Whether you're a high school senior or a parent, figuring out how to finance a college education is majorly stressful.
The average cost of in-state tuition and fees at a public university was $11,610 for the 2024-25 academic year, according to the College Board. Thankfully, thanks to financial aid, grants and scholarships, the average student is only spending $2,480 a year.
Scholarships are essential for millions of students, but finding out which you qualify for can seem like an ordeal of its own.
Close to $100 million in scholarship funds go unawarded each year and more than $2 billion in student grants. A common misconception is that scholarships are only available for those with exceptional grades or abilities.
"There are lots of different scholarships out there and lots of different types of scholarships," Jefferson Pestronk, executive director of the Modern States Education Alliance, told CNBC Select. "You've got to put in the legwork to find the ones that match who you are," Pestronk says.
College scholarship websites
Going Merry
Going Merry, now owned by student loan lender Earnest, was first created by Raymond Murthi and Charlie Maynard. Ray saw a gap in the market when helping his girlfriend apply for scholarships for her master's program. Charlie faced similar issues during his undergraduate and master's programs. Together, they were inspired to create an online service that not only aggregates scholarships but also allows users to apply for them directly through the website.
Rather than fill out multiple scholarship forms, high school students can set up a profile by entering some basic information about themselves. Once they've established a profile, they can apply for multiple scholarships through Going Merry. Users can alter the info for each application and may be required to answer different questions depending on the application.
Going Merry will use the information in your profile to recommend scholarships. Users can also use the search function to filter scholarships by categories like number of recipients, the deadline and competitiveness.
Actual rate and available repayment terms will vary based on your financial profile. Our lowest rates are only available for the most credit qualified existing cosigned loan borrowers who receive the 0.25% Loyalty discount and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
Residents of Hawaii must request a loan of at least $1,501.
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
To be eligible for the Loyalty Discount, applicants must have previously obtained an Earnest Private Student Loan and apply using the same email address associated with that loan. Only one Loyalty Discount may be applied per eligible Earnest Private Student Loan. Not all applicants may qualify. This offer cannot be combined with Earnest's Rate Match program. Earnest may modify or discontinue this offer at any time and without notice, however, once a Loyalty Discount is earned, it will not be taken away.
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you've made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest's discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
Fastweb
Fastweb (Financial Aid Search Through the Web) claims to be the first scholarship search website. Founded in 1995 by Canadian entrepreneur Larry Organ, it has over 1.5 million scholarship opportunities listed. Its team of researchers decides which scholarship opportunities are posted and makes sure that none are scams. None of the scholarship applications have fees and none require you to enter personal information.
Students can set up a profile, and Fastweb will recommend scholarships based on the information provided. There's also a database of scholarships organized by student type, whether you're Black, bilingual, a veteran, etc.
Whenever you apply for a scholarship via FastWeb, you'll be redirected to the specific scholarship website where you can apply. Unlike Going Merry, you'll have to go through the hassle of entering the same information multiple times to apply for different scholarships.
Appily
Appily (formerly Cappex) is a website that matches students up with potential scholarships and also helps them discover and learn about different colleges.
Appily, like Fastweb and Going Merry, recommends colleges for students to apply to based on their profile. It also has a comprehensive database of colleges with information about the average net price of a college, acceptance rate, application deadlines and post-grad statistics to help you choose which college is a good fit.
The website makes a point to educate students about the college process. It has quizzes that help students understand what college majors they might be interested in and explainer articles about specific majors.
For example, the article about social work majors details what type of coursework you might take in college and info on entry-level salaries.
The scholarship search function allows students to search by different factors like ethnicity, first-generation status and the reward amount.
The Fair Opportunity Project
The Fair Opportunity Project was founded in 2016, by Harvard students Luke Heine and Cole Scanlon. They started the organization to help high school students of all socioeconomic backgrounds gain access to college application resources.
The Fair Opportunity Project works a little differently than the other sites, as it doesn't match students to scholarships. Instead, it offers a comprehensive guide for high school students that includes information about letters of recommendation, how to compile a college list and examples of college essays that worked.
