When searching for financial aids, most students will think of "Scholarship", which is the free money sponsored by government and private sectors to students who meet their eligibility requirements. Many myths and misunderstanding about scholarships get passed around the halls of high schools and among the parents of students getting ready to go to college, causing them to focus too much energy on searching for these awards and get ignore on other financial aids sources which are more abundant than scholarships.
Before you start to search and win the free money: scholarships, you should understand the truth behind these misconceptions so you will not be taken in by them. Here are 3 of the common misconceptions about scholarships:
Misconceptions # 1: Billions of dollars' worth of scholarship money goes unclaimed
Among the biggest myth about scholarship is that billions of dollars' worth of scholarship money goes unclaimed each year, just waiting for a savvy student like you to come along and scoop it up. This misconception is potentially cause by certain marketing activities campaign conducted by potential scams which they use in an effort to get you to hand over your money to them.
The truth, according to most college financial aids offers, is that almost all available scholarship money is given out each year. There are some scholarships not awarded usually due to applicants who apply for those scholarships are not meeting the eligibility requirements. But these unclaimed scholarships are just a small percentage of the total scholarships given out each year, and those scholarships which are failed to be awarded usually have highly restrictive eligibility requirements.
You may hear about 75 percent of all private financial aid went unclaimed last year. The fact is this figure does not refer to scholarships at all. What is actually refers to is tuition assistance offered by companies to their employees.
Misconceptions # 2: Scholarships provides free ride to college
Many students believe that scholarships are the largest awards that can provide a free ride to college. If you think that by winning a scholarship, you will pay less for your college, you are wrong; your winning scholarships will not reduce EFC (Expected Family Contribution), in other word, EPC remain and the winning scholarship will be added into the total amount of financial aid that you have already received and an equal amount of aid from other sources is subtracted. In additional, scholarship awards are typically small, often under $1,000 and you may not even be able to renew the scholarship for all four years of college.
There are a few scholarship programs pay for your full tuition fee, but competition for the biggest prizes definitely fierce and these scholarships typically go to students with the best possible qualifications. Even you have the best grades and the highest score, you may not count on winning a full-tuition scholarship, your peers may have a better community service record than you, or more leadership experience. You may submit your application for these scholarships applications, but you need to put in place other financial aid alternatives to support your study if you fail to win a full-tuition scholarship.
Misconceptions # 3: Scholarships Only Go to The Best
Many students miss their chances to apply for a scholarship because they think that they are not the best, and they have no hope to win a scholarship. While it is true that the largest scholarship awards go to the academic and athletic all-stars, those make up only a very small percentage of all the scholarship programs that open to you. Most programs are awarded based on specific requirements such as your major, your place of living, whether you are from minority group, you are a woman or you have a specific talent & etc. So you may not qualify for the national scholarships or the huge athletic awards, you may easily find a smaller scholarship with more restricted eligibility requirements where you are uniquely fit into it.
In Summary
Scholarship is just one type of financial aids; there are still other alternative sources available where you can find money to support your college study. Don't be taken by the myth that there are billions of dollars unclaimed scholarships available because most of scholarship offers are claimed. The fact shows that not all scholarships go for the best, there is a scholarship waiting you somewhere. Keep hunting for those scholarships; don't give up before you put your effort to search for it.
Related Articles
Discover How Online Scholarship Scams Cheat your Money
By: Jullie Harvard | 22/08/2007 | Education
Most students who are planning to go to college will try to win a scholarship to fund their study. There are so many students are competing to win those scholarship dollars, scholarship scams have become a booming business. Scholarship scams use various techniques to make you hand over your money to them without giving you any "scholarship." Discover the common techniques used by online scholarship scams will help you to avoid being cheated by those scholarship scams.
5 Resources to Find Scholarships Specially Dedicated for Women
By: Amelia Turner | 26/08/2007 | Education
Most of scholarship programs are opened for both genders, but there are many scholarships reserved exclusively for either male or female students. In fact, far more scholarships are available just for women than just for men. If you are a female student, don’t miss your chance to apply these scholarships which dedicated exclusive for you. Here are 5 resources to help you find these “Female only” scholarship programs.
