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What are the advantages of having a scholarship?

April 02,2010 by: Maxim Thomas

A college or university scholarship is a big help to students to attain higher education, especially in today’s society where a college education is a necessity for success. There are thousands of scholarships available, and the financial aid they offer gives a huge advantage to the student and his or her parents. But being supported b the government in paying for one’s college costs are not the only benefits included.

Other advantages scholarships provide include the following,

  • Scholarships offer free money for colleges, and it is the main reason why students apply for it. With today’s rising costs of college tuition and other academic fees, having free financial support from the government means not having to be burdened of paying for the full costs of expenses.  
  • Unlike student loans, scholarships don’t have to be paid back. For students who have availed these loans, they would incur an estimated cost of $30, 000 during their college years and it would likely increase with each passing year. And the debt burden of having to pay back the loan is “horrendous: and would affect their credit score for the coming years if they miss payments.  
  • Applying for scholarships shows that the student has motivation and initiative, and colleges admire students who have the drive to succeed. Even when one had not been able to acquire the financial aid, colleges recognizes the student for being willing to put forth some extra effort.  
  • Having a scholarship distinguishes the student from his or her peers, and they are recognized for being able to be chosen for the privilege. This is especially true for students who have earn a merit-based scholarship, meaning that they have abilities and talents better than their colleagues. 
  • Finding and applying for scholarships involve researching skills, and students could improve that skill by finding among the literal thousands of scholarships available one that best suit their situation and needs.  
  • Scholarships could also help one to enter a selective university, especially with a merit-based scholarship. Most colleges and universities look for students who would be a positive contribution to their school, and having a scholarship confirms that.  
  • Academic institutions are not the only ones that recognize the student’s ability when they have a scholarship; it is also recognized by companies and corporations. Having a scholarship makes a graduate’s resume stand out, making his or her credentials easier to be noticed. Thus, it makes finding work after college easier.

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