Top Scholarship Myths

scholarship myths

 

These are some scholarship myths I hear frequently in my role as an independent college admissions counselor:

Scholarship Myth #1: Everyone has a scholarship.

This is not true. Most money comes from the college itself in the form of grants or loans. Most people do not apply or use scholarship money. Schools often use the word “scholarship” in reference to many different things, even things like a “tuition discount.” Beware of the use of the word “scholarship.”

Scholarship Myth #2: You should only apply for the big money scholarships because little amounts will make no difference.

This is not true because most people do not get the big money awards.  There is simply too much competition for the big awards. Most students who win scholarships are winning small, local awards which can help offset the cost of books, transportation etc. Winning a few small scholarships can add up to big money. Usually it’s the small awards from the local Kiwanis club or your parent’s place of work where a student has the best chance of winning an award.

Scholarship Myth #3: Scholarship money will reduce what I need to pay for college.

This is not always true. Some schools will use scholarship money to offset the money they are giving to the student in the way of financial aid.  So, the student still pays the same price but the school uses the money as part of the financial aid package they are giving the student.

Scholarship Myth #4: Scholarships are only for students with straight A’s or who excel in sports.

This is untrue because there are all sorts of scholarships out there for things like having red hair or being from a certain region.  If you look a bit at the scholarship sites, like Scholarship.com, Scholly and Fastweb, you will see a wide variety of scholarships that have nothing to do with merit or skills.

Scholarship Myth #5: A student has to pay an application fee for a scholarship.

This is a huge scam!  Never pay for a scholarship application!

Scholarship Myth #6: Scholarships only come from outside sources.

This is untrue because colleges have money to give.  They get donors who give them money for particular types of students.  The colleges then match applicants to the donations, if there are stipulations given.

If you want to talk more about scholarships, contact our offices today!  We will assist you in finding potential scholarships to apply to and working on all pieces of the scholarship applications. Our Academic team offers a complimentary consultation for families of college bound students. Click here to schedule now!