How to Find Free College Grant Money
By: Jon Arnold | 11/03/2007 | Education
College is expensive but there is no reason you should fund it out of your own pocket. While a student loan needs to be paid back, neither college grants nor college scholarships need to be paid back, and there are a ton of these going un-awarded each year because nobody applied for them!
Types of Student Loans
By: Evelyn Saunders | 14/01/2008 | Loans
In the market for student loans? Need it explained in plain English? Let http://www.student-loans.net help you determine which type may be best for you.
Scholarship Programs: 3 Steps To Winning More Awards
By: Kevin Ihrig | 02/04/2008 | College and University
Looking for more college money from scholarship programs? You can learn a few basics of scholarships here, and start on your way to more awards and fewer loans.
Financial Aid Resources for Nursing Students
By: Amelia Turner | 01/07/2007 | Education
Like other degree’s students, many nursing students always looking for some resources to get their education funded either through scholarship or education loan. This article will points out some of the financial aid resources where nursing students can get help to fund their study in nursing major.
4 Tips to Find Scholarships Online
By: Amelia Turner | 07/08/2007 | Online Education
Paying for college has become increasingly more difficult, as the college tuition fees have increased faster than the rise of inflation. At the same time financial aids from traditional sources such as federal government and the schools have dwindled. Hence, winning a scholarship from private sources has become an important way for college and graduate students to make up the different. This article will outlines some tips that can help you to find the scholarships you are qualified for using th
Tips for Applying Financial Aids to Fund your Education
By: Jullie Harvard | 12/08/2007 | Education
Looking for financial aid to fund your study? If you plan to go to college or graduate school, you should apply for financial aid; even you don't think you will qualify. Although financial aid just pays for only a small part of the tuition fee, it is still money that your family doesn't have to pay out from their pocket. Applying for financial aid shouldn't be that complicated, here are some tips to guide you.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Why did Liz Murray quit Harvard?
By: Noah | 14-05-2008
Why did Liz Murray quit Harvard? Wouldn't Harvard have been the best thing that has happened to her?Does anyone know where she is today?
Help need roof fixed
By: BEACHBUMALWAYS | 10-05-2008
Are there any places where i can apply or call to ask for help to get my roof replaced through a grant or something similiar, i am a single mom 2 kids, going to college,low income, roof leaks in 4 rooms,help
Hope Scholarship and books over the summer.
By: inquisitive1989 | 09-05-2008
Does the Hope Scholarship pay for books over the summer ?Does it matter if it already paid for books the year before the summer in question?
Personal Case
By: AnonymousMiss | 08-05-2008
I am attempting to sue a former friend for a student loan in my name. I have proof of a contract not signed, i have witness and i have proof that there was a verbal agreement(that they would be responsible for paying it all back, so to speak. I know my case is solid without a signature on the contract and was wondering, what category of civil law this falls under. How do i find a lawyer and approximately how much will this cost me? I would also like my court costs to be paid by the person I'm suing once i win.How do i go about all of this?
How do i maximize from a debt consolidation loan
By: matteoandian | 20-04-2008
how do i maximize from a debt consolidation loan
I received a Cal Grant, but I am transferring to a ...
By: mb0285 | 18-04-2008
I received a Cal Grant, but I am transferring to a university in Texas. they said to go to a website to transfer those numbers, but I cannot find it. How do I transfer a cal grant to a texas grant?
Q&A Powered by:
Latest Education Articles
How To Make Online Education Work For You
By: Tony Jacowski | 16/05/2008
Whether you are looking forward to joining that lucrative tech firm by increasing your credentials, or in a mid-life career change, getting an advanced degree or diploma online can lead you closer toward your goals.
Math Education: A Challenge And A Joy
By: Ann Knapp | 16/05/2008
Don't worry about your difficulties with math, Albert Einstein is said to have told a schoolgirl who wrote to him to lament her lack of success in the subject - "Mine," he wrote, "are still greater."
