Discover 3 Common Misconceptions About Scholarships

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If you are looking for financial aid many students consider “Scholarship”, which is the money that is free and provided by private and government sectors for students who meet qualifications. A lot of misconceptions and misinformation about scholarships circulate around the hallways of high school and parents of students preparing to attend college, which causes them to put all their time and energy searching for these grants and forget other sources of financial aid which are much more plentiful than the scholarships.

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Before you decide to start looking and be a winner of the cash prizes such as scholarships, it is important to know what is the real meaning behind these myths so that you don’t get fooled by these falsehoods. Here are three common misconceptions regarding scholarships:

Myths #1 Millions of dollars’ worth of scholarships money is not claimed

One of the most common misconceptions about scholarships is that billions of dollars worth of scholarship funds are not claimed each year, waiting for a smart person like you show up and grab it. This myth is likely to be caused by a specific marketing campaign that could be a scam are used in their efforts to convince you to give your money to them.

The reality, as per the majority of financial aid programs offered by colleges is that the majority of available scholarship funds are handed out every year. Some scholarships aren’t granted to applicants who don’t meet qualifications. These unclaimed scholarships comprise only a tiny portion of the total amount of scholarships handed to each year. the scholarships that are not able to be granted usually are extremely restrictive in their criteria for eligibility.

It is possible to hear that 75 percent of all financial aid was not claimed this year. However, this number is not a reference to scholarships in any way. What it actually refers is tuition assistance that is provided by the employer to its employees.

Myths # 2 The scholarship program provides a free ride to colleges.

Many students think that scholarships are the most important award that will give you the opportunity to attend college for free. If you believe that you will be able to get a scholarship you’ll pay less for your collegetuition, you’re wrong. Your winning scholarships won’t reduce your the EFC (Expected Family Contribution) which is also known as EPC, EPC remain and the award is added to your financial aid total you already have received, and the same amount of assistance from other sources will be subtracted. Furthermore, the amount of scholarships awarded tend to be small, usually less than $1,000. You may not be able to extend the award for the entire four years of your college.

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There are several programs that cover your tuition in full however the competition for the most lucrative prizes is will be fierce. These awards are typically given to those who have the highest qualification. Even if you’ve got the top grades and the highest marks but you aren’t guaranteed on receiving a full tuition scholarship or even a scholarship. Your classmates may have a higher reputation for community service than you do, or have more than a few years of leadership experience. It is possible to submit an application to these applications for scholarships however, you must set up alternative financial aid options to help you study in the event that you are not able to get an award that is full tuition.

Misconceptions # 3: Scholarships Only Go to The Best

Many students do not take advantage of their chance to be considered for scholarships due to the belief they’re not good enough, and have no chance to be awarded the scholarship. Although it is true that the most prestigious awarding of scholarships goes to athletes and academic all-stars these are only tiny fraction of the scholarships which are open to applicants. The majority of scholarships are awarded based on certain criteria like the subject you are studying, your area of residence, if you are a member of a the minority group, female or possess particular talents, etc. If you aren’t eligible for national scholarships or for the enormous athletic awards, but you could be able to find a lesser scholarships with less restrictive eligibility requirements if you unique to be eligible for the program.

In Summary

The scholarship is only one kind of financial aid; there are other options that can help you receive money to help fund your college studies. Don’t fall for the notion that there are billions of dollars worth of in scholarships that are not claimed because the majority of the scholarships are not made available for claim. This isn’t the case. all scholarships will be awarded to the top, but there’s an opportunity for you to win a scholarship. Continue to search for scholarship opportunities; don’t stop even if you do your best to look for it.

Amelia Turner, an educational article writer for [] You can find more details information and free resources about online education, student financial aid

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information that can help you to make decision to earn your degree online.

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