If it seems counterintuitive to pay money to receive money, it should — at least in the world of college scholarships.
You should never have to open your wallet to find scholarship help. There are boundless free resources on the web, at your school and hopefully in your home.
That said, you might be tempted to pony up a few bucks for some professional advice. Before you do, consider these pros and cons.
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Pro: You can tap into someone’s experience. You can always learn from someone’s expertise. A consultant who has helped students apply for scholarships for years knows the ins and outs of the process.
With that said, you could likely find much of the same information for free online. Beyond the Scholarship Search Insider, websites such as The College Solution and The Scholarship System are run by experts who offer free content and webinars about gift aid.
Jocelyn Paonita Pearson, founder of The Scholarship System, blogs about how she won $126,000 worth of college scholarships, for example.
If you’re looking for the kind of advice that comes from experience, always review a consultant’s free resources first.
Con: Services can be costly. If you’ve considered hiring a financial aid consultant to help with all aspects of paying for college, you already know that professional help can cost hundreds of dollars if you go with some companies.
The cost of a private college prep consultation, including scholarship advice, could run you close to $200 if you use a service such as Scholarship Gold Consulting.
Not all services are that expensive. The Student Success Agency, which matches users with mentors, charges $65 per month, for example.
Still, you’d be wise to ask if you’re receiving your money’s worth.
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Pro: You can rest easier knowing an expert is on the case. It can be stressful applying for scholarships. You might feel like you do when you’re applying to college, competing against students locally and nationally for the same limited opportunities.
Having an expert, or an exclusive resource, at your side may make you feel more comfortable. Still, you could find help for free. Here are four ways to get another set of eyes for your scholarship search.
1. Find family members and friends who have been successful in applying for scholarships in the past and pick their brains.
2. Talk to your guidance counselor and maybe set up a recurring appointment to talk about scholarship strategies.
3. Call the financial aid office at your prospective college to ask for advice and try to be first in line for school scholarships.
4. Check out local nonprofits or large organizations, such as Scholarship America.
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Con: There are no guarantees. The problem with spending money on scholarship help is that you’re not guaranteed value for it.
The popular app Scholly charges $2.99 per month, for example, but it operates like other scholarship search engines, such as Unigo, Fastweb and Scholarships.com, all of which are free.
And Scholly can’t assure you that you’ll win a scholarship or be able to avoid private student loans.
You might see scholarship services or financial aid consultants advertise that they’ve saved their clients money, but they can’t possibly forecast how much you’ll save. It would be in your best interest if you decide to pay for one of these services to insist on a money-back guarantee if possible.
Ultimately, instead of seeking the advice of a scholarship expert, you should become one. While it might require spending more time, you’ll also spend less money.
Exhaust your free options first before paying for scholarship help. Don’t forget to consult your state’s higher education agency for its resources. That will remind you to apply for state grants too.
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What to Know Before Paying for Scholarship Help originally appeared on usnews.com
