about the author
As the Founder and CEO of CouponFollow, Marc has a passion for helping consumers save time and money while shopping online. He’s been a bargain and deal hunter since the early 2000s.
If youâre a Hispanic, Latino, or Latina student, this is a great time to be going to college.
According to Latino civil rights organization UnidosUS, 1 in 5 college students in the U.S. are now Latino or Latina â and by 2050, Hispanic or Latino students are expected to make up around a third of the total college population.
Unfortunately, Hispanic students are also statistically less likely to be able to pay for college. Almost half of Hispanic Americans are denied or approved for less credit than requested, and are 64% less likely to accumulate savings.
Bearing that in mind, itâs little wonder that twice as many minority students had to cancel or delay their study plans as a result of the COVID-19 pandemic when compared to white students.
But donât despair, because thereâs good news here, too.
If you want to go to college, there are a wide range of federal student aid opportunities, federal grants, loans, and scholarships for Hispanic students. You may even qualify for certain financial aid opportunities if youâre undocumented.
This article will explain how financial aid works, who qualifies for Hispanic scholarships, and resources you can use to find scholarships for Hispanic students.
It doesnât matter where youâre from or what your ethnicity is: college isnât cheap.
For the 2021â22 academic year, private colleges in the U.S. were averaging $38,185 per year for tuition and fees. Thatâs on the more expensive side of the spectrum â but even out-of-state public colleges were averaging $22,698 per year.
Unfortunately, the vast majority of students donât have that kind of money sitting in the bank.
Thatâs why itâs absolutely critical that you understand what financial assistance is and how it works before you head off to school.
Financial aid is funding support offered by the federal government, your state government, your school, charities, or another organization to help you pay for college.
If youâre applying for federal or state financial assistance, the process works the exact same way for both Hispanic and non-Hispanic students.
That being said, there are a few alternative options for undocumented students (weâll cover this shortly).
First, weâll walk you through how to apply for federal student aid as a Hispanic student.
When you hear people talking about financial aid, theyâre normally going to be referencing one of two main financial aid categories: âself-helpâ and âgift aid.â
Self-help financial aid normally takes the form of an interest-subsidized student loan. Itâs important to note that a loan is money that must be repaid over time â although most students are able to secure student loans with really attractive interest rates from the federal government.
By contrast, gift aid is a form of financial aid that you donât have to repay. This normally takes the form of a college scholarship or a grant. Because gift aid doesnât need to be repaid, this is normally the type of aid that youâll want to focus on collecting while youâre preparing to attend college.
But itâs important to remember that gift aid will only take you part of the way. Given how expensive university tuition is, you may not be able to secure enough grants and scholarships to pay for your entire student tuition costs.
Thatâs why self-help student aid is an important way for you to fill in those gaps that family savings, scholarships, or grants just canât cover.
As a Hispanic student, you can apply for both self-help and gift aid financial aid using the Free Application for Federal Student Aid (FAFSA).
If youâre unfamiliar with it, the FAFSA is a common application form that the federal government, most state governments, and a lot of colleges use to decide how much financial aid youâre eligible for.
That makes the FAFSA an incredibly important form to get right â but it also makes your life easier because you can gain access to a wide range of funding opportunities by completing just one application.
The earliest you can submit the FAFSA is October 1 of the academic year before you plan on attending school. If you plan on going to college right after high school, that means you can submit the FAFSA during your senior year.
When you complete and submit your FAFSA, youâll be expected to include information about:
After you send in your FAFSA, the government will look at those numbers and decide how much you and your family can realistically afford to pay to go to school. Then, your college will make you an offer of financial aid.
This offer will likely feature a mix of financial aid forms, including a federal loan, grants, and one or more scholarships. It will all depend on the information youâve included in your FAFSA.
If you apply for financial aid as a Hispanic student, youâll probably be offered one or more student loans as part of the financial aid offer your school makes to you.
Although youâre totally free to play the field and explore private loan options from banks, federal student loans are normally safer because they include a few extra protections you wonât get with a private loan.
Federal loans are overseen by the U.S. government and are commonly referred to as âDirect Loans.â There are four types of Direct Loans available for students:
There are a number of grants offered by charities, businesses, and colleges. But the primary federal government grant students tend to qualify for is the Federal Pell Grant.
Federal Pell Grants are typically reserved for undergraduate students who can demonstrate exceptional financial need.
These grants are designed for students who havenât already earned a college degree â which means you canât get a four-year college degree in English and then try to get a Federal Pell Grant to fund an undergraduate nursing degree a few years later.
Unlike a Direct Loan, Federal Pell Grants donât generally have to be repaid.
The short answer is: no. Undocumented students and Deferred Action for Childhood Arrivals (DACA) students arenât eligible to receive federal funds for going to school.
The long answer is a bit more complicated â because even though undocumented college students donât qualify for federal grants or federal loans, they may still be able to receive other government aid.
As weâve already touched upon, the FAFSA is used by the federal government, your relevant state government, and your chosen college to decide what federal aid youâre eligible to receive.
And although the federal government is unlikely to offer an undocumented or DACA student anything, a state government might look at the exact same FAFSA application and be able to make an offer.
Thatâs why itâs absolutely critical that you complete a FAFSA for each and every year you plan to study at college â even if you think youâre ineligible to receive any aid.
You might be pleasantly surprised.
Simply put, there is no federal legislation that mandates tuition for undocumented students.
Thatâs why states have ended up making their own laws surrounding what type of aid and tuition benefits DACA students or undocumented students are eligible for in-state.
