Scholarship Myths

  • Scholarships are only for top scholars and athletes.
    o This is definitely false. There are so many scholarships that do not take grades or athletic ability/participation into consideration whatsoever and some, while they do consider average the minimum average might be 75% – 85% rather than 95%.
  • You have to be a great essay writer to get one.
    o Not so. Often, it is more about what you write than how well it is written. Whether you follow the instructions and address the essay question is often more crucial to your success than how eloquently you write.
  • You have to be a high school student to win a scholarship.
    o Many scholarships are for undergraduate students and those no longer in school at all. There are also scholarships for graduate students. You definitely don’t need to be in high school to qualify.
  • Most scholarship awards are small and not worth the effort of applying.
    o What is small? Every dollar you are awarded is a lot more than a dollar you save when you graduate and that money must be repaid with interest if you have to take out loans for 100% of your educational expenses.
  • Scholarship competition is too intense. It’s not worth bothering.
    o Sure there is competition. But so many of those applying don’t take the time to properly READ or FOLLOW THE RULES and answer the questions thoughtfully, or even correctly. Do everything correctly and you could be one of a small percentage of applicants who even gets considered. Break it down to hourly wage: spend 50 hours searching an applying for scholarships; you win two or three scholarships totaling about $2000; that is $40 per hour; plus you won’t have to pay it back with interest.
  • The scholarship application process is a one-time thing.
    o Not so. Each year, you need to look for money for the next and, as stated earlier, there is money out there for all of you (high school, college, undergraduate, graduate, etc). It is worth searching as soon as possible.
  • Source: http://www.scholarships.com/financial-aid/college-scholarships/scholarship-information/scholarship-myths/