You may hesitate to complete a college scholarship application but before you decide not to, consider the benefits of scholarships and why scholarships are essential. I didn’t use scholarship opportunities; after graduation, I was stuck with years of debt to repay.
The impact of a scholarship can change your future – and so does student loans, debt, or dropping out because of financial stress.
Why are scholarships important for high school students? This may seem obvious, but undergraduate degrees are costly, and winning a scholarship could be the financial assistance you need to go to school. You may even avoid needing a student loan.
Here are my nine personal reasons why you should apply for a scholarship and why teachers, your parents, and society would recommend it. Of course, excellent grades are beneficial when a learner applies for merit-based aid, but not all scholarships are for the highly gifted.
1. Scholarships make a college education affordable despite college expenses
Scholarship programs provide students who can’t afford the entire cost of going to college the opportunity to earn an education. Earning a college degree is a worthwhile investment. However, the cost of tuition is the most obvious and often the main reason the college experience isn’t available to many high school students. Public colleges can cost about $50.000, and public colleges $21.000
With an estimated, 1.7 million scholarship opportunities available, more deserving students can rely on scholarship money as financial aid.
2. Scholarships boost career opportunities with an impressive resume
Scholarships are awarded because of a student’s academic excellence or other accomplishments. Applying for scholarships also takes innovation and is already a courageous act; winning a scholarship is impressive. You may not realize it, but you’ve already achieved something many students didn’t, and your college career hasn’t even started.
It may not seem a big deal to you, but society and potential employers understand the prestige and importance of getting scholarships. That’s why it is so important always to include it in your resume.
In addition, it shows potential employers that you are hardworking, dedicated and a particularly valuable asset to them. It makes a huge difference, so share the scholarship details on your resume or CV. It gives you that extra edge, could enhance your chances in a large firm, and be the one thing that lands you your dream job. ; it gives you an edge, and in a large firm will enhance your chances of landing your dream job.
3. A Scholarship frees up time for studying, reducing the need to work
Scholarships reduce the impact of educational expenses allowing students the time to study instead of spending 15-20 hours per week working. According to 2020 USA government statistics, about 53% of full-time undergraduate students and 83% of part-time students work while studying because they cannot afford tuition fees and college costs.
For some college students, working part-time positively impacts their academic performance but for others, balancing studies and work time is the biggest challenge. As a result, many students can’t handle the pressure of acquiring college credits and earning money for college tuition; they drop out of college.
Not having to work frees up time to study – an excellent benefit of why scholarships are important.
4. Scholarships offer unique opportunities to reach academic goals
When you apply for scholarships, you are one step closer to removing obstacles that hinder you from achieving your dreams and higher educational goals. Scholarships help close the gap; it’s the key between dreams and achievements.
Worldwide scholarships increase the chances of studying in other countries. If the language isn’t a barrier, it is a larger scope of possibilities. In addition, it could lead to more educational opportunities; no longer are learners limited by state or city but can easily travel and study abroad.
5. Scholarships teach students accountability and financial management skills
Sometimes students start college without any money management skills. Some come from a background lacking in financial knowledge, while others never learned to be wise with their pocket money.
Scholarships are linked to financial benefits, and many students must learn to budget carefully with the funds allocated. Their learning knowledge in finance becomes practical application. Awarded scholarships offer college students the single opportunity to reach a tremendous goal. Students learn accountability in all areas of college life, including their social life – an accomplishment that will help them with future family and career plans.
6. Scholarships provide ample support for college students
Winning a scholarship offers more than help with your financial situation when first-year students embark on their college journey. Many colleges provide ample support by offering mentorship to help students access the full benefits of college scholarships.
In addition, it places them in the best position to learn more about how the scholarship helps them. Furthermore, financial aid allows students to keep their focus and stay on top of their studies without financial concerns.
7. Scholarships ease the financial stress on parents and reduce student debt
Parents may dream of their child going to college, but if the family income isn’t sufficient, it adds additional financial stress. They may save for their child’s college, but it is usually not enough, and they end up using their mortgage to pay their child’s tuition.
