Each year, millions of students and families begin planning for college by completing the Free Application for Federal Student Aid (FAFSA®). It’s the gateway to accessing more than $100 billion in grants, scholarships, and other federal financial aid for higher education. Confusion and misconceptions about the FAFSA, however, persist — leading those who need the most support to potentially miss out on critical aid to make college more accessible and affordable. As an education solutions company and responsible private lender, Sallie Mae helps students and families complete the FAFSA, offering a free step-by-step guide as well as free resources to connect them to scholarships.  

Test your knowledge of the FAFSA by taking this quiz.

Paying for college can be a complex, stressful process. Yet, a new study finds students and families may be missing out on scholarships, which can help make college more accessible and affordable. In fact, about one-third of families didn’t take advantage of scholarships to help cover college costs for the 2023-2024 academic year, according to Sallie Mae’s 2024 How America Pays for College report.

In addition, misconceptions about scholarship availability and eligibility persist. More than half of families (52%) believe scholarships are only available for students with exceptional grades or abilities, and families who didn’t apply cited lack of awareness, doubt in winning, and effort required to apply.  

The good news is there are free resources that can help connect students and families to scholarships. Scholarship Search by Sallie easily finds and sorts through hundreds of available scholarships with no registration required.

Don’t Leave Free Money on the Table

Applying for free money is the first step in Sallie Mae’s 1-2-3 approach to paying for college.

Free money, such as scholarships and grants, are often what helps students from historically underserved communities access and complete higher education. Last academic school year, 88% of students attending Historically Black Colleges and Universities (HBCUs) relied on scholarships and grants to pay for college.

To help expand access and completion for more students, Sallie Mae’s Bridging the Dream Scholarship Program helps those from historically underserved communities access and complete college. Since 2021, Sallie Mae has awarded over 900 scholarships worth nearly $4 million in partnership with Thurgood Marshall College Fund (TMCF) through the Bridging the Dream Scholarship programs, which also include the Completing the Dream Scholarship and the Bridging the Dream Scholarship For Graduate Students. These scholarships are part of the company’s continued mission to help students access and complete higher education. 

Connecting students with scholarships and grants before they borrow is critical. However, more clarity around college costs and greater transparency in federal lending programs would go a long way in helping families make informed decisions about higher education financing.

To celebrate National Scholarship Month, Sallie Mae announced the latest recipients of its Bridging the Dream Scholarship for High School Seniors. For the fourth consecutive year, The Sallie Mae Fund has awarded deserving students up to $10,000 each in scholarships to support their higher education goals. This year’s 40 recipients are attending a record number of Historically Black Colleges and Universities (HBCUs)—from Howard University in Washington, D.C. to Morehouse College in Atlanta, Ga.— and are pursuing a diverse range of degrees, including business, engineering, fine arts, humanities, and more.

Since 2021, Sallie Mae has awarded over 900 scholarships worth nearly $4 million in partnership with Thurgood Marshall College Fund through the Bridging the Dream Scholarship programs, which also include the Completing the Dream Scholarship and the Bridging the Dream Scholarship For Graduate Students. These scholarships are part of the company’s continued mission to help students access and complete higher education—especially those from historically underserved communities.

Applying for scholarships is critical in helping students and families responsibly pay for higher education, and an important part of the planning process. In 2024, 88% of students attending HBCUs relied on scholarships and grants to cover the cost of college, according to our How America Pays for College 2024 report. In addition to the Bridging the Dream scholarships, Sallie Mae provides Scholarship Search by Sallie, a free resource that connects students and families to hundreds of scholarships, helping them navigate the process easily with no registration required.

Meet This Year’s Bridging the Dream Scholarship Recipients