Are BigFuture Scholarships worth it?

Imagine a scholarship opportunity that simply rewards you for completing fundamental college- and career-planning steps as a high school student. Say hello to the BigFuture Scholarship, a program designed to help students offset college costs and encourage university attendance. Administered by the College Board, this financial aid initiative motivates and supports students as they navigate the college admissions process, enrolling eligible participants in a drawing to win tuition assistance of hundreds or even thousands of dollars.

If you’re a high school sophomore or junior preparing for college applications, or are a parent or family member with a college-bound child, exploring options like BigFuture can make a real difference in the final cost of admission. Read on to discover valuable resources and strategies that can ease the financial burden of higher education and open doors to the degree program of your dreams.

What are BigFuture Scholarships?

The College Board, a non-profit organization committed to college and career readiness, distributes millions of dollars in merit aid for college-bound students each year. While the organization may be best known for administering the SAT and AP exams, it also offers several other programs to help students and their families prepare for undergraduate life. One of the most critical concerns that students and families have before pursuing higher education is managing expenses. With tuition costs continuing to rise, scholarships offered by the College Board and similar organizations can help families ease financial burdens, allowing some students to access tens of thousands of dollars in aid.

The BigFuture Scholarship, in particular, is a random drawing open to high school students in any U.S. state or territory who complete a series of career and college planning steps. The official rules for BigFuture detail the process for applications, qualifications, and final awards, but here’s a brief overview:

1. Before completing any tasks, students must create an account on the College Board’s official website (bigfuture.collegeboard.org).
2. Scholarship windows for each class open in December and last for three years. For the class of 2026, scholars opened on December 4, 2023, and will close on February 28, 2026. Students are expected to use their sophomore, junior, and early senior years of high school to complete the necessary tasks.
3. The first task is to begin a career list by saving three or more careers on your profile. This will help you determine the colleges with the best programs for these careers.
4. The second task is to begin a college list. You must save at least three schools during this step.
5. The next assignment is to begin a scholarship list. Here’s where things get interesting: the BigFuture platform actually gives you several opportunities to earn scholarship money. You’ll first select external scholarships from the College Board’s database, which offers opportunities with varying amounts, criteria, and qualifications. Then, you’ll be eligible for the monthly BigFuture drawings of one-time scholarships valued at either $500 or $40,000.
   1. Note: While there’s no application fee to enroll in the BigFuture Scholarship drawing, some third-party scholarships listed on the website may require payment. Always verify each opportunity you apply for on the official website.
6. The next task is to strengthen your previous profile. You’ll refine your college list and categorize schools as “safety”, “match,” and “reach,” adding at least three more schools to your selection.
7. The next step is to complete the Free Application for Federal Student Aid (FAFSA) or present other documentation related to you and your family’s annual earnings and financial situation.
8. The final step is to apply to colleges and update the application status on your profile for at least 2 schools. Students will be notified via email within 15 business days of the end of the qualifying month.
9. Scholarship funds will be issued as a check payable to the college the students plan to attend. You will need to send over your school’s information once you’ve decided where you will be going.

Other important things to know:

• U.S. Citizens or residents who attend U.S. Department of Defense Education Activity schools outside of the U.S. can also apply to the program.
• Lower-income students (those who are eligible to receive an SAT waiver, attend school in a high-poverty area, and/or have a family income of $60,000 or less) will have the chance to enter separate and additional drawings.
• Each task listed above will have different completion windows and due dates, leading to different drawing periods. Each completed task earns one entry into the monthly drawing pool. Not completing the following task effectively takes you out of the competition.
• Students selected for a scholarship must complete a verification process, which may include submitting additional identification documents, proof of submitted college applications, and proof of income.
• You do not need to take the SAT or another College Board assessment to qualify for the competition.

BigFuture Scholarships also assesses need when determining student eligibility, ensuring that awards are distributed equitably. Overall, 90 winners per month will receive $500 scholarships, with an additional 90 winners selected from the lower-income pool. Students are eligible to receive more than one $500 Scholarship. One winner every one to two months will receive the $40,000 prize, with an additional winner selected from entrants in the lower-income bracket. Students can win both a $500 scholarship and a $40,000 scholarship, but cannot win more than one $40,000 scholarship.

Difference between BigFuture Scholarships and the National Merit Scholarship Program

The National Merit Scholarship Program is one of the most prestigious scholarship opportunities available to high-achieving students in the U.S. Through a rigorous selection process managed by the National Merit Scholarship Corporation, this competitive program awards scholarships based on outstanding academic performance, first identified through top scores on the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) (which is administered by the College Board). Each year, among more than 50,000 high scorers nationwide, only a select few thousand exceptional students advance to receive Merit Scholar designations and significant scholarship awards, often $2,500 for the top recipients. Notably, all evaluations and final scholarship selection are overseen by the National Merit Scholarship organization, not the College Board itself.

BigFuture Scholarship winners, in contrast, are picked directly through the College Board and have a very different application process. Students seeking to enter for a chance to win must submit specific materials outlined above, such as a completed college list and a FAFSA form. Eligible students are automatically entered in the National Merit Scholarship Program competition by taking the PSAT, rather than filling out an application.

