Did you know that in 2020, 58% of families used scholarships to help pay for their student’s college? These awards are an amazing way to help fund education, build confidence, and do so much more for their recipient. Begin applying early for the best chances of earning awards!
Though earning scholarships can be an amazing achievement, many fail to apply. People feel it is a lot of work with not enough benefit.
However, using your academic excellence to earn scholar awards can be an excellent tool to fuel your success. Read on to learn some of the benefits of scholar awards.
Scholarships Provide Financial Support
This first benefit is perhaps the most obvious. Earning money towards college tuition offers support by lessening the burden that paying for school can bring. The average student loan debt in the United States is $32,731 but can be much higher depending on the situation.In that case, students should use the student loan payoff calculator to determine how much their loan is and how long it will take them to repay it. Even shaving a few thousand dollars of debt can make a big difference for students.
Some students choose to attend a less expensive community college. This lets them pay as they are attending school. Having a scholarship can help mitigate day-to-day expenses, and improve the quality of life for students in this situation.
Are you looking to get a scholarship, but unsure of where to find great opportunities? The Golden Key Honor Society is a prestigious organization that awards scholarships and other opportunities to high-achieving students. This large organization has over 400 chapters at colleges and universities.
TheScholar Awards Are a Great Networking Opportunity
In addition to the financial benefit, earning academic scholarships can introduce students to fabulous networking opportunities. Many scholarship programs also provide mentorship opportunities. This is where an organization works with students to develop their career goals.
Other scholarships have a large community of recipients throughout the years then a person who earns an award can connect with. Some have celebratory dinners that bring past and present recipients together. This provides an excellent opportunity for students to receive scholarships to network and forges their academic path.
Scholar Awards Help to Boost Confidence
Receiving an award recognizing a student’s success helps to boost their confidence. It validates their achievements. Knowing that someone else thinks they are doing great things can help a student to believe in themselves and strive for big things.
When it comes to academics, confidence is half the battle in succeeding. Having an organization say that they believe in a student so much that they will help to sponsor their education is an amazing feeling.
Imposter syndrome is a struggle during many people’s college careers. They wonder whether they are suitable to be in that highly academic environment. Winning a scholarship during this period of self-doubt may be just what they need to get a spring in their step and continue persevering.
Scholar Awards Are a Great Addition to Your Resume
Once a student begins their college journey, they will craft a professional resume. This will be used for opportunities during school, as well as jobs/internships outside of classes. Being able to list a scholarship under the ‘awards’ section of a resume is an excellent distinction.
Let’s say you list the ‘Presidential Scholar Award’ on your resume, and a job recruiter is impressed. This is an excellent talking point to highlight your achievements. Having another organization agree that you are a top candidate will help you in the job search because it shows you are likely to work hard and succeed.
When students are younger in their college years, a resume can be sparse if they have not done many notable achievements to fill it. Adding a scholarship is something they can be proud of, it is also great content to discuss during an interview.
You Can Avoid Working During College
Many students are forced to have a part-time job during their time at a university. Whether to pay for tuition, books, rent, or food, having an extra stream of income is often necessary.
However, students working excessive hours are at a disadvantage from their counterparts that are only in school. While working, they are missing out on extracurricular opportunities, building valuable friendships, and finding passions they may carry with them outside of college.
Having a great scholarship can allow a student to not work during college. This is an amazing benefit that can provide a better experience. Also, having more time to focus academically may mean a higher GPA. This leads to better-paying job opportunities upon graduation.
Develop an Interest in Philanthropy
Scholarships recognize academic excellence and are often given by philanthropic organizations. These groups want to support the success of their communities. Students that receive them benefit from this generosity, and may want to give back themselves once they reach success.
Introducing a student to the world of giving by giving them a financial award can inspire them to give back.
We Wish You Luck on Your Scholarship Journey
Thank you for joining us and learning about the benefits of scholar awards! We hope this helped you to understand what they can do for your academic journey, and how they can help you to be financially free post-college. The best thing for scholarships is to get your name out early and often. This gives you the best chance to earn awards that will finance your education.
For more articles like this, check out our finance section for tips about how you can manage your money while getting a great education.