Eval
Evaluate That Scholarship!
There are so many scholarships available, how do you know which ones to apply for? The Scholarship Club has a 10-point system that you can use to evaluate any scholarship opportunity. Make sure you’re putting your effort the best places – evaluate that scholarship! Here are the 10 areas to look at when evaluating a scholarship opportunity. You can go to our Nexo.com site to get a softcopy of the forms we use in the Scholarship Club.
Eligibility or “Fit”
Are you a good candidate for this award? If it’s a national award and anyone who breathes and goes to high school is a candidate, you should rank the award a 3. If it’s an award with specific criteria and you don’t exactly fit but really want to go for it, rank it a 1 or a 2. If it’s a highly specific award and there aren’t all that many people who will fit the eligibility criteria, rank it a 3.
Competition
What does the competitive field look like? National awards with broad eligibility criteria should be ranked 1. Regional or local awards will be proportionally less competitive, based on the number of applicants.
Deadline
This category is a subjective assessment of how the deadline fits into your life. We find that deadlines in September are difficult because it’s the start of the school year. You may find that deadlines around particular holidays are difficultIf the conflict will make it very hard to make the due date, it’s a 1. If it’s generally an easier time of year, rank it a 3. Use 1, 2 or 3 to adjust the ranking according to your personal life schedule.
Preparation
Some scholarships require “the usual stuff”, i.e., application, transcript, essay. That’s pretty standard and should be ranked a 2 or a 3. However, other scholarships can involve a great deal of effort such as the preparation of a project to be accomplished, letters of recommendation, interview, etc.
# of Awards
The more awards given, the better you chance of to winning one of those awards. Use the following system as a way to rank this criterion. 1 for 1-4 award 2 for 5-20 awards 3 for more than 20 awards
$$$ Amount of Award
Although every bit of money helps, it makes sense to focus more attention on $5,000 awards than $500 awards, unless the other criteria suggest a different approach. Use the following ranking system. 1 for up to $300 2 for >300 - $3,000
3 for >$5,000. Use your judgment in situations where the amount varies. Just be sure to apply your criteria consistently.
Renewable
Renewable means that you can win/receive this award again. 0 If it’s not renewable 3 if it is renewable
Auto Renewable
Renewable means that you will automatically receive this award again next year. 0 If it’s not auto-renewable 3 if it is auto - renewable
Portable
Portable refers to where you can use this award. 1 If you can use it at only one school 2 if you can use it at a group of schools (southern California schools, HBCU’s, etc) 3 if you can use this award at any school you choose
Ongoing Eligibility
What are the conditions for receiving this award year after year? 1 If you must play a sport or have a certain major
2 if it is eligibility is based on your GPA 3 if it’s awarded with no criteria (you just have to be in school and breathing)
Priorities
Total the points for each scholarship. Our system ranks the highest priority scholarships by the most points.
22 – 30 points means “A” Priority – Must apply 15-21 points means B” Priority – Should apply if at all possible
6-14 points means “C” Priority – Would like to apply if there’s time, but be sure As and Bs are taken care of first.
You can find handouts and more examples at http://thescholarshipclub.nexo.com/favorites
