Thursday, March 19, 2020

Horizon offshore Inc

Horizon offshore Inc Horizon Offshore IncI General Information:A. Company NameHorizon Offshore IncB Company's IndustryHorizon Offshore, Inc. is a leading provider of marine construction servicesto the offshore oil and gas Industry.C. Choice of this companyJust a friend of mine had recommended this company.D. Company trade LocationCompany trades at NASDAQ NM.E. The ticker symbol of the company.Ticker symbol is HOFF.F. Auditing firmArthur Andersen LLP, Houston, Texas.G.Information about the website1. The following information are provided in the website such as The Horizon news, about the company and its operations, the press releases, Investor relations which consists of the share holder information and the transfer agents address, corporate overview and the SEC filings (8K,10K and 10Q).2. Website Address:www.horizonoffshore.com.3. Website Print out:Horizon Offshore, Inc. provides marine construction services to the offshore oil and gas industry around the world.Company year-end-party - 08The Company's fl eet is used to perform a wide range of marine construction activities, including installation and burial of marine pipelines with conventional 'S' pipelay and "reel" pipelay methods, derrick barge operations for installation of new and abandonment of old oil and gas producing facilities.Horizon's mission is to pursue operational excellence while maintaining the highest regard for the management of health, safety and environment (HSE) and quality. In all aspects of our work, we provide high quality, industry recognized marine construction services throughout the world.Recent Horizon News02/26/2003- Horizon Offshore to Present at Raymond James Associates 24th Annual Institutional Investors Conference01/22/2003- Horizon Offshore Names Additional Board Member01/13/2003- Horizon Offshore Names New DirectorSearch | Disclaimer | Web Policy | Questions/Comments |Copyright  © 1996-2002Horizon Offshore, Inc. All rights reserved.Company EnvironmentA. Article about the company and its indust ry.Article1:1. "Horizon offshore wins Gulf Of Mexico Pipeline contract from Williams." (10/17/2002), www.oilworks.com/new/i102102.htmlHorizon Offshore Inc is a leading provider of marine construction services to the offshore oil and gas industry. Operations are concentrated in the shallow deep water ranges of U.S Gulf of Mexico, central and South America, with strategic expansion into other international areas. Horizon offshore of Houston, Texas has been awarded a contract by Williams's oil gathering to install 50 miles of oil pipeline in the united states of gulf of Mexico for the mountaineer shallow water pipeline system, which is the part of the devils tower project being constructed by Williams.Horizon offshore decided to utilize one of their largest vessels Lone Star horizon and Pecos horizon for pipelining. This will be installed in water depths ranging from 8 to 270 feet. the work started in the fourth quarter of 2002 and scheduled to complete during the first quarter of 2003 .Gulf of Mexico demonstrates the company's ability to capitalize and benefit from growing deep water field development, by performing related shallow water work. Horizon's stellar track record frequently makes them marine construction contractor of choice by its customers for longer, high profile project of this type.Article2.2. "Horizon offshore announces International certifications" press release(9/16/2002), horizonoffshore.com/pressreleases/pressrelease.asp?id=69Horizon offshore also called HOFF announced its achievement of two internationally recognized certifications. Norwegian classification society Det Norske Veritas (DNV) certified horizon with occupational health and safety assessment series management system standard OHSAS 18001.This certification is designed to minimize the risk of accidents and near-miss incidents that employees and other parties may encounter while participating in work-related activities.The second certification was received by DNV to international qu ality management system standard ISO9001:2000 for its activities in Houston and Southeast Asia marine constructionm.Compliance with this certification is expected to enhance customer satisfaction by demonstrating horizon's ability to consistently provide products meeting customer and applicable regulatory requirements.The company is mainly involved in performing wide range of marine construction activities, including installation of marine pipelines to transport oil and gas and other sub sea production systems.The industry conditions and volatility, prices of oil and gas, the company's ability to obtain and the timing of new projects reflect the actual results. Obviously horizon has grown up to level where it reached the depths of the marine construction.B.Company Analysis:Horizon offshore, Inc is a leading provider of marine construction services to the offshore oil and gas industry and was established in the year 1989 