In addition to applying for need-based financial aid, particularly industrious students might also research and apply for outside scholarships—those that come from corporations, non-profits, and other “outside” sources that are not part of the colleges themselves. But many of those students who win scholarships are later disappointed to learn that some colleges will then reduce their aid package proportionally, reasoning that you no longer need the money that your scholarships are now providing.
This article does a decent job of explaining this practice, and includes some good advice for families trying to decide how much they should depend on potential outside scholarships to help with college financing.
If finances are a primary concern, you should absolutely apply for appropriate outside scholarships. Free money for college is always a good thing, no matter where it comes from. But remember that outside scholarships account for a comparatively small percentage of available aid, and that money you do win could potentially decrease your need-based award. The best way to get the money you need to pay for college is to work hard, apply to the right colleges, particularly those where you have a very strong chance of admission, and apply for need-based financial aid.