Education,  For The Love Of...

Importance of Scholarships in your Life

Scholarships are meant to award the academic achievements and development of a student. When you start your career or go to high school to develop new skills, getting a scholarship is a massive achievement. Nancy Etz scholarship is among the top-rated scholarships, meant to encourage students pursuing higher education. Specific attention is being paid to young professionals, who just started their career as workers, by speaking about the financial benefits.

This scholarship can reveal many educational and employment opportunities to students.  The Nancy Etz scholarship is awarded to students who are currently enrolled as graduate students or full-graduate students within the United States.

Why do you need a scholarship.

  1. High Fees of colleges

Fees for college are increasing. After 2000, public four-year fees and tuition are increasing by more than 5% per annum above inflation. The tuition at private four-year college and public two-year college have also been increased by up to 3% above the rates of inflation.  This type of an increase can be difficult to keep pace with.

An increase in the cost of college has highlighted the importance of scholarships allowing so many students to pursue higher education that may otherwise not have been able to. The scholarships like Nancy Etz play a very important role in helping students meet their academic goals which will eventually help to make them very productive members of society.

  1.   Economic Issues

Problems related to the economy are real and your parents are also suffering from it.  In some cases parents are not in a position to help their children pursue higher education – though they may desperately want it for the children.  Every parent wants their children to be happy and to pursue what they would like to in college and careers.  Scholarships are an excellent way to still achieve this goal.

A report conducted by Gallup and commissioned by Lender Sallie Mae revealed that the percentage of parents who are planning to cover more than 50% of the fees has reduced and college costs of children have risen.

Another survey indicated that 33% of the parents are planning to contribute less than $5000 to the college tuition of their children.  

As a parent myself I know how difficult it can be.  We have been fortunate but I have watched so many students (my husband and I both work in public school districts) go to college and leave with so much debt they will need to make a six figure income straight out of school just to pay that debt off.  What chance do they have to succeed?

  1.   The state is no longer supporting students 

The gradual decrease in state support for students is among some of the main factors which highlight the importance of scholarships. Although it seems that the United States may have withstood some of the worst financial crisis conditions, many other nations are still lagging behind in the economic slump.

These nations many have made significant changes in public assistance, particularly higher education.  Students have to pay more for their studies now due to this decrease in public assistance.

  1.   High debts and Loans

People all over the world owe a lot of money for higher education. More than 70 million people in the U.S are suffering from student loan debt of around $700 billion, even with the potential to refinance their student loans at a lower rate. This amount is significantly increasing and indicates that the scholarships should be among the basic needs and priorities of students. The average graduates owe a debt of $24,000 in student loans after graduation.  Keep in mind that is the average while many owe significantly more than that.

When I graduated college I had no students loans left to pay.  I was fortunate BUT I had to spread my college education out as I could afford it.  My husband through a BA, MBA, 6th Year Certificate and more is still paying student loans in his 50s.  When you go to college you don’t anticipate spending your full adult life paying off college debt.

  1.   Appreciation 

Earning scholarships throughout your college career will boost your confidence and earn a lot of respect in the eyes of others as well as a sense of pride in your own accomplishments.

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