It is crucial to note that selection for BigFuture Scholarships is not merit-based; recipients are chosen at random from among qualified applicants. However, part of the application process requires exploring scholarship listings in the College Board’s comprehensive scholarship search tool. This platform features an extensive array of scholarships that consider attributes such as GPA, family background, residency, extracurricular involvement, intended major, and individual interests. Be sure to carefully review these varied opportunities to maximize your chances of earning additional scholarships and recognition beyond the BigFuture drawing.

Are BigFuture Scholarships legitimate?

Yes, the BigFuture Scholarship program is legit and fully vetted, with a reputation for awarding millions of dollars in scholarship aid to thousands of students over the years. The BigFuture Scholarships program is recognized for its transparent process, which allows students and families to be selected for generous awards without an application fee. Still, it’s important to ensure that all communications you receive about the program come directly from official sources. Unfortunately, scholarship phishing scams that attempt to trick students or parents into providing sensitive personal and financial information are common. Remember, if you ever receive a message requesting payment to enter the random drawing for BigFuture Scholarships, it is not legitimate and should be treated as a scam.

How can I apply for other scholarships through the College Board?

As previously mentioned, the College Board’s BigFuture site offers a scholarship search tool for interested students, with tens of thousands of opportunities listed at different award amounts based on:

• Where students live
• Where students plan on studying
• GPA and other measures of academic accomplishment
• Intended area of study
• Need-based factors
• Essays or other supplemental application materials

These scholarships are offered by several institutions and organizations dedicated to advancing different missions and supporting students. Applying to several scholarships increases your chances of receiving additional financial awards, which can help make college more affordable. However, there are some important things to consider before applying for third-party aid:

• Whether the award is distributed one-time or multi-year
• If it is a one-time award, whether you can reapply for future scholarships
• Whether you need to submit many materials or can easily apply with a few clicks
• College GPA requirements or other qualifications that need to be met after the award is distributed
• The possibility that your college may subtract merit or other aid awarded based on additional scholarship amounts

Applying to several scholarships can be taxing, so keep yourself organized with a spreadsheet that details scholarship due dates, amounts, and required documents. On the bright side, creating a list of scholarships through the BigFuture profile, along with other steps, automatically puts you in the running for the College Board’s generous cash prizes.

What else can I do to reduce college costs?

The BigFuture scholarship was created to help address the challenge of paying for college, as covering educational expenses is a significant financial commitment for most families. In addition to exploring scholarships and resources through the College Board, students and families can take several proactive steps before matriculation to minimize student debt and reduce immediate college costs. Understanding how to pay for college starts with thoughtful planning and wise choices:

1. Develop a comprehensive plan and budget for paying for college, setting clear limits on tuition, living expenses, and other costs. Establishing these expectations early will make it easier to evaluate your college options and manage your finances effectively.
2. Begin your college applications and financial aid forms as early as possible. This allows more time to apply for institutional aid and third-party scholarships, an essential part of paying for college without excessive loans.
3. Earn money through summer jobs before and during college. This can help students save for tuition, housing, or daily expenses, directly reducing the amount needed to cover college costs.
4. Take advantage of part-time jobs and federal work-study programs during college, a common way to earn money while gaining valuable work experience or exploring potential career paths through paid internships.
5. While in high school, students should enroll in AP classes that can lead to college credit or advanced placement, enabling students to graduate sooner and reduce total tuition costs.
6. Apply to a balanced list of safety, match, and reach schools, including public in-state universities. Many states offer top-tier public research institutions with outstanding facilities and alumni networks that rival those of private colleges, but at lower tuition.
7. Evaluate the return on investment for your intended major. For example, aspiring doctors enjoy high earning potential but face many years of schooling; choosing a cost-effective undergraduate program can make paying for medical school more manageable.
8. Consider federal student loans, both subsidized and unsubsidized, which typically offer lower interest rates and more borrower protections than private loans. Use private loans only when necessary, and be aware that Parent PLUS loans from the federal government carry high interest rates, approaching 9%.
9. If affordability is a primary concern, avoid applying Early Decision (ED), as colleges may offer less generous financial aid packages to ED applicants who are already committed to attending that institution.

Ultimately, learning how to pay for college means starting financial planning well before you receive your aid offers from accepted schools. By taking these steps in advance, you can make informed decisions about where to attend and how to manage costs, keeping college affordability at the center of your strategy.

Key takeaways

BigFuture Scholarships are an accessible, fun opportunity for students to earn valuable scholarship money that directly supports college tuition costs. Awards range from $500 to $40,000, helping to significantly reduce the affordability gap for many families and bringing students closer to achieving their dream of attending their top-choice school.

Planning for life after high school can be stressful, especially when considering the academic and financial pressures of higher education. However, investing in a college degree unlocks numerous pathways for advanced study and career growth. BigFuture Scholarships make attending university with less debt more attainable for both students and their families. Just as important, the BigFuture program introduces participants to a wide range of external scholarship opportunities, empowering students to apply for additional funding sources well before they finalize their college applications.