with around 545 employees, including 399 operating personnel an d 146 corporate, admisnistrative and management personnel. Operations are concentrated in the shallow to deepwater ranges of the US Gulf of Mexico, Central and South America with strategic expansion in to other international areas.Horizon.The company's fleet consists of thirteen vessels, twelve of which are operational. The company established a joint venture with Cal Dive International, Inc to participate in the ultra deep water market. The primary services the Company provides include installing pipelines to transport oil and natural gas, providing pipelines, hook-up and commissioning services and installing production platforms and other structures and then salvaging them at the end of their life cycles.During 2001, the Company laid 126 miles of pipe of various diameters in various depths. In 2001, the Company performed a total of 72 pipeline construction contracts, and installed or removed 30 offshore platforms. The Company continued its international expansion efforts with the purchase of the Sea Horizon in July 2001, a combination 360-foot derrick pipe lay barge. After completing upgrades and modifications, the Sea Horizon became the Company's largest combination barge capable of performing turnkey projects in remote locations with a single mobilization. The Sea Horizon was mobilized in February 2002 to perform a pipeline and platform installation project in Indonesian waters. This project, involving over 10.6 kilometers of pipe at water depths of 175 feet, and a 450-ton, four-pile platform installation, marks the Company's entry into Southeast Asia. The Sea Horizon is scheduled to upgrade its lift capacity to 1,200 tons in the latter part of 2002. The Company intends to continue operating the vessel in Indonesia and Malaysia, as well as other areas in Southeast Asia, such as Thailand and Vietnam. The Company's pipe lay vessels employ conventional S-lay technology, which is appropriate for operating on the United States continental shelf and in many inte rnational areas. For larger pipe burying projects, or where deeper trenching is required, the Company uses the Canyon Horizon, the dedicated pipe bury barge.For the nine months ended 9/30/02, revenues fell 2% to $195.4 million. Net income before extraordinary item decreased 56% to $4.8 million. Results reflect higher contract revenues from the projects in Mexico, offset by a $2 million loss due to a fire. The major competitors for this company are Atlas Pipeline Partners (APL) and Atwood Oceanic, Inc. (ATW)The marine construction industry is highly competitive .Competition is influenced by factors such as price, availability and capability of equipment, personnel, reputation and experience of management. They currently compete with Global industries, Ltd., Torch Offshore, Inc and a few other smaller contracters, and the competitors for the installation and removal of production platforms are offshore specialty Fabricators, Inc.C.Plotting Stock prices:IV: Balance sheet and Income sta tement analysis:A. Balance sheet:1. There are two types of stocks reported on the balance sheet they are the Common stock with a par value of 35000,000 and preferred stock of 5000,000.2. The number of shares that are authorized are 24244598, the number issued is 19,869098 and the number of outstanding for each year is3. The Accounting equation is A=L +E393584=207894 + 185690Beginning balance: Assets = Liabilities + Equity239425=135390 + 239425Ending Balance: Assets = Liabilities + Equity393584= 207894 + 3935844. The inventory has increased from last year to this year5. The company's largest asset is the company's property and the equipments (6 vessels)B.Income Statement Analysis:1. The change in the cost of goods sold is 237,175 and he Gross Margin from Last year to this year is2. The net income from last year 2000 is $6374, and 10,693 in the year 2001,Hence the net change in the net income is 43193. The largest operating expense is the selling general and Administration expense whi ch is 13,7714. The company has one revenue account.C.General1. The amount of dividends the company paid last year is 95,838 in 2001, and 16,581 in the year 2000.This change is due to the change in the net income from last year to this year.2. The 3 items of information that I learned from reading the footnotes are the Accounts Recievable, Notes payable and the Dividends.V. Ratio Analysis:Return on Assets: This is a profitability ratio that measures how efficiently the company uses assets to produce profits.The Return on Assets can be calculated by: Net Income before taxes / Total Assets.