Myth: You need to be fi nancially destitute to be eligible to apply for scholarships.
Busted: While it is true that fi nancial need is a consideration for some scholarships, the definition of “need” varies considerably. Given the cost of a college education, many families who consider themselves to be “middle class” actually qualify for some need-based scholarships. In addition, there are many scholarships where financial need is not even a factor. These “merit-based” scholarships are based on achievements, skills, career goals, family background and a host of other considerations that have nothing to do with a family’s financial situation. You could actually be the son or daughter of Donald Trump and still win a “merit-based” scholarship.
Myth: You can only win scholarships as a high school senior.
Busted: It is never too early or too late to apply for scholarships. There are awards for students as young as seventh grade. If you win, the money is usually held in an account until it is time for you to actually go to college. But even if there are not as many awards for younger students as there are for seniors, it doesn’t mean it’s not important to look. Finding awards that you can apply for next year or even two years from now is a huge advantage. Keep a list of these awards since you are going to be super busy as a senior (think college apps and AP classes!) and you are going to be so thankful when you can just refer to your fi le of previously found awards and don’t have to spend time searching. At the same time, you also don’t want to stop applying for scholarships after you graduate from high school. There are many awards for college students. Once you are in college, you should continue to apply for scholarships, especially those geared toward specific majors and careers.
Myth: Only star athletes get college scholarships.
Busted: While star running backs receiving full-tuition scholarships are often what make the news, the majority of scholarships awarded by colleges are not for athletics. As you will see in this book, there are literally thousands of scholarships for those of us who don’t know the difference between a touchdown and a touchback. Even if you are an athlete, you might also be surprised to know that many colleges give scholarships to student athletes who may not be destined to become the next Michael Jordan. The needs of a college’s athletic program depend on the level of their competition. You may find that at one college your soccer skill wouldn’t earn you a place on the team as a bench warmer; but at another school, you might not only be a starter but also earn a half-tuition scholarship.
Myth: You need straight A’s to win money for college.
Busted: While straight A’s certainly don’t hurt, most students mistakenly assume that grades are the primary determinate for selecting scholarship winners.
This is just not true. Most scholarships are based on criteria other than grades and reward specific skills or talents such as linguistic, athletic or artistic ability. Even for scholarships in which grades are considered, GPAs are often not the most important factor. What’s more relevant is that you best match the qualities the scholarship committee seeks. Don’t let the lack of a perfect transcript prevent you from applying for scholarships.
Myth: You should get involved in as many extracurricular activities as possible to win a scholarship.
Busted: Scholarship competitions are not pie eating contests where you win through volume. They are more like baking contests in which you create an exquisite dessert with an appearance and flavor that matches the tastes of the judges. Scholarships are won by quality, not quantity. Scholarship judges are looking for students who have made quality contributions. For example, for a public service scholarship, the judges would be more impressed if you organized a school-wide volunteer day than if you were a member of 20 volunteer
organizations but did little to distinguish yourself in any one of them.
Myth: If you qualify for fi nancial aid, you don’t need to apply for scholarships.
Busted: Financial aid and scholarships are not mutually exclusive but complimentary.
You need to do both—apply for fi nancial aid and scholarships at the same time! Relying only on financial aid is dangerous. First, financial aid is “need based” which means if you’re a middle or upper middle class family, you may not receive any free money (i.e. grants) but only student loans which you need to pay back. Even if you do qualify for grants, it may not be enough. The maximum Pell Grant, for example, is $4,050 per year,
which is still far short of what tuition plus room and board costs at most schools. While financial aid is important, we consider scholarships to be far superior. With few, if any, strings attached, scholarships represent free cash that does not have to be paid back and which you can use at almost any school. Best of all, you can win scholarships regardless of your family’s income!
Myth: You should apply to every scholarship that you find.
Busted: When you turn 35, you technically are eligible to run for President of the United States. This hardly means you should start packing your bags for the White House. Let’s apply that same logic to scholarships. Just because you are technically eligible for a scholarship does not mean you should start filling out the paperwork for it. Why? You have a limited amount of time to spend on scholarship applications. It is necessary to allocate your time to those that you have the best chance of winning. You may find that you are eligible for 500 scholarships. Unless you’re willing to make applying to scholarships your full-time avocation, it’s unlikely that you can apply for more than several dozen awards. Thus, you need to be selective about which scholarships fit you the best. One caveat: This does not mean that you should only apply to two
or three scholarships. You should still apply to as many scholarships as you can—just make sure you have them prioritized.
How a Solid Scholarship Strategy Helps Win You Money Back in high school, Kelly applied for a scholarship from her father’s employer. She was confident she would win since academically she had both
high grades and test scores—which she diligently listed on the application. After turning in her application, she eagerly waited for the check to arrive.
But the check never came. In fact, when Kelly found out who did win, she was surprised to learn that he had lower grades and lower test scores. What happened? How did this guy win instead of Kelly?
The answer was that Kelly relied solely on grades and test scores to win while the other applicant clearly used the entire application to stand out. That was when Kelly learned the importance of having a strategy.
So what does it take to win a scholarship?
The answer is that scholarship winners are not superstars. Rather, they are the students who have prepared—those young men and women that have invested the time to create applications that highlight their strengths. It’s really sad to see students who don’t apply for scholarships because they mistakenly assume that they don’t have a chance to win.
Unlike a lottery, scholarships are not based on luck. To win scholarships, you need to show the scholarship judges how you fit the award. Often this is through the scholarship application, essay and interview. In fact, almost all scholarship competitions come down to one key factor—how well you can show that you fi t the purpose of the scholarship. In this respect, you have power over the outcome. Through what you choose to highlight (and ignore) in the scholarship application, you are able to construct a case for why you
deserve to win.
Read More : Common Scholarship Myths
