There is great discussion among parents about whether or not scholarship applications are worth it. I happen to be one who believes they are. My daughter attended an expensive private university based on the scholarships she won from outside sources and from the university itself. Those scholarships allowed her to attend a school that was financially out of reach. Hence, I’m a firm believer in the value of scholarships.

Here are 3 reasons I believe ALL college-bound students should apply:

• Scholarships help reduce the cost of college-Free money is always better than money you have to repay.
• Many times, the effort required on your part is minimal-Numerous employers hand out money to worker’s kids without requiring much more than a one-page application. Grab that cash!
• Your family might not qualify for need-based aid-In this case, scholarships can eliminate the need to dip into savings or retirement to fund college expenses.

Applying for scholarships, in my mind, is a no-brainer. What have you got to lose? FREE money for college. I don’t know about you, but in today’s economy, it makes even more sense.