And repeating the process this year also provides experience to build in next year, and the one after that, and so on. It does get easier as you move forward.
Most students and parents assume scholarship awards are sent directly to the college or university that will be attended. While some scholarships do work that way especially institutional scholarships , a significant portion actually sends the money directly to the student who won. For some students, this can feel a bit intimidating, especially if this is the most money that has entered a bank account with their name on it. Instead, just send or bring a check or cash, or debit card to the school for the tuition, and everything will be set.
But, why would a scholarship choose to send the money to the student in the first place? Because it provides the winner some flexibility. And that flexibility applies directly to our next point. Sure, some scholarships are restricted to tuition only, but many can be used for other school-related expenses. One of the most common secondary uses is other mandatory costs. Things like textbooks and required software can be incredibly expensive, but they are necessary to get through the classes.
Scholarships that allow some spending flexibility are designed to make these costs more manageable as well. You might not leave your locality for all of your life, all other things being equal. International scholarships help you meet new people and cultures from across the globe in order for you to learn and gain exposure as well.
For example, as an Asian or African student, you can get to visit and study in United States of America or Europe via a scholarship. This is an event that is capable of changing your worldview and life forever. Why is a scholarship important? Higher education is quite costly wherever you are in the world, and the truth is higher education increases your chances of a better life significantly.
Scholarships represent a great opportunity to close the gap between your higher education budget and increasing tuition fees. Surely there is a scholarship out there that you are eligible for. A scholarship is essential because it can help you achieve your higher education goals with less stress.
Most families might not be able to send their children to higher institutions but a scholarship can make higher education possible for anyone who meets the specific eligibility criteria.
A scholarship can also open up other opportunities. But scholarships do carry some advantages. One perk is that they make students much more attractive to universities. Money that you bring in as a student means less money that your school actually has to allocate to pay for you to study and live there. These days, it's impossible for most financial aid programs to offer support for all students.
Schools everywhere in this economy are strapped for cash, slashing budgets and reducing services left and right, so any extra money that comes in from scholarships takes some of the pressure off. For every student who brings in money on a scholarship, the money that would have gone to them whether through loans or need-based financial aid can be spent on funding other students' educations.
One of the most difficult aspects of obtaining scholarships is that it's hard to find a way to track them down. It's all well and good if a benevolent billionaire is offering up a fully paid scholarship to a talented young bagpipe player and you just happen to be the fastest bagpiper west of the Mississippi, but how are you supposed to know about it? You learn about most scholarships the same way that humans have been finding out information since the Stone Age -- by asking around.
It's crude, it's blunt and it takes a little bit of effort, but walking up to a guidance counselor or coach and saying, "Hey, do you know anybody who'll give me some money for college? Guidance counselors and coaches will also know more about local scholarships, the kind that are either too small or too specific to show up in financial aid handbooks or online. Finally, scholarship-seekers can never go wrong with the Internet, and there are a few highly reliable free search sites for tracking down scholarship material:.
One thing that all scholarship searchers have to be on the lookout for is fake scholarships. With so much on the line, it's fairly easy to come up with a scam to lure trusting or desperate parents and students. Be wary of any organization or scholarship search service that guarantees acceptance, lacks sufficient contact information or requires suspicious fees. Sign up for our Newsletter! Mobile Newsletter banner close. Mobile Newsletter chat close. Mobile Newsletter chat dots. Mobile Newsletter chat avatar.
Mobile Newsletter chat subscribe. Personal Finance. Planning for College. Financial Aid. Types of Financial Aid. How Scholarships Work. Scholarships help pay the way toward your college education. See more investing pictures. Individual Scholarships Not all scholarships are directed at the overachiever who's a star football player and earns a perfect SAT score.
Regardless of whether you excel in academics, you should be able to find several scholarships that work for you. There are even scholarships intended for students living in a particular state or town. You can continue to apply for scholarships during your college years all the way up to Ph.
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