Myths About Private Scholarships

There are many myths about private scholarships and the benefits of winning scholarships. These myths cause students to underestimate their eligibility for scholarships, discouraging them from applying for scholarships. Scholarships are part of the plan for paying for college, not the entire plan. But scholarships can help reduce the student’s debt and work burden, saving some money on college costs.

1.     My child won’t get a scholarship(s) because there is too much competition. Not true

2.     Only students with the best grades win scholarships. Not true.

3.     Searching scholarship starts during the senior year in high school. Start in your junior year

4.     Scholarships will pay for every portion of college. Not true. Very few students win a completely free ride each year.

5.     The Scholarship process is a one-time thing. If I don’t get one the first time I will never get it. Not true

6.     Scholarship applications take too long to complete. False, many don’t. Through the first few scholarship applications, the amount of work for each additional application is reduced, since students can reuse and adapt previous application essays.

7.     Merit-based scholarships are only awarded to students with high GPAs. Not true, Students with better grades are more likely to win scholarships, but B and C students do win some.

8.     A large amount of scholarship money goes unclaimed. False. Very few private scholarships ever go unclaimed. The scholarships that sometimes go unclaimed do so because they can’t be claimed.

9.     Scholarships are just for poor students that could not otherwise afford to go to college. Not true, middle-income students are more likely to win private scholarships than low-income or upper-income students.

10.  Colleges Reduce Need-Based Aid When You Win Scholarships. Maybe, but Colleges do cut need-based aid when a student is over-awarded, but many will use the private scholarship to reduce the student’s debt and work burden, saving the student some money.

11.  Many scholarship amounts are too small and not worth the time. Maybe. However, what if you retain 5-10 scholarships.                                                          

12.  Only athletes win scholarships. False. Students are much more likely to win private scholarships than athletic scholarships.

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