$16,078 / 393584 = .041 or 4.1%The company has a low return on assets.Total Asset Turnover: A profitability ratio that indicates the amount of revenues produced for a given level of assets used.Total Asset turnover = Sales / Total Assets$272208 / 393584 = .69 0r 6.9%This indicates that horizon produced 6.9% as many dollars in sales as it has invested in assets.Profit Margin after Income taxes: A prof itability ratio that measures the earnings produced from a given level of revenues by comparing net income after income taxes with the revenue figure.Profit margin after Income tax = Net Income after taxes / sales$10,693 / 272208 = .039 or 3.9%Return on Equity: A profitability ratio that measures the after-tax net income generated from a given level of investment by a company's owners.Return on equity: Net Income after taxes / Equity$10,693 / 185690 = .057 or 5.7%Current Ratio: A liquidity ratio that measures a company's ability to meet short term obligations by comparing current assets to current liabilitiesCurrent ratio: Current assets / current liabilities$161745 / 83690 = 1.93 to 1.This indicates that Horizon had $1.93 of current assets for every $1.00 of current liabilities at the end of 2002Quick Ratio: A liquidity ratio that is similar to the current ratio, but a more stringent test of liquidity, because only current assets considered to be highly liquid are included in the c alculation.Quick ratio = Cash + Receivables + Marketable Securities / current liabilities.$7864 + 52431 + 0 / 83690 = .72 to 1Net sales to working capital ratio: A ratio used to measure the level of sales generated from a given level of working capitalNet sales = Sales / Current assets - Current liabilities$272208 / 161745 - 83690 = 3.487 to 1This figure suggests that in 2002 the horizon generated $ 3.48 in sales for every $ 1 of working capital it had at the end of 2001Inventory turnover: A liquidity ratio that indicates how long a company holds its inventoryInventory turnover = cost of sales / inventory$237175 / 1705 = 13.9 times365/13.9 = 26.25 daysDebt ratio: A solvency that indicates what proportion of a company's assets is financed by debtDebt ratio = Total liabilities / Total assets = 207894 / 393584 = .53 0r 53%Total liabilities to Net worth = A solvency ratio indicating the relationship between creditors claims to a company's assets and the owners claim to those assetsTotal liabilities to net worth = total liabilities / net worth83690 / 185690 = .451The horizon has $ .451 of debt for every $1 of equity.

Monday, March 2, 2020

ACT Scores

Guaranteed Scholarships Based on SAT/ACT Scores SAT / ACT Prep Online Guides and Tips Maybe you’ve taken the SAT or ACT and got a really good score, but you aren't sure how to get the most money out of it. Or maybe you haven’t taken the SAT or ACT yet but are wondering how important the tests really are. One way you can make the most of your score is by finding guaranteed SAT scholarships or guaranteed ACT scholarships. In this post, we'll show you some of the scholarships for high SAT scores and scholarships for high ACT scores that you can get. You can earn thousands of dollars in scholarships based just on your test scores. Curious to see how? We'll show you where you can get scholarships based on ACT scores and scholarships based on SAT scores. Scholarships for ACT Scores and Scholarships for SAT Scores This post focuses on scholarships offered by colleges and universities themselves. Why? Many private scholarships, while lucrative, feature full, college-admission-like applications, including letters of recommendation and essays. Lots of other smaller scholarships are based on essays, personal circumstances, or even your parent's employer. While we are not discouraging you from applying to these, this post will focus on scholarships any student can earn automatically from universities just based on their test scores and GPA or class rank. We will highlight some of the most searched-for universities and best opportunities, but this is not a comprehensive list. We will also show you how to look up this information for any college you’re interested in. Automatic Scholarships for National Merit Before we get into the scholarship list, we'll also highlight another source of money based mainly on test scores: National Merit. As we have covered in past posts, the National Merit competition recognizes the top PSAT (Practice SAT) scorers in each state. While there is a $2,500 scholarship you can earn through the competition itself, you can also get big scholarships from colleges by listing them as your first choice through National Merit. You can get anything from a small scholarship to a full ride, depending on the school. As a rough rule of thumb, public universities are more likely to give more money for National Merit, though there are exceptions. For example, you can get a full ride scholarship at the University of Idaho and the University of Oklahoma. At Loyola University, a private college, you can get $2,000 for being a National Merit finalist.However, at Baylor, another private college, you can get more than $40,000, if you're a National Merit Finalist and select Baylor as your first-choice college. The exact amount is based on your other test scores: SAT Score ACT Score Amount per year 1520+ 34+ $43,610 1450-1510 