Scholarships for Hispanics

Hispanic Students Can Get Free Money for College

Oct 22, 2009

There are many educational funding opportunities out there for Latinos. Learn about two organizations that offer money specially for Hispanic students.

In the United States today, the number of Hispanic students seeking scholarships and grants has risen astronomically. Years ago, this type of funding would have been hard to come by; however, in recent years private organizations and even Fortune 500 companies have generously given to young Latinos.

Parents and students should take on the task of finding money for college as early as possible. Parents can start by searching for funding in their own places of work, inquiring within human resources about any money set aside specifically for children of employees. In addition, parents and students should set aside time together to search online. On their own, students can check their school's website or ask their guidance counselor for a list of private grants available for Latinos.

Take a look below at two organizations that generously donate to the Hispanic education cause.

Macy's department stores and The Hispanic Scholarship Fund have teamed up to financially award students of Hispanic heritage. The award is achievement based and the applicant must be an undergraduate at one of the 15 selected universities around the country. A sample of the universities included on the list are New York University, Baruch College, Penn State, Texas A&M and University of Washington.

Macy's and the HSF cites their joint mission as, "to provide financial resources to assist outstanding Latino undergraduate students." The award amount is $5000 per student. To apply, the applicants must be of Hispanic heritage and a US citizen or permanent legal resident. Academically, the student must have a GPA of 3.0 or higher on a 4.0 scale. Lastly, students must be enrolled full-time as a sophomore or junior at their school and have filled out a FAFSA.

In addition, receiving the award also presents future work experience for some. Macy's says, "selected students may have the opportunity to participate in a summer internship with Macy's in the Summer of 2010."

Gates Millennium Scholars Offer Grants for Hispanics

Synonymous with the word "generous" the Bill & Melinda Gates Foundation have been donating money for education and other significant causes for years. Microsoft creator Bill Gates and his wife Melinda have amassed an estimated $35 billion endowment. From the endowment, in 1999 the Gates Millennium Scholars Program was started with a $1 billion grant. The Gates' mission is, "is to promote academic excellence and to provide an opportunity for outstanding minority students with significant financial need to reach their highest potential."

Applicants can be of any minority group, including Hispanic Americans. They must be legal citizens of the US or permanent residents. Academically, their GPAs must be 3.3 or higher on a 4.0 scale. To apply, students must be enrolling in their first year at an accredited university full-time (and be on track for a degree). In accordance with the Gates Foundation's traditions and beliefs, applicants must have demonstrated leadership through extracurricular projects, community service or other activities that would apply. In addition, students must meet financial criteria by being eligible for a Federal Pell Grant.

The amount of each award varies; however, if a student wins, s/he will be eligible to renew the award if satisfactory academic progress is maintained. To address the question of how much a winner will receive exactly, GMS states it will provide "(financial) support for the cost of education by covering unmet need and self-help."

Both Macy's and the Gates Foundation offer substantial amounts of funding for Hispanic students who are college-bound. Latinos can take advantage of the money set aside for them and finance their college dreams.

The copyright of the article Scholarships for Hispanics in College Financial Aid is owned by Jennifer Ciotta. Permission to republish Scholarships for Hispanics in print or online must be granted by the author in writing.