The Fair Opportunity Project also offers a mentorship program free to students from underserved and underrepresented communities in the United States. Mentors are volunteers who are either current college students or recent college graduates. Students can meet with an advisor for about an hour at a time to get help with college applications, the financial aid process, writing and editing essays and completing the Free Application for Federal Student Aid (FAFSA).
Mos
Mos is set up like a dating app, but for scholarships. Students can download the app for free and create a profile by taking short quizzes that ask questions about things like desired majors, GPAs, interests and background. The app then matches students with scholarships that align with their profiles and students can swipe right to save their favorites.
The app provides a summary for each scholarship, including how long the application should take, as well as a brief list of requirements, such as whether it requires an essay. What Mos doesn't do is automatically apply for scholarships on your behalf — it's just a matching tool designed to make finding scholarships easier.
According to its website, Mos' database has $160 billion in financial aid, some of which is exclusive to the app. Students interested in more personalized support can opt for Mos Premium membership ($9.99 per month or $49.99 per year) to get access to a financial aid advisor who can help with things like filling out scholarship applications, reviewing aid offers and drafting tuition negotiation letters [the website only includes a quick mention to a premium membership in the terms and conditions but describes users getting a personal advisor on the home page. not sure if the premium membership still exists].
Scholly
Scholly, now owned by student loan lender Sallie Mae®*, is another free mobile app that matches students with scholarships based on their interests, background and accomplishments. Founder Christopher Gray won $1.3 million in college scholarships and realized how time-consuming the scholarship hunt could be, so he started Scholly to make the process easier.
Sallie Mae Student Loan
APR
From 2.08% to 17.49% APR (fixed) and 3.75% to 16.95% APR (variable). Rates are based on creditworthiness, with lower rates requiring a cosigner and immediate repayment. Other rates and loan types are available. Visit Sallie Mae's website for full details. *Information advertised valid as of 9/15/2026.
Loan types
Undergraduate, graduate, Master's, PhD, MBA, law school, medical school, health professions, dental school, medical and dental residency loans, bar study loans.
Loan amounts
$1,000 up to 100% of the cost of attendance
Loan terms
5 to 15 years
Borrower protections
Deferment and forbearance options available
Co-signer required?
Only for international students and DACA recipients
Offer student loan refinancing?
No
Terms apply.
Read CNBC Select's Sallie Mae student loan review.
Students have used the platform to earn over $100 million in scholarships, according to its website [couldn't find on website but found here. Seems to be from 2021]. The platform has also provided access to exclusive scholarships from major companies like Amazon and Google.
Users share information about their interests and qualifications, and Scholly provides them with a tailored list of relevant scholarships to consider. Thousands of scholarships are added to its database every month so even long-time users can find new scholarships easily.
Other ways to save for college
Between high tuition costs, housing, food and supplies, a degree's sticker price may seem scary. Pestronk recommends finding someone who has been through the college application and financial aid process before to help you better understand your options and plan ahead.
Students often forget they don't necessarily have to be at an expensive institution for four years to get a bachelor's degree. Students can get college credit through approved classes or college-level examination programs, which can allow students to start their college careers even a year ahead of schedule.
"That 25% is going to make the difference for a lot of students who otherwise can't afford it," Pestronk says.
He also highlights College Promise, a non-profit organization that provides "last dollar scholarships" to students who already qualify for financial aid and grants. College Promise programs, which are available in certain geographic areas across the country, then cover the remainder of the student's out-of-pocket costs to allow that student to attend college without cost.
Pestronk recommends that students use tools that estimate how much attending a certain college will cost them and how that translates into loan debt. If you're looking for a private student loan, CNBC Select named College Ave as a top low-interest student loan lender thanks to its competitive interest rates, as well as no application, origination or prepayment fees. Eligible borrowers also receive hardship protections like deferment, forbearance and grace period options.
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term
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Meet our experts
At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed Jefferson Pestronk, the director of the Modern States Education Alliance, a philanthropy dedicated to making college more affordable and accessible. He has nearly two decades of experience working in education.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every college scholarship guide is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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Information advertised valid as of 11/25/2025. *