32-33 $42,610 1330-1390 30-31 $41,610 You can read more about this opportunity at Baylor's website. But this is just the tip of the iceberg of National Merit scholarships. To learn more aboutsponsoring universities,read here. Automatic Scholarships Based on SAT/ACT Scores Now we will highlight colleges that give automatic scholarships based on SAT/ACT scores, as well as qualifiers like GPA or class rank. For these scholarships, you don’t have to submit any extra application information, but in some cases, you have to apply by a certain deadline to be guaranteed the scholarship. Be sure to check out each college's website, which we will link to, for full info. As a shortcut, here are the schools we're going to detail: Baylor University Clemson University Colorado State University Florida AM Florida Gulf Coast University Georgia State Louisiana State University Texas Tech University of Arizona University of Mississippi University of Missouri University of Nevada at Las Vegas University of Oregon University of Tennessee University of Texas at Arlington Utah State University Baylor University In addition to the National Merit award highlighted above, Baylor University also offers scholarships based on SAT/ACT score and class rank. Scholarship Amount Awarded per Year President’s Gold Scholarship $19,000-22,000 Provost’s Gold Scholarship $16,000-18,000 Dean’s Gold Scholarship $13,000-15,000 Founder's Gold Scholarship $7,000-12,000 Baylor does not have set cut-offs for these award tiers but bases the awards on SAT/ACT score and class rank. They do have a scholarship estimator you can use to predict your award amount. As an example, based on the estimator, a 36 ACT with a high class rank (5/500) gets you a President’s Gold scholarship of $22,000/year. A 34 with the same rank also gets you $22,000, a 32 gets you $20,000, and a 28 gets you $16,000. While these are all high amounts, note that increasing your ACT from 28 to 32 gets you $4,000 more dollars each year- $16,000 over your whole college career. Or, to take another example, if your class rank is 250/500 and you have a 24 ACT, you don’t qualify for a scholarship. But if you have that same rank but a 27 ACT, you can get a Founder’s Gold Scholarship of $10,000 per year. In other words, a 3-point ACT increase, which is definitely possible with some smart studying, can earn you $40,000. That’s amazing! Check out Baylor’s scholarship page for more information and to try the scholarship estimator for yourself. Clemson University Scholarship Minimum SAT or ACT Score Class Rank Requirement Amount Awarded per Year Trustee Scholarship (for in-state residents) SAT: 1270 ACT: 27 Top 10% $1000 Trustee Scholarship (for out-of-state residents) SAT: 1360 ACT: 29 Top 10% $7500 At Clemson, South Carolina residents will receive the Trustee Scholarship of $1,000 if they are ranked in the top 10% of their high school class and also have at least a 1270 SAT (Math + Critical Reading) or 27 ACT. Non-residents with at least a 1360 SAT or 29 ACT and ranked in the top 10% of their class will receive a renewable scholarship of at least $7,500. The scholarship page notes â€Å"Students with higher test scores will be considered for these merit scholarships up to $15,000 annually.† So although they don’t have hard numbers, you can double your scholarship if you have higher scores. Read more on Clemson's scholarships over at their website. Colorado State University Colorado State has automatic scholarships based on GPA and SAT/ACT score. Refer to the tables below from their website to see how much you can earn: Merit Scholarships for Colorado Residents Note that score increases net you more money: to take just one example, going up 3 ACT points or 1300-1390 can get you $1,500 more dollars! Merit Scholarships for Non-Residents Learn more about scholarships at CSU for residents and non-residents at their website. Florida Agricultural and Mechanical University FAMU offers a Distinguished Scholars program that covers the cost of tuition for both in-state and out-of-state students with at least a 1350 on the new SAT (with a math score of at least 650) or 30 on the ACT (with a math score of at least 30) and a FAMU recalculated GPA of at least 4.0. If you don’t reach the cut off for the Distinguished Scholarship, you can still earn the George W. Gore Assistantship Scholarship or the Presidential Special Scholarship.The amount of the award changes based on your GPA and test scores: Scholarship Minimum SAT or ACT Score Minimum Math Score FAMU GPA Amount Awarded per Year George W. Gore SAT: 1200 ACT: 27 SAT: 590 ACT: 26 3.5 $5000-$6000 Presidential Special Scholarship SAT: 00 ACT: 25 SAT: 550 ACT: 25 3.3 $3000-$6000 So if you have at least a 3.0, a 2-point ACT increase gets you $1,000 more dollars. Read more about scholarships on FAMU’s admission website. Florida Gulf Coast University FGCU has scholarships based on GPA and SAT/ACT score, but you have to apply by November 15thto be considered. Scholarship