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The Best Scholarships to Apply For

By the OnlineU team | Updated 10/10/2023

Our Guide to Scholarships provides students with a comprehensive look at applying for college scholarships, and now we’re sharing a few of the top scholarships to apply for in hopes of reducing the cost of college

Among the thousands of scholarships available through different providers, there are several big college scholarships to consider as you apply to colleges. Among the list of companies and organizations offering some of the top scholarship programs for college students are Coca-Cola, Taco Bell, Elks Foundation, Jack Kent Cooke Foundation, and the Fulbright Scholars Program. 

While not an exclusive list of college scholarships to consider applying for, the list below offers a look at ten of the best college scholarships.

By the OnlineU team | Updated 10/10/2023

Our Guide to Scholarships provides students with a comprehensive look at applying for college scholarships, and now we’re sharing a few of the top scholarships to apply for in hopes of reducing the cost of college

Among the thousands of scholarships available through different providers, there are several big college scholarships to consider as you apply to colleges. Among the list of companies and organizations offering some of the top scholarship programs for college students are Coca-Cola, Taco Bell, Elks Foundation, Jack Kent Cooke Foundation, and the Fulbright Scholars Program. 

While not an exclusive list of college scholarships to consider applying for, the list below offers a look at ten of the best college scholarships.

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The Best College Scholarships

Going to college with one or more scholarships can significantly reduce college costs. Whether you are preparing to apply for college scholarships or close to wrapping up the application process, consider our list of some of the top college scholarships. 

Taco Bell Foundation, Live Mas Scholarship

The Liv Mas Scholarship Program, sponsored by the Taco Bell Foundation, provides scholarship funding to international college students. Instead of a need-based or merit-based scholarship program, Taco Bell Foundation's Liv Mas Scholarship Program is for students who have demonstrated a commitment to positively impacting their communities. 

Award Information: 

  • Number of Scholarships Awarded: Varies
  • Amount of Individual Scholarships: Varies

Eligibility Requirements:

  • Legal U.S. resident between 16-26 years old
  • High school seniors planning to graduate or current college students attending an accredited U.S college or university
  • Have not received a prior Live Mas Scholarship
  • Answer questions about education and passion in a video up to two minutes long

Dr. Pepper Tuition Giveaway

Through the Dr. Pepper Tuition Giveaway program, selected applicants are provided with an opportunity to compete in a football passing contest with a fellow program finalist. During halftime at one of five college football conference championship games, two participants go head-to-head to earn a $100,000 college scholarship.

Award Information: 

  • Number of Scholarships Awarded: 10 
  • Amount of Individual Scholarships: $10,000 and $100,000

Eligibility Requirements:

  • Between 16-24 years old
  • Create a 15-60 second TikTok video about career goals and how receiving a scholarship would make a positive impact on career aspirations and society in general
  • Have not been an active or past college student athlete 
  • Have never played professional or semi-professional football 

Burger King Foundation

The Burger King Foundation provides scholarships to high school seniors planning to attend college or post-secondary vocational/technical schools. Scholarship eligibility is based on academic merit, work experience, and participation in extracurricular events.

Award Information: 

  • Number of Scholarships Awarded: 4,000
  • Amount of Individual Scholarships: $1,000-$50,000

Eligibility Requirements:

  • High school seniors planning to graduate
  • Cumulative GPA of at least 2.0 on a 4-point scale 
  • Resident of U.S., Guam, or Puerto Rico

Elks National Foundation Most Valuable Student Scholarship Program

Each year, the Elks National Foundation awards a total of 500 scholarship awards through the Most Valuable Student Scholarship Program. In 2022, the foundation awarded over $2.4 million in four-year scholarships to students attending four-year colleges and universities. Importantly, Elk Club membership is not required to apply.

Award Information:

  • Number of Scholarships Awarded: 500
  • Amount of Individual Scholarships: $1,000-$12,500 per year 

Eligibility Requirements:

  • High school seniors planning to graduate
  • Planning to attend an accredited U.S. college or university

Fulbright Scholar Program

The Fulbright Scholar Program grants over 800 scholarship awards to students from more than 135 countries. The program provides scholarships to help U.S. college and university administrators, faculty, and professional students teach, conduct research, and complete professional projects. Awardees receive scholarships to cover costs of living and travel for themselves and their dependents.