This means your odds of getting state-based aid will vary based on which state you live in and whether your local government views DACA and undocumented students as state residents or not.
For example, states like California, New York, and Florida have all implemented policies that explicitly provide resident tuition and financial aid opportunities for undocumented students. Again, these opportunities would all be offered to students after submitting a FAFSA.
On the flip side, states like Missouri, Indiana, and Ohio have all introduced pretty restrictive guidelines around in-state tuition rates and financial aid opportunities for undocumented and DACA students.
In these states, youâd be a lot less likely to receive any help â although your college may still be able to offer its own grants and scholarships to help you out.
Whether you qualify for federal financial student aid or not, there are tons of fantastic scholarship opportunities out there reserved exclusively for Hispanic, Latino, and Latina students.
To help you get started on your scholarship search, letâs break down how to qualify for a Hispanic scholarship, some resources to help you find Hispanic scholarships, and popular Hispanic scholarship programs you may want to check out.
In order to qualify for a Hispanic scholarship, youâll typically need to fulfill a certain number of eligibility requirements.
Each scholarship and financial aid program designed for Hispanic students will normally have its own unique set of eligibility requirements â so youâll need to contact each particular financial aid provider to find out what exactly those eligibility requirements are.
For example, the Hispanic Scholarship Fund (HSF) has a firm set of base requirements that include:
In terms of heritage, the HSF has a specific definition youâll need to meet. To qualify, you must be at least 1/4 Hispanic from a family whose ancestors came from:
Again, thatâs just an example.
But as a point of reference, in order to qualify for a Hispanic scholarship, most schools and organizations will likely require proof of Hispanic heritage. Youâll also need to prove your intention to enroll in a university, a college, or a community college.
As weâve already covered, there is a wide range of scholarships available for Hispanic students. In fact, there are so many scholarships out there that it can often be difficult trying to figure out where to get started looking.
Fortunately, there are a number of resources and Hispanic scholarship databases worth exploring. Letâs explore a few of the biggest and most popular options available to you:
Hispanic Heritage is a nonprofit organization that keeps an up-to-date database of scholarship information for Hispanic students. Unlike many other scholarship databases, this resource includes listings that are available in both English and Spanish.
LULAC National Educational Service Centers is another organization that provides various scholarship programs reserved exclusively for Hispanic students. This database covers scholarships at both the undergraduate and graduate levels.
Fastweb is one of the internetâs biggest scholarship databases. The site lists more than 1.5 million scholarship opportunities â and although Fastweb offers a range of general scholarship listings available to all students, it also advertises scholarships that are available solely for Hispanic students.
The Hispanic Association of Colleges and Universities (HACU) is an organization that offers and promotes numerous different scholarships. HACU also advertises a number of partner funding opportunities for Latino, Latina, and Hispanic students.
The College Assistance Migrant Program (CAMP) is an organization that helps students who are migratory or seasonal farmworkers enrolled as first-year undergraduate students. The program is also available to the children of migratory or seasonal workers.
The National Hispanic Recognition Program (NHRP) is another program that offers various scholarships for students who qualify based on their PSAT/NMSQT scores.
Mexican American Legal Defense and Educational Fund (MALDEF) is an organization that maintains a database of scholarship opportunities designed exclusively for members of the U.S. Hispanic community.
Again, itâs important to note that this is just the tip of the iceberg. Thereâs a huge volume of resources available out there. You just need to take the time to do your research and understand what sort of financial aid opportunities youâre looking for.
If youâre struggling to bridge the financial gap to pay for your education, donât stress. There are plenty of inclusive scholarships available for Hispanic students. A lot of the biggest and most generous college scholarship packages are available and listed on the resources weâve already covered.
But if you need a hand jumpstarting your search, here are a few of the most popular Hispanic scholarships available right now:
QuestBridge is a scholarship program designed to help remove financial obstacles for low-income students. Unlike most scholarship offerings, the QuestBridge program prioritizes undocumented students when trying to match students with financial aid.
Hispanic Scholarship Fund oversees an annual series of merit-based scholarships to students of Hispanic ethnicity. These scholarships are available for high school, community college, undergraduate, and graduate school students based on academic achievement.
Like the QuestBridge Program, HSF scholarships are available to DACA recipients.
California Dream Act is a program designed primarily to assist undocumented and non-resident students. To be eligible, Hispanic students must attend an eligible higher education institution or university in California. If you do secure a scholarship award, itâs critical to remember youâll have to reapply every year.
Golden Door Scholars is a scholarship program that supports DACA and eligible non-resident students. To apply, you must demonstrate academic excellence, community engagement, and leadership experience.
TheDream.US is another scholarship opportunity for Hispanic students. Itâs designed to support DACA recipients and undocumented students that exhibit financial need.
These scholarships should serve as a jumping-off point for Hispanic students in need of financial aid. But remember, there are many different options designed for students from all walks of life.
If youâre a Hispanic student who wants to go to college, you should never let a lack of resources discourage you from pursuing your dreams.
There are thousands of financial aid options out there â from federal student loans and federal grants to private loans, scholarships, and everything in between.
You might even be able to qualify for a number of financial aid opportunities if youâre undocumented or a DACA student. You just need to do your research, ask questions, and apply.
Want to find out how you can start saving for college now? Check out our Ultimate Saving Guide For High School Seniors Going Into College â and be sure to keep an eye on CouponFollow for specific college coupon codes you can take advantage of.