Some fields of study are less expensive, but the financial burden is daunting without scholarships. According to recent data, a 4-year medical degree to become a doctor costs about $218.792. Depending on where the aspiring doctor studies, a medical school degree at a public college costs about $50.000 per year, and at a private medical school, almost $60.000 per year. In addition, prospective students need to complete their residency.
Many college graduates start their careers in debt paying off student loans. Unlike student loans, scholarships aren’t loans you need to pay back. Scholarships allow students to graduate debt-free or with marginal debt compared to many students.
8. Scholarships inspire students to foster connections and build professional networks
Scholarship recipients can connect with like-minded students and experts with the same interest. Therefore, it is very important to network with peers in the same field of study. The advantage is that a collaborative atmosphere develops that could last post-graduation; it becomes a collective learning experience among friends instead of a difficult competitive environment.
Professional networking is a great formula for life in the business and academic world. It grants collaboration in academic papers and research opportunities that otherwise would be difficult to initiate. Furthermore, after graduation, people often maintain contact in various industries. Therefore, having contacts already in that industry may be helpful when finding a job.
9. Scholarships motivate recipients to give back and help students in the future
Scholarships promote philanthropy; it’s just saying thanks and a way to give recognition for the opportunity you had. When you are at the receiving end, you will more likely become more philanthropic by supporting the college with donations or founding a nonprofit organization.
Another way to show appreciation is to take time as a volunteer for fundraising to help more learners who struggle financially but dream of an MBA or college education.
Are academics the main criteria, or are other types of scholarships available?
Scholarship committees are selective when choosing the perfect candidate for a merit-based scholarship. Although academic scholarships focus mainly on academic performance, there is a wide range of undergraduate scholarships where academics isn’t the main criteria.
A Full-Ride Scholarship
Full-ride scholarships cover all expenses, but only a small percentage of students are eligible for this type of scholarship. Research shows only 0.3% of full-time college students receive sufficient scholarships and grants to cover all their college costs. The numbers of full-ride private scholarships are even less.
Despite the rarity of a full-ride scholarship, there are plenty of amazing scholarship opportunities for undergraduate and postgraduate students to achieve their career goals. Instead of aiming for this smaller group of highly competitive scholarships, it is often easier for most people to focus on average academic performance scholarships.
Academic merit scholarships are typically awarded to accomplished students with exceptional academic achievement. Scholarship recipients of these prestigious scholarships receive renewable or one-time amounts based on various criteria, including grades, class rank, GPA, and test scores.
First In Family Scholarships
First-generation scholarships are opportunities for students first in their families to attend college. Criteria could include strong academic performance, need for finances, parents’ lack of a college degree, or the student is the first in the family to attend college.
Sports scholarships are highly competitive and available in almost every sport. Students who demonstrate high performance and outstanding sports talent can qualify for this type of merit scholarship. Scholarships in college athletics give students access to their college, university, or graduate school of choice.
Creative scholarships offer exciting opportunities for musical, dance, and artistically included students. College admissions often require students to submit a portfolio or perform an audition when applying for this type of scholarship funded by art colleges and public or private donors.
Financial aid for need-based scholarships is given to college students with a financial situation indicating their family income just isn’t enough to pay for college. Non-profit organizations, universities, colleges, corporations, institutions, and other groups offer need-based scholarship funds and grants.
The federal government gives grants, work-study, and loan need-based aid. To apply, students must fill out FAFSA (Free Application For Federal Student Aid) form.
More Top Scholarships For The College Sector
- Employer Scholarships encourage company employees to attend college or continue their studies.
- Career Specific Scholarships help students pursue specific professions, jobs, or careers.
- Scholarships For Women provide opportunities for female students.
- Scholarships For Minorities are based on different ethnic backgrounds, diversifying a specific workforce, or directed to students with a particular interest.
Why are scholarships important to you? As an aspiring college student, has this article helped you by explaining and covering the most meaningful insights of scholarships? You may think there is more time to consider, but when visiting college campuses, it’s time to practice writing scholarship essays.