Award Information:

  • Number of Scholarships Awarded: +800
  • Amount of Individual Scholarships: Varies

Eligibility Requirements:

  • Have not lived abroad for more than 5 of the past 6 years
  • Have not been an employee or immediate family member of individuals employed at the U.S. Department of State, U.S. Agency for International Development, or public/private contractors working for the U.S. Department of State — except in the case of a year passing after a termination 

National Merit Scholarship

Each year, more than 1.5 million high school students apply for the National Merit Scholarship Program. From the initial application pool, 50,000 applicants with the highest percentile PSAT/NMSQT scores earn qualification as commended students or semi-finalists. Ultimately some 7,250 applicants earn these merit scholarship awards.

Award Information:

  • Number of Scholarships Awarded: 7,250
  • Amount of Individual Scholarships: $1,000-$10,000

Eligibility Requirements:

  • Take the Preliminary SAT or National Merit Scholarship Qualifying Test in October of junior year in high school
  • High school seniors planning to graduate
  • Involvement in student activities and leadership opportunities

Hispanic Scholarship Fund

The Hispanic Scholarship Fund awards scholarships each year as part of its Hispanic Scholarship Fund Scholar Program. In addition to monetary support, awardees receive a robust mix of support services — such as career services, leadership development, and mentorship programs, among other features.

Award Information:

  • Number of Scholarships Awarded: 10,000
  • Amount of Individual Scholarships:  $500-$5,000 per year

Eligibility Requirements:

  • Hispanic heritage U.S. resident, permanent legal resident, or DACA student
  • Submit FAFSA or state financial aid application
  • Minimum cumulative high school GPA of at least 2.0 or graduate GPA above 2.5
  • Planning to attend an accredited, four-year institution in the U.S.

Jack Kent Cooke Foundation

The Jack Kent Cooke Foundation College Scholarship Program offers need-based scholarships to students attending an accredited, four-year college or university in the U.S. In addition, students receiving a scholarship through the Cookie College Scholarship Program must attend one of the foundation’s Scholars Weekend events in Washington D.C. during the summer prior to college.

Award Information:

  • Number of Scholarships Awarded: Varies
  • Amount of Individual Scholarships: $1,000-$50,000 per year

Eligibility Requirements:

  • Cumulative, unweighted high school GPA of at least 3.5
  • Adjusted gross Income information for the previous three years
  • Submit FAFSA or state financial aid application
  • Planning to attend an accredited, four-year institution in the U.S.

The Coca-Cola Scholars Program Scholarship

The Coca-Cola Scholars Program is a merit-based scholarship program available to high school seniors that have demonstrated strong leadership and a commitment to positively impacting their communities and schools. As of 2022, Coca-Cola has provided over $78 million in funding to over 6,500 college students.

Award Information: 

  • Number of Scholarships Awarded: 150
  • Amount of Individual Scholarships: $20,000

Eligibility Requirements:

  • High school senior planning to graduate 
  • Planning to attend an accredited U.S. college or university
  • Minimum 3.0 Cumulative High School GPA

The Gates Scholarship (TGS)

Awarded to outstanding underrepresented students from low-income areas, The Gates Scholarship provides pell-grant eligible recipients with funding to cover the full cost of attendance at an accredited, four-year college or university in the U.S.

Award Information:

  • Number of Scholarships Awarded: Varies
  • Amount of Individual Scholarships: Varies

Eligibility Requirements:

  • African American, American Indian, Alaska Native, Asian and Pacific Islander American, or Hispanic American ethnicity
  • Cumulative, unweighted high school GPA of at least 3.3
  • Submit FAFSA in order to show pell grant eligibility  
  • Planning to attend an accredited, four-year institution in the U.S.

How Do You Decide Which Scholarships to Apply For?

With the thousands of scholarships students can apply for each year, it can be difficult to decide which scholarships hold the greatest potential returns. Unfortunately, the answer to that question varies from one scholarship applicant to another. 

While there’s no clear and concise way to determine which scholarships an applicant should apply for when searching for scholarships, there are two key factors that can help guide a student in determining which scholarships offer the greatest potential returns: 

  • The first thing to consider is the number of scholarships a particular entity awards. 

  • It’s equally beneficial to know the respective award amounts offered through different scholarship programs. 

For instance, given all else is the same, applying for a $25,000 scholarship awarded to 10 different students may be a better use of your time and energy than applying for a program that only offers three $1,000 scholarships. In the end, it’s all a matter of how much time and energy you have to spend applying for individual scholarships.

How Can You Help Reduce College Costs Beyond Scholarships?

All students should complete the Free Application for Federal Student Aid (FAFSA) and apply for state financial aid through their respective state financial aid department. The FAFSA will determine eligibility for federal grants, work-study, student loans, and other federal aid.

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