Across all student segments presented in Figure 2, the request for scholarship support was the most popular survey response. It shows how navigating scholarships is especially true for “Juniors” in high school (67% vs. 63% overall).
Eduventures’ Prospective Student Brand Research also asks students how they anticipate paying for college. Fifty-three percent of students selected need-based scholarships or grants, and 74% selected merit scholarships or grants. When combining students who selected one or both of these options, 83% of prospective students anticipate gift aid supporting their college costs. With prominent proportions of students seeking support navigating scholarships, enrollment teams are left with compelling evidence to develop scholarship support.
But a more subtle finding can be drawn from Figures 1 and 2: the romanticization of scholarships among prospective students. Scholarships are powerful for both colleges and students in the ways they support access and recruitment strategies. However, for many students, scholarships are not a panacea. As gratifying as scholarships may be, opening students up to the other avenues of student aid is important. While less glamorous, per se, grants, loans, and the realities of college costs are just as critical for students interested in financial aid supports.
The Bottom Line
Internal scholarships are critical elements in schools’ enrollment strategies and are frequently emphasized by enrollment teams. This data suggests that teams should evaluate their scholarship promotion methods and support mechanisms for students within the enrollment pipeline. Students are clear about where they would appreciate additional support; below are ideas for how colleges can help provide clarity around scholarship options:
Scholarship Search
- Evaluate the ways scholarships are promoted. How are prospective students supported in navigating your campus’ portals and processes? How can information regarding scholarships be available earlier on in a prospective student’s enrollment trajectory?
- Communicate merit scholarship criteria changes, early and often, to partners. Figure 2 shows how junior students have a piqued interest in scholarship options and demonstrates how students operate on different timelines than higher education. Promoting changes in advance helps students plan and assists your admission allies’ preparation.
Scholarship Support
- Consider transformation opportunities. With the U.S. Department of Education reporting that most students can complete the 2025/2026 FAFSA form in 15 minutes or less, will there be more capacity to focus on scholarship supports at traditional outreach programs like FAFSA workshops and Financial Aid nights? Ensuring scholarship navigation sessions are folded into programming, messaging, and more will help address this student need and draw student attention for promoted events.
Scholarship Synthesis
- Make policies around award stacking clear. This will avoid frustrations that can follow scholarship displacement.
- Convey scholarships are more than a certificate. Beyond applauding scholarships at awards nights, consider the space and support provided to admitted or committed students to clarify their scholarship options and understand what’s been awarded to them.
Check out other cost transparency considerations here.
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