Business & Finance Personal Finance

What Is the Catch With a Free College Scholarship?

    GPA

    • Some scholarships require you maintain a minimum grade point average, which is about 3.0 for public universities and 3.3 at private universities, according The Daily Princetonian website. Scholarships often require a GPA in the range of 2.5 to 3.0.

      That means that you can attend parties in college, but don't party so hard as to neglect your studies. You still need to study to make good grades, go to class and turn in your homework on time. If you do not, your grades will suffer, and you run the risk of losing your scholarship.

    Work

    • Other scholarships require you to sign a contract stating that you will work for a particular employer or in a certain field for a designated length of time after you graduate. This is the case particularly in employer-sponsored tuition reimbursement plans. This is also the situation with scholarships for students who want to earn their teaching certificate through an alternate route after they earn a Bachelor's degree. For example, the Math for America New York City scholarship provides assistance to those who want to become math teachers in secondary public schools. Scholarship recipients agree to work for a few years in a school around New York City while part of the program.

    Recognition

    • You may be asked to attend a banquet or dinner hosted by the scholarship committee in your honor and to thank the scholarship donors in person. This gives the scholarship organization the chance to touch base with you, and for you to express your gratitude for the scholarship. These events can also be a job/internship networking opportunity, so be ready to tell people at the event what you are interested in doing in the future when you go.

    Performance

    • If you have an athletic scholarship, you may be required to play in a certain number of games or perform well while you are an athlete at the college. Arts scholarships may require you to exhibit some of your art to the public in the form of a recital or exhibition.

    Specific

    • Some scholarships can only be used for particular areas of your college education. For example, you cannot use a housing scholarship to pay for your books and fees. Scholarships are often paid directly to your college, so you do not get a cash payment to use how you will.

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