Scholarships that assist or cover costs of pursuing a higher education provide a number of benefits for recipients which mainly include students. From reducing the financial burden of the rising costs of a college education, to allowing students more time and energy to focus on studies rather than part-time work, scholarships are one piece in the puzzle of what creates a strong foundation for supporting students in their success in pursuing a degree, and furthermore, completing that degree and making a life for themselves and their loved ones. Though there are numerous impacts of a scholarships on a students life but here I am listing a few.
Scholarships help to lessen the impact of rising tuition costs.
Tuition is on the rise nation-wide and scholarships give access to higher education for students of all income levels. Without scholarships it gets basically very tough for a student to sustain all the needs while staying at the top of everything and managing personal finances
Scholarships help students have more time to focus on their studies.
Research shows that work can take up more than 15 hours per week and becomes an impediment to academic success. For many students the stresses of working make it difficult for them to graduate on time, or graduate with the high grades they have the potential to achieve. For other students, the work/study life is unsustainable, and they discontinue their studies all together.
Scholarships decrease the number and amount of loans students need to take to complete higher education.
Two-thirds of college students now graduate with loans, and their average college debt is nearly a lot — an increase of more than 50% since the early 90’s. People involved in shaping public policy and allocating funds often view loans and grants on the same level as “aid”.
Scholarships add to federal and state financial assistance.
Many students do not in general qualify for federal aid as federal policy has long been focused on access for low-income students and specifically cater to only those. States and colleges have become increasingly focused on getting high-income, high-achieving students to attend their institutions or to remain in-state.
Scholarships can fill the gap.
Scholarship assistance can support students who fall in the gap between high and low income levels ( which gets the most difficult to manage)— students who may not qualify for a need based scholarship and who do not meet the criteria for a merit based scholarship.
Scholarships teach philanthropy.
By being the student recipient of a scholarship, it is hoped that the students will become philanthropic themselves and “give back” when they are financially able.
I’m sure a lot of people would be able to relate to this. I would also like to take an opportunity ti inroduce some amazing scholarships that you can check out.
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