Residency Requirement Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year President’s Gold Florida Resident SAT: 1320 ACT: 28 3.9 $5000 President’s Silver Florida Resident SAT: 1220 ACT: 25 3.5 $3000 Blue and Green Scholars Award Non-Florida Resident SAT: 1320 ACT: 28 3.9 $15,000 Blue and Green Directors Award Non-Florida Resident SAT: 1220 ACT: 25 3.5 $10,000 Learn more about scholarships and the application process at FGCU's website. Georgia State University Georgia State calculates automatic scholarships based on GPA and SAT/ACT score. They don't publish eligibility information, but you could earn anywhere from a $500 one-time scholarship to a $3,000 renewable scholarships. You have to apply by March 1st to be considered for these awards. Louisiana State University LSU has three scholarships based on GPA and test scores you are considered for automatically. View the amounts in the table below: Scholarship Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year (In-State) Amount Awarded per Year (Out-of-State) Flagship Scholars SAT: 1490 ACT: 33 3.0 $3500 $20,500 LSU Academic Scholars Award SAT: 1390 ACT: 30 3.0 $2000 $15,500 Tiger Excellence Scholars Award SAT: 1310 ACT: 28 3.0 $1500 $7,600 You can learn more about LSU's other scholarships, as well as the three listed here, over at their scholarships page. Texas Tech University These Presidential Scholarships are automatic and are guaranteed if you apply by February 1st and are admitted to Texas Tech by April 15th. Scholarship Minimum SAT or ACT Score Class Rank Requirement Amount Awarded per Year Presidential Scholarship SAT: 1400 ACT: 30 Top 10% $6000 Presidential Scholarship SAT: 1300 ACT: 27 Top 10% $5000 Presidential Scholarship SAT: 1200 ACT: 25 Top 25% $4000 Note that 1-2 point ACT increases and slight SAT increases could increase your scholarship by $1,000 per year. Read more about the scholarships at the TTU website. University of Arizona The University of Arizona uses test scores and GPA to calculate scholarship award ranges. In-state awards are called "Wildcat Excellence Awards," and out-of-state awards are called "Arizona Excellence Awards." Wildcat Excellence Awards (In-State Students) Arizona Excellence Awards (Out-of-State Students) Learn more about scholarships at University of Arizona at their website. University of Mississippi At the University of Mississippi, you can earn an Academic Excellence scholarship based on your GPA and SAT/ACT score. Their admissions website notes that â€Å"Entering freshmen, minimum 3.0 high-school GPA. a minimum 25 ACT (30 SAT or 1200 SAT-R)† are considered for the Academic Excellence scholarship. You are automatically considered after being admitted to the University of Mississippi. Minimum ACT Score SAT Score Range Minimum GPA Mississippi Resident Award per Year Non-Resident Award per Year 25 1200-1230 3.0 $1,500 $1,500 26 1240-1270 3.0 $1,900 $1,900 + $2,000 towards non-resident fee 27 1280-1300 3.0 $2,250 $2,250 + $3,000 towards non-resident fee 28 1310-1340 3.0 $3,000 $3,000 + $4,000 towards non-resident fee 29 1350-1380 3.0 $3,500 $3,500 + $5,000 towards non-resident fee 30 1390-1410 3.0 $4,500 $4,500 + $7,500 towards non-resident fee 31 1420-1440 3.0 $5,500 $5,500 + $10,000 towards non-resident fee 32 1450-1480 3.0 $7,500 $7,500 + $15,954 towards non-resident fee 33+ 1490+ 3.0 $8,550 $8,550 +$15,954 towards non-resident fee Note that the GPA requirement does not increase over the table, only scores. An ACT increase of one point or SAT increase of just 10 points can get you over $1,000 more per year, and that’s not including the non-resident fee that also gets decreased. See more at the University of Mississippi's scholarships page. University of Missouri The University of Missouri has a handful of scholarships that are automatic, based on class rank and SAT/ACT score. There are scholarships for both in-state and out-of-state students. You can learn more about University of Missouri's scholarships here. Scholarship Residency Requirement Minimum SAT or ACT Score Amount Awarded per Year Chancellor’s Award Missouri Residents SAT: 1390 ACT: 31 $6500 Curators Scholars Award Missouri Residents SAT: 1300 ACT: 28 $4500 Excellence Award Missouri Residents SAT: 1200 ACT: 25 $3000 Mark Twain Award Non-Missouri Residents SAT: 1360 ACT: 30 $15,000 Mark Twain Award Non-Missouri Residents SAT: 1260 ACT: 27 $7000 University of Nevada at Las Vegas UNLV has the Rebel Challenge scholarship for non-resident students. The award amounts are based on GPA and SAT/ACT score, but are first-come first-serve, which means the earlier you can apply, the better. Scholarship Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year President’s Award SAT: 30 ACT: 23 3.75 $,000 Provost’s Award SAT: 30 ACT: 23 3.5 $9,000 Dean’s Award SAT: 30 ACT: 23 3.25 $7,000 Read more about this scholarship here. UNLV also has other automatic consideration scholarships. Here's the scholarship schedule: You can also get additional