Hispanic Student Scholarships and Resources

ByMoneyGeek Team

Updated: October 20, 2023

ByMoneyGeek Team

Updated: October 20, 2023

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The number of Hispanic Americans enrolled in college has more than tripled in the last two decades as the U.S. Hispanic population has grown to more than 59 million.

Still, like many other Americans, Hispanic students must overcome roadblocks to achieve their college degrees. Often, one of the biggest obstacles for many of these students is the cost of a degree. Luckily, they can get substantial financial assistance in the form or scholarships and grants geared toward Hispanic and Latino students. Finding and applying for aid takes some effort but it's usually worth the time invested. Read on to find tips on how to navigate this process and a wide range of financial aid options to help you achieve your educational goals.

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Sources: Census, Pew Research

Scholarships, Grants and Resources for Hispanic Students

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Scholarships for Undocumented Students

Many Hispanic students have special situations, circumstances and needs that set them apart from the general student population. With the number of undocumented workers in the country around 11 million as of 2019, groups and associations around the country are working to provide students who are undocumented or whose parents are undocumented with aid to attend post-secondary school.

Undocumented students are not the only ones eligible for specialized aid for Hispanic students. Scholarships are available for students who are migrant workers or come from migrant worker families and for first-generation U.S. citizens. Even being the first to attend college in your family can win you a scholarship.

Undocumented Students

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Migrant Students

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Sources: Pew Research, Migrant Students Foundation

Resources for First-Generation Students

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Budgeting Tips for Hispanic Students

Groceries, gas, insurance, rent and other basic necessities add up quickly. If you’re looking for additional college funds or ways to save, review your monthly budget and spending habits. You can decrease some of your monthly payments to save hundreds of dollars a year. Here are some common student expenses that can be reviewed for cost-saving opportunities:

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Scholarship Application Questions and Answers

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Jeff Rossi, CFP is the founder of Peak Wealth Advisors. He has worked in financial services since 1989 in a variety of sales and executive leadership positions.

David Siminoff, Chief Creative Officer and Founder of SHMOOP, a digital publishing company that runs scholarship and advice pages. He offers some tips and insights for Hispanic students applying for scholarships.

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Why Colleges Win When They Grant Scholarships to Hispanics

Colleges and universities that provide assistance to low income Hispanic students can get a designation by the U.S. Federal government as a Hispanic-serving institution, or HSI. Gaining that status means the college or university receives sizeable grants from the government for purposes that serve Hispanics and help them with their pursuit of a college education. With the HSI designation, the school can use government grants for facilities and equipment including scientific or laboratory equipment for teaching, construction or renovation of instructional facilities; faculty development; purchase of educational materials and academic tutoring and counseling programs; and for additional programs.

There are about 300 schools with the HSI designation. To qualify for HSI status, Hispanic undergraduates must comprise at least 25% of a school's student enrolled in a full-time program. The school has to offer a two or four year degree program and cannot be a for profit post-secondary education institution. According to Excelencia in Education, the nonprofit focused on accelerating Latinos' success in higher education, the number of colleges and universities that have Hispanic full-time enrollment of 25% or more grew to 523 in 2017 from 189 in 1994. The Post-Secondary National Policy Institute found that 65% of Latino college students attended a Hispanic Serving Institution, and 40% of Latinos with college degrees graduated from HSI schools, according to data from the 2016-2017 school year.

For students, enrolling at an HSI school can bring unexpected benefits. Usually, the professors and administrators come from similar backgrounds and therefore can relate more easily with Hispanic students. At many of the HSI schools, speaking Spanish is commonplace. Cultural programs frequently pivot around Latino culture as well as the school's outreach and community service. However, HSI schools don't usually have huge endowments, which means they can't offer students much in the way of scholarships and grants. Much of the financial aid a student is eligible for comes from state and Federal programs.

Though the number of HSI designated schools is growing, it can be challenging to find one that meet's your unique situation. A prospective student, after all, has to weigh the school's academic offering and its services geared toward Hispanics when deciding which school to attend.

About MoneyGeek Team


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The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers includes mortgage experts, veteran financial reporters and award-winning journalists. Learn more about the MoneyGeek team.