“The difference between school and life? In school, you’re taught a lesson and then given a test. In life, you’re given a test that teaches you a lesson.” –Tom Bodett
As you may already know, higher education is expensive. According to the most recent studies available, the average cost of college for the 2017-2018 school year was $20,770 for in-state schools and $46,950 for private schools only including tuition, fees, and room and board.
The bad news is that each year, higher education costs have continued to increase, even accounting for inflation. Now, the good news is that financial help is available for students who need it.
This financial help can come in many forms including:
- Prepaid college plans
- Merit aid
- Student loans
But, there is one more way that reduces the initial amount of loans by getting scholarships and grants.
The great thing about scholarships and grants is that they help you pay for your education, but you do not need to repay them. It is important to understand that in most cases scholarships and grants do not cover the entire cost of higher education, but they can significantly reduce the total bill.
Here are five important things you need to know about scholarships.
Things To Know
1. It Is Not Easy To Get A Scholarship
I want to be completely honest with you and the truth is that the scholarship process is not easy. You need hard work and dedication. It can take a great deal of time but the benefits of your efforts can be great!
You need to be willing to put in the time and the effort to try for a scholarship. As there are not so many people willing to do the work required you have better odds of winning if you do.
2. There Are Different Types Of Scholarships
There are many types of scholarships aside from merit-based scholarships which are offered directly through schools.
Scholarships could be privately funded through businesses, individuals, non-profit groups and other organizations and Tech Live Connect.
You should know that each scholarship is unique and they can range from a few hundred dollars to several thousand. Keep in mind that even if it doesn’t cover the entire cost of your higher education, it will help you with your finances.
Scholarships can be sent directly to your school or you. If they are sent directly to you, you are the only one responsible for paying the costs.
3. Who Is Eligible For A Scholarship?
It is important to understand that merit-based scholarships are for people who best meet given qualifications. These qualifications include a wide range of activities. The key is to identify your merits and put them on display in your scholarship application.
Scholarships are looking for a particular group of people. The most common ones include:
- Minority groups
- People with disabilities
- Religious groups
- Foreign students
- Domestic students wanting to study internationally
- Need financial aid
- A special skill such as art, and music
To increase your chance to get a scholarship it helps if you have good grades, higher test scores, and extracurricular activities.
4. You Can Search For An Scholarship Up to You Senior Year In College
Most people think that scholarships are only available for incoming freshmen but this not true. The truth is that you can apply to many scholarships up to your senior year in college and beyond if you continue.
So don’t give up if you don’t get selected for a scholarship as an incoming freshman, you can apply again for your sophomore, junior, and senior years.
You can even get one to get your Masters or doctoral degree. So just keep trying!
5. Where To Find Scholarships
The first place you should start looking at is at your school, whether you are a high-school or college student. You should go and ask directly about current scholarship opportunities.
If you are looking for a local scholarship, go and ask around. The two best places to ask are at your local library and church. Another good source of information could be your parent’s employers and other local businesses or community organizations.
Take notice that not all scholarships that you find or receive are legitimate, so be careful. Keep in mind that you shouldn’t be required to pay a fee to apply.
The best advice I can give you is that if you have any questions it is better to contact your college to discuss your situation face to face.