With only 0.3% of students getting a fully-funded scholarship in the United States, it’s indubitable that the odds are pretty narrow. However, this should not discourage you from applying for financial aid. In this article, we discuss 5 amazing benefits of scholarships.
1. Scholarships facilitate easier access to education
Studying abroad, especially in countries like the United States, United Kingdom, Canada, and Australia can be quite expensive. If you are an academically sound student from a not-so-wealthy background, it may seem impossible or challenging to access higher education. This is therefore one of the essential answers to the burning issue: what are the benefits of scholarships?
Your education should not have to be limited because of low household income. There are a lot of need-based scholarship programs for academically talented students who are passionate about advancing in their level of education. All you have to do is search online for the available opportunities and submit your scholarship application.
2. No need for a part-time job
Government statistics have revealed that almost 50% of all undergraduate students are working a part-time job so as to finance their academics and costs of living. While it’s not necessarily a bad thing to get a job while studying, it can however be a distraction that affects the quality of your academic performance. Winning a scholarship will save from making this compromise that several university students have to make in this regard.
3. Scholarships boost the quality of your resume/CV
Another remarkable benefit of winning a scholarship is that it boosts your resume after school. Applying for jobs with scholarships on your curriculum vitae shows that you’ve always been working hard to achieve merits. After all, if an institution sees fit to pick you over thousands of other candidates, why won’t an employer do likewise?
4. Scholarships promote philanthropy
It’s a common belief that winning a scholarship tends to change a person’s approach to life. As an individual who has been assisted by a scholarship/donation, you may decide to reciprocate the gesture by giving back to society. Many scholarship beneficiaries have gone on to establish their own scholarship foundation or endow institutions with charitable donations. It is hoped that scholarships, therefore, produce responsible individuals who are passionate about giving back to society in one way or the other.
5. Scholarships provide access to more college options
Even though you aren’t from a less-privileged or poor background, there may be certain institutions that are just off-limits. For instance, most Ivy League colleges will leave you struggling with huge college debts, if you choose to sponsor your studies by yourself. Thus, one of the great benefits of scholarships is that you can gain access to the very best education in the world, without being saddled with six figures debt.
In all, the benefits of scholarships are immense and will make it well worthwhile to apply for them. Hopefully, you’ll get a full-ride scholarship!