money ($1,000 per year) if you are in the top 10% of your graduating class, and even more money if you are the valedictorian! If you’re a Nevada resident and want to learn about other scholarship options, check out their freshman scholarships page. University of Oregon The University of Oregon has scholarships that are automatic. The award amounts vary based on your residence status: Scholarship Residency Requirement Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year Summit Oregon Resident SAT: 1250 ACT: 26 3.8 $6000 Summit Non-Oregon Resident SAT: 1250 ACT: 26 3.8 $10,000 Apex Oregon Resident SAT: 1220 ACT: 25 3.6 $3000 Apex Non-Oregon Resident SAT: 1220 ACT: 25 3.6 $7500 Note that if you raise your ACT from 25 to 26, or SAT from 1220 to 1250, your award can increase by $3,000 if you’re a resident, or $2,500 if you’re a non-resident. That’s a ton of money for just a few points! Learn more about the scholarship at Oregon's financial aid website. University of Tennessee To be considered for the Volunteer Scholarship, you need a strong GPA and SAT/ACT score. According to the website, â€Å"Our newVolunteer Scholarship program recognizesstudents with an exemplary academic record based on a combination of GPA and test scores. Incoming first-year studentswho apply for admission by December 1are eligible.† So note the early deadline, and check out the scholarship amounts below: Tennessee Residents Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year SAT: 1490 ACT: 34 3.8 $8,000 SAT: 1390 ACT: 31 3.8 $5,000 SAT: 1330 ACT: 29 3.8 $3,000 Non-Tennessee Residents Minimum SAT or ACT Score Minimum GPA Amount Awarded per Year SAT: 1490 ACT: 34 3.8 $15,000 SAT: 1390 ACT: 31 3.8 $12,500 SAT: 1330 ACT: 29 3.8 $7,500 Learn more about the award at Tennessee's scholarships page. University of Texas at Arlington You will be considered for the following scholarships once you are admitted to the University of Texas at Arlington. Scholarship Minimum SAT or ACT Score Class Rank or GPA Requirement Amount Awarded per Year Presidential Scholar SAT: 1400 ACT: 30 Top 20% of class $10,000 Maverick Academic Scholarship SAT: 00 ACT: 23 Top 50% of class $2000-$8000 Learn more about the award and the application process over at their website. Utah State University At Utah State University, there are automatic scholarships (as well as admission standards) based on a combination of GPA and SAT/ACT score. The admissions office has created tables for both residents and nonresidents that you can use to see which scholarship you'd be eligible for. Residents Scholarship Award Amount Duration Presidential 100% tuition and fees 4 years Dean's 90% tuition 2 years Scholar 60% tuition 2 years Merit 40% tuition 2 years Achievement 20% tuition 2 years Nonresidents Scholarship Award Amount Duration Presidential 100% tuition and fees 4 years Dean's 90% tuition 2 years Waiver 70% tuition 1 year Note that a one-point ACT increase or 40-point SAT increase could be the difference between two years of full tuition and a four year, full-ride scholarship! Read more about admission and scholarships at USU's website. Scholarships With Score Cut-Offs Although many universities don’t have automatic scholarships based on test scores, GPA, or class rank, many use these factors as cut-offs for scholarship consideration. So even though in these cases high scores don’t guarantee you scholarships, they are an important factor in being considered. Just like when you were a kid and couldn't get onto the roller coasters at the theme park, you won't even be considered for some scholarships without high enough SAT/ACT scores. For example, you’ll be considered for a full ride at Auburn University if you have at least a 33 ACT or 1450 SAT and a 3.5 GPA if you are an Alabama resident. If you’re a non-resident, you will be considered for an $18,000 a year scholarship if you have at least a 33 ACTor 1450 SAT and at least a 3.5 GPA. If that’s out of your range, you could be considered for a $4,000 a year scholarship at Auburn if you have at least a 28 ACT or1300 SAT, a GPA of at least 3.5, and are an Alabama resident (They have other scholarships for non-residents, too). Texas AM has scholarship eligibility requirements as well. Under their eligibility section, they note, â€Å"To be considered for the scholarships listed,students must achieve a minimum1360 New SAT composite score (evidence-based reading and writing score of at least 660 + math scores of at least 620), or 30 ACT composite (English + Math, with scores of at least 27).