HomeStudent LoanSix Myths About Scholarships — and How They Can Value You

Six Myths About Scholarships — and How They Can Value You

Some issues about faculty scholarships are apparent – specifically, that free cash to assist pay for faculty is an efficient factor. However for one thing everybody is aware of about, there are literally quite a lot of misconceptions and myths on the market about how scholarships work and the way college students can qualify for them.

Try these six frequent myths about scholarships and learn how to make these super instruments enable you pay in your faculty training.

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Fantasy 1: It’s important to be a star pupil (or a jock, creative virtuoso, and so forth.) to win scholarships

We’re not going to lie: for those who’re the college valedictorian, already gained a Pulitzer, and certified for the Olympics, it’s true you’ll have a better time getting faculty scholarships. However you don’t must be any of these issues to earn vital quantities of scholarship cash.

All you must be is resourceful.

Seems, there are quite a lot of scholarships on the market based mostly on all kinds of standards. Whereas government- and school-issued scholarships often have not less than modest tutorial standards for candidates, non-public scholarships could be based mostly on no matter standards the donor chooses.  

There are scholarships based mostly on demographics equivalent to your faith, gender, or ethnicity, hobbies, creative pursuits, your supposed profession path, and lots of extra. There are even scholarships on the market for super-tall folks, or these with a sure uncommon surname. In case you look, chances are high you’ll discover not less than a number of which are an ideal match for you.

To make that course of simpler, test our scholarship database that permits you to search by varied standards so you may residence in on the choices which are the perfect match for you.

Fantasy 2: Faculty scholarships are good for all for 4 years of faculty

Some scholarships are granted as four-year awards, however many aren’t. If you apply for a scholarship — and particularly for those who win it — ensure you perceive for those who’ll must reapply yearly to proceed to obtain the scholarship.

You must also test to see what standards that you must meet every year to remain eligible for the scholarship — it will not essentially keep the identical. Widespread methods you can develop into ineligible for a scholarship you’ve already gained is that if your grades drop, you progress, or for those who change majors.  

Fantasy 3: It’s important to apply in highschool

When you definitely ought to begin in search of faculty scholarships whilst you’re nonetheless in highschool, you may proceed to use for scholarships for so long as you’re at school. Some scholarships are particularly geared toward college students who’re already enrolled in faculty or pursuing graduate training.

And bear in mind: Simply since you didn’t qualify for a selected scholarship in highschool doesn’t essentially imply you don’t have an opportunity to win it later after you’ve confirmed your potential in faculty. In case you see a scholarship that you just nonetheless assume is an efficient match, go for it!

Fantasy 4: It takes a ton of effort to win a scholarship

It’s true, some scholarships do take a good quantity of effort to earn, together with writing an essay and gathering reference letters and different documentation. However that’s not the case for all scholarships. Tons of scholarships don’t require an essay; some take little greater than a filling out a short kind. (Our scholarship is straightforward to use for and your dad and mom can apply as properly.)

The place you do wish to spend some effort is ensuring you’ve met all the necessities for a given scholarship. The very last thing you need is to overlook out on free cash since you despatched in a kind a day late or forgot to incorporate a replica of your tutorial transcript.

Fantasy 5: Solely huge scholarships are value making use of for

Profitable a big-name and/or big-dollar scholarship is clearly a feather in your cap in addition to a strategy to convey down your whole faculty prices. However right here’s the draw back: Any pupil with half a prayer of successful them is making use of for them, so that you face steep competitors.

Smaller scholarships and people from lesser-known establishments don’t get as a lot fanfare, however in addition they are likely to get far fewer candidates, so the possibilities of you being the chosen grantee are significantly better.

Give it some thought: Let’s say a rural county’s chamber of commerce presents three $500 scholarships to native grads. And only some thousand youngsters every year graduate from highschool in that county — lots of whom gained’t hassle to use. You could possibly have a greater than 1-in-1000 likelihood of snagging a type of grants, in comparison with some big-name scholarships the place you’d be competing towards tens of 1000’s of different college students.

Now, $500 isn’t prone to imply you graduate faculty debt-free. However for those who can win 5, 10, or 20 of these smaller scholarships over the course of your faculty profession, it may well add as much as 1000’s of {dollars} of free cash — and a a lot lighter pupil mortgage burden when you graduate.

It is value spending a while in search of all of the smaller, under-the-radar scholarships that may go well with you. It doesn’t must be a full-time job — an hour or two per week to analysis and fill out purposes might be sufficient to internet you a major quantity of free cash.

Fantasy 6: Scholarships are solely good for tuition

A stunning variety of folks assume scholarships solely can be utilized for tuition or direct training bills and that’s not essentially the case.

Every scholarship has its personal guidelines for a way you need to use scholarship funds. Some are only for tuition; some can be utilized broadly for residing bills and extra. Some are even earmarked for sure sorts of bills, equivalent to a stipend to purchase know-how wanted to pursue your training.

If and if you win a scholarship, ensure you double-check its tips to make sure you’re staying throughout the established guidelines.

You’re juggling lots making an attempt to wrap up highschool and prepare for faculty. In search of scholarships can really feel like another activity on an already-overfilled plate. However for those who can handle to squeeze in a bit of time to search for (and apply to) the scholarships which are the perfect match you is likely to be stunned how fruitful that effort is.  To be taught extra, take a look at our scholarship information.



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