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Top Scholarships for LGBTQ Students
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Anna Helhoski is a senior writer covering economic news and trends in consumer finance at NerdWallet. She is also an authority on student loans. She joined NerdWallet in 2014. Her work has appeared in The Associated Press, The New York Times, The Washington Post and USA Today. She previously covered local news in the New York metro area for the Daily Voice and New York state politics for The Legislative Gazette. She holds a bachelor's degree in journalism from Purchase College, State University of New York.
Des Toups Lead Assigning Editor | Student loans, repaying college debt, paying for college
Des Toups was a lead assigning editor who supported the student loans and auto loans teams. He had decades of experience in personal finance journalism, exploring everything from car insurance to bankruptcy to couponing to side hustles.
Teddy is a former student loans writer with NerdWallet, where she covered topics around managing money before, during and after college. Her work has been featured by The Associated Press, USA Today, the Chicago Tribune and Reuters.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.59-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Variable APR
5.34-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.49-15.49%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Variable APR
5.04-15.21%
Lowest rates shown include the auto debit. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Credible lets you check with multiple student loan lenders to get rates with no impact to your credit score. Visit their website to take the next steps.
Point Foundation LGBTQ Scholarship
Point Foundation each year awards about 20 to 30 new scholarships to students who are “out” as members of the LGBTQ community. The average yearly award is $10,000, and it’s renewable for up to four years, says Alex Karas, Point Foundation internship and scholar relations manager. But being a Point Foundation Scholar isn’t just about the money — the organization provides recipients with mentorship, leadership training and professional connections.
How to qualify: The foundation considers applicants with a proven track record of leadership and community involvement; proven strong academic achievement; financial need; and who work for the betterment of the LGBTQ community.
When to apply: The deadline is late January. Learn more.
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Parents, Families and Friends of Lesbians and Gays (PFLAG) Scholarships
Known as PFLAG, this nonprofit gives national awards and local scholarships to LGBTQ high school graduating seniors or allies each year. The national awards range from $1,000 to $5,000.
How to qualify: The organization favors students who have already done service work to make their communities more inclusive. Applicants must be graduating seniors entering college for the first time. You must self-identify within LGBTQ or as an ally. You must also demonstrate an interest in service to the LGBTQ community.
The League Foundation gives out seven awards each year to graduating high school seniors who identify as lesbian, gay, bisexual, transgender or queer.
How to qualify: The application requires two personal essays, two letters of recommendation and a list of your community involvement; you’ll get “extra credit” if you’re involved in an LGBTQ-related extracurricular activity or project.
The Gamma Mu Foundation awards scholarships to gay men under age 35 and one award each year to a member of the broader LGBT community. The scholarships typically range from $1,000 to $2,500.
How to qualify: The organization preferences students from rural and underserved areas, those who have overcome discrimination, students who have shown leadership within the LGBT community, and students who are strong academically.
National Organization of Gay and Lesbian Scientists and Technical Professionals Scholarships
Known as NOGLSTP, this organization awards two $5,000 scholarships each year to LGBTQ students or active allies who are pursuing careers in science, technology, engineering or math. One award each year goes to an undergraduate student who has already completed at least two years of college and one to a graduate or professional student.
How to qualify: The application requires an essay and three reference letters.
When to apply: The application period opens each April and runs through the first Saturday of June. Learn more.
Queer Foundation Queer Scholars Program
This organization awards $1,000 each year to up to three high school seniors selected as winners of the organization’s essay contest. If you’re selected, you’ll have access to mentoring, advising and tutoring through the Queer Foundation, and you’re expected to give back by mentoring others or doing community service.
How to qualify: To qualify, you must be interested in studying queer theory or something related, such as queer legal or social issues.
The Association of LGBT Journalists Leroy F. Aarons Scholarship Award
This organization gives up to $5,000 each year to an LGBT undergraduate or graduate student pursuing a journalism career.
How to qualify: You have to demonstrate your journalism skills in your application by submitting five work samples, such as news articles; audio or video projects; or photographs published in a school or local newspaper. You also have to produce and submit a news story or multimedia package based on one of the suggested LGBT topics provided in the application instructions.
When to apply: The application period begins each spring. Learn more.
Pride Foundation Scholarships
The Pride Foundation awards more than 50 scholarships to LGBTQ students and allies in Alaska, Idaho, Montana, Oregon and Washington. The average scholarship was $3,250 in 2015, but past recipients have gotten as much as $10,000.
How to qualify: Filling out one application will put you in the running for all of the scholarships. The application requires essays and a letter of recommendation.
When to apply: The application period opens mid-October. Learn more.
Live Out Loud Educational Scholarship
This New York-based nonprofit awards three $10,000 scholarships each year to graduating LGBTQ high school seniors in New York, Connecticut or New Jersey. The organization looks for students who have been actively involved in their communities — past winners include a student who started a Gay-Straight Alliance school chapter and a student who launched an anti-bullying campaign.
How to qualify: The application requires two letters of recommendation and two essays, as well as an interview if you’re selected as a finalist.
Scholarships, which don’t need to be paid back, are an ideal way to pay for college. But it’s unlikely that you’ll be able to fund the entire cost of tuition through scholarships alone. To be eligible for federal grants, work-study programs and student loans, and some additional scholarships, complete the Free Application for Federal Student Aid, also known as the FAFSA.
Once you’ve maxed out all initial payment options, including federal loans, consider private loans to cover additional costs. Private loans tend to carry higher interest rates than federal loans. They also have fewer protections and forgiveness options. Shop around and compare private student loans before choosing a lender.