† So are these scholarships guaranteed even if you meet these minimum scores? No. But you won’t be considered for them at all unless your ACT or SAT score is above a certain level. Many other colleges have GPA and score cut-offs for scholarship consideration, so the higher you can get your scores, the more likely you are to earn merit scholarships. How To Look Up Automatic Scholarships The examples of scholarships above are just that- examples! It isn’t by any means a full list of every university in the country where you can get automatic money for your ACT or SAT score. So how do you find that information? Search for merit scholarships. The majority of scholarships given for test scores and GPA are merit scholarships- in other words, they are given based on your achievements, unlike need-based scholarships, which are based on your demonstrated financial need. Make sure to look for pages titled â€Å"Merit-Based† or â€Å"Academic-Based† scholarships. Many colleges and universities have separate pages for merit scholarships that a simple search will pull up. If you do not see one, try searching â€Å"[College/University Name] Scholarships† or â€Å"[College/University Name] Financial Aid.† If you start at the university’s financial aid section, you can find information on scholarships (both merit and need-based) from there. If you can’t find the information online, try contacting either the financial aid or undergraduate admissions offices. Keep the following guidelines in mind as you search: Make sure the scholarships you find are specifically designated for â€Å"Entering Freshmen.† These are the scholarships that will apply to you as a high school student applying to college. See if the college makes a designation between in-state and out-of-state applicants. In some cases, state universities will give bigger scholarships to non-resident applicants since out-of-state tuition is higher. Sometimes there are also differences in requirements and cut-off scores. Check if there are separate application requirements or deadlines. Scholarship money is limited, so in general, the earlier you can apply, the better. Use the steps below to look up whether there are automatic scholarships at any of the colleges you are interested in. Step 1: Searchfor â€Å"[College/University Name] Merit Scholarships.† I'm searching for a college in my home state of Utah. I'll start with the second result: "Available Scholarships." This seems like the most general option, and I want to get the most information right off the bat Step 2: Determine If You Qualify for Any of the Scholarships I see that there are different scholarships for freshman and transfers. Also, note that they say you can apply for a scholarship just by submitting an application. Looks good so far! Under scholarships, I select "Freshman Scholarships." Reading this information, they don't seem to distinguish between resident and non-resident scholarships. They also seem to place a lot of value on GPA and SAT/ACT score, which is a good sign they might have automatic merit scholarships. Scrolling down, I see this: If you see a table or index with GPA and test scores you’re in luck, you’re likely looking at scholarship guidelines or automatic scholarships. In Westminster's case, it looks like these are the amounts they generally give for certain GPA and test scores, though they say the chart is a "general representation," so these amounts might change based on other info in the application. So it looks like at Westminster College you have a very strong chance of earning a scholarship if your GPA and SAT/ACT score fall somewhere on this table. Step 3: Check If You Need to Do Anything to Apply As I mentioned above,there is no separate application for scholarships in this case. Westminster is a good bet for an automatic scholarship, and the higher your scores, the more money you are likely to get. You can repeat this process at any school you're interested in, but keep in mind that automatic scholarships are relatively rare (especially at more selective schools), so you may not find anything. What’s Next? Some schools don't have merit-based scholarships but do have very impressive need-based financial aid packages. However, those schools are often prestigious and top-ranked, and so they are the toughest to get into. Develop a target ACT or SAT score to be competitive for admission at competitive schools. Avoid some of the most common ACT mistakes to raise your score. Also, learn how to improve a bad SAT math score. Shooting for perfection? Get study tips from our SAT full scorer, and learn what it takes to get a 12 on an SAT essay or an ACT essay. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: Have friends who also need help with test prep? Share this article! Tweet Halle Edwards About the Author Halle Edwards graduated from Stanford University with honors. In high school, she earned 99th percentile ACT scores as well as 99th percentile scores on SAT subject tests. She also took nine AP classes, earning a perfect score of 5 on seven AP tests. As a graduate of a large public high school who tackled the college admission process largely on her own, she is passionate about helping high school students from different backgrounds get the knowledge they need to be successful in the college admissions process. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. 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