Scholarships are a great way to help make your college experiences more affordable. Whether you’re exploring opportunities at Hopkins or considering private scholarships, understanding how scholarships work can empower you to make informed decisions.
Let’s break down the different types of scholarships available and how they fit into your overall financial aid picture.
What Are Scholarships?
Scholarships are financial awards that help cover the cost of college, and the best part is—they don’t have to be repaid! Some are based on financial need, while others recognize academic achievement, leadership, talents, or community involvement. Scholarships may be a one-time gift or renewable based on their individual requirements and may come from the institution or from outside organizations.
Need-Based vs. Merit Scholarships
Understanding the difference between these two types of scholarships can help you identify your best options.
Need-based scholarships are awarded based on your family’s financial situation.
Merit scholarships recognize achievements in academics, leadership, or extracurricular involvement.
Scholarships at Hopkins
At Hopkins, we’re committed to making a world-class education accessible to students from all backgrounds. We meet 100% of demonstrated need through need-based scholarships that don’t need to be paid back. This means if your family demonstrates you can only pay part of college costs, or none at all, Hopkins covers the rest without loans.
Hopkins Need-Based Scholarships: The majority of our financial aid offers are need-based scholarships that come from institutional funding alongside federal and state grants. Applicants are considered for all Hopkins need-based scholarships when they apply for financial aid.
Hopkins Merit Scholarships: While most of our aid is need-based, a select number of merit scholarships are available. All applicants are automatically considered for merit scholarships and do not need to submit a separate application. Applicants will be notified if they’ve received a merit scholarship with their admissions decision.
Private Scholarships and How They Fit Into Your Financial Aid Award
In addition to institutional scholarships, many students receive private scholarships from companies, nonprofit organizations, and community groups. These scholarships can be a great option to cover remaining college costs.
The impact of private scholarships on financial aid offers can vary from institution to institution. For Hopkins students receiving financial aid, private scholarships reduce summer savings and work-study expectations, which can reduce your overall costs.
Because Hopkins meets 100% of demonstrated need, private scholarships exceeding your total summer savings and work-study expectations reduce the Hopkins Need-Based Scholarship dollar-for-dollar. First-year students can receive up to $4,500 in private scholarships before any reductions are made to their Hopkins grant funding. Make sure to let Student Financial Support know if you receive a private scholarship, as it may affect your financial aid offer. Students who do not qualify for need-based financial aid can use the full amount of private scholarship funds to lower their contributions—as long as these funds don’t exceed the cost of attendance.
Where to Find Private Scholarships
There are many ways to discover private scholarships that align with your strengths and interests:
- Scholarship Search Engines: Websites like Fastweb, Scholarships.com, and College Board’s BigFuture provide personalized scholarship matches.
- Local Organizations: Community foundations, local businesses, and service organizations (like Rotary Clubs) often support students in their area.
- Employer Scholarships: Some employers offer scholarships for employees’ children, so it’s worth checking with your family’s workplace(s).
- High School Counselors: Your guidance office can be a great resource for local and national scholarships.
- Industry-Specific Scholarships: Professional associations in fields like STEM, healthcare, or the arts often provide funding for students pursuing those careers.
Scholarships are a valuable way to support your education, and there are many opportunities to explore.
We’re here to help! If you have any questions about financial aid at Hopkins, connect with Student Financial Support. You can also estimate your college costs using our estimator tools and explore payment options that are right for your family.
