Not only are debt-free scholarships a wiser way to pay for college, but the current student loan market is making scholarships look better every day. Major sources of funding for student loans are backing out of the business, particularly banks like the TCF Financial Corporation, HSBC Bank USA and the M&T Bank Corporation. With three of the fifty largest lenders out of the game, $560 million dollars worth in student loans is now inaccessible to the students who need them.

If you need some cash for college, I suggest you start the scholarship search as soon as possible. There is a lot of scholarship money out there, but securing one can be tricky. Here are a few tips to help you win the scholarship game.

1. Start Local: Local scholarships don’t always offer as much money as national ones, but the competition is much less fierce. Start by searching your 1) high school organizations and clubs, 2) local organizations such as the Rotary or YMCA, or even your local church, and 3) local library and newspaper. Online, you can also visit local.com and enter “Scholarship” along with your city in the search bar to find local scholarship resources online.

2. Go Corporate: Most large corporations such as Walmart and Target offer various scholarships. While many of these companies award large scholarships, the competition can be extremely tough. They are definitely worth applying for, but I wouldn’t put all of your eggs in this basket.

3. Surf the Net: There are several scholarship search sites, read this post for tips in finding the best ones.

4. Get Organized: Make a spreadsheet of all of the scholarship deadlines so you don’t miss any. Since students are notorious for procrastinating, you might have a better chance if you apply for the scholarships with the earliest deadlines.

5. Use Your Counselor Wisely: Don’t waste the opportunity to meet with your high school counselor. Many high school counselors are so overstretched that they can offer little more than a few generic meetings. Make the most of what little time you might have by compiling all of your questions ahead of time and prioritizing the topics you need to discuss.

6. Work Your Network: Let your family, friends, teachers and coaches know that you are searching for a scholarship. You never know what they might have for you. Your uncle’s company may offer scholarships or your mom’s friend may know of a scholarship her son or daughter applied for. Get the word out and follow-up to make sure they don’t forget to help you.

7. Diversify: A student I know applied for 35 scholarships and got three. It’s just like any other game. You will increase your odds if you apply for as many as you can. No one regrets applying for too many scholarships.

8. Believe In Yourself: I know this is a bit cliché, but a lot of students don’t apply for scholarships because they don’t think they have a good chance of winning them. Our organization gives a percentage of profits to scholarships and we hardly had any applicants for our first few scholarships. You’ll never know what your chances are if you don’t apply.

In conclusion, there is a lot of money out there, but it’s just like anything else – you have to put the work in to get results. So, quit thinking about it and just start applying.

Happy Hunting.