The Different Types Of Greek Helmets
By: John Hilde | 15/05/2008
Ancient Greek war helmets are some of the most recognizable in the historic war machines. The term "Greek helmets" is quite broad. There is really no one helmet that signifies the Greek culture. Trojan helmets, Spartan helmets, and Corinthian helmets are all under the heading of Greek helmets. In the...
The Stress Of Modern Living Propels Ancient Science Into Limelight
By: Helen Thomas | 15/05/2008
In order to fully appreciate the powerful role of Ayurveda in restoring health, you need to understand how it helps you handle stress, which is at the root of many ailments big and small. Dr. Hans Selye, the pioneering researcher who practically invented the concept of stress, defined it rather...
Why Instructors Are Concerned About Plagiarism
By: Phil Forp | 15/05/2008
In order to understand plagiarism, it is worthwhile to understand and respect the process of sharing and creating new ideas in the university setting. First, it should be understood that all knowledge is built from previous knowledge. Very little that we do within the world of academics or business would...
How to Use School Laminators
By: Adriana Scarlet | 15/05/2008
This article tells how the people have to use special tool – laminators.
Yissum And Technology Transfer At The Hebrew University Of Jerusalem
By: Mary Waltrip | 15/05/2008
Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem, aims to promote the transfer of Hebrew University technology for the benefit of society, while maximizing returns to support research, education and scientific excellence.
Founded in 1964, Yissum is one of the first technology transfer companies worldwide - second only...
The Importance Of Quality Education
By: Daniel Millions | 15/05/2008
The basic tenant of education encompasses more than just the teaching of what we know to our young. As well as passing on essential skills like language and the basic functions of living, education passes on the culture of a society. These are the intangible patterns of behavior that distinguish...
More from Amelia Turner
How Distance Learning Can Enrich Your Life
By: Amelia Turner | 08/05/2008 | Online Education
Most people already recognize that ongoing and advanced learning can increase your lifetime earning potential and further enrich your life. Moreover, by continuing improve your knowledge and skills help you to stay competitive in the job market and distance you from the unemployment line. Distance learning is the most innovative and flexible educational tool for you to advance your learning in various areas that required not only for your career advancement but also for enriching your life.
The Key Reasons Why People Fail Online Education
By: Amelia Turner | 06/05/2008 | Online Education
Online education has become a prefer option especial for working adults to obtain a degree from their comfort home and at their convenient learning schedule. But, not all online students will be successful to complete their online education program. What are the key reasons people fail in online education?
Advance Your Career With a Degree in Security and Loss Prevention
By: Amelia Turner | 04/05/2008 | Education
Are you planning to advance your career in criminal justice field? If your next career move is to work at private or public security sectors that handle large amounts of cash such as casinos, then if you have the skills in prevention of fraud and theft, you will have greater advantage to secure any job opportunity for your career advancement. A degree in Security and Loss Prevention will enabled you to acquire the required skills that help in your career move.
The 4 Important Steps of Selecting Universities
By: Amelia Turner | 18/04/2008 | College and University
The best university for you may not be the world's famous university, but the university which can offer you with the degree program of your interest field and meet the other criteria that are important to you in helping your future career. And, selecting a university to study is very time consuming but it is important process that you should be putting your efforts and time for it. Here are 4 important steps to guide you in selecting your best university.
Are Online MBA Degrees Respectable?
By: Amelia Turner | 01/04/2008 | Education
In conjunction with the popularity of online education, more and more universities make their MBA program available online. While the available of MBA in online format presents the golden opportunity for many working individuals to acquire a valuable qualification without disrupting the current career, many still worry about the respectability of online MBA.
Career Guide - is Earning an Online MBA Worth It?
By: Amelia Turner | 28/03/2008 | Online Education
MBA is one of the most popular educational options especially for mid-career professions to be trained for more advanced leadership roles in various businesses and industries. Today, a number of accredited universities offer online MBA degree program, making an MBA not only more affordable but much more convenient also. The question is: Is earning an online MBA worth it?
University Devry's Online Bachelor Degree Programs Review
By: Amelia Turner | 21/03/2008 | Online Education
The degree programs offered by the university cover almost every career fields. In conjunction with the growth of online education, University Devry has followed the technology trend to offer online degree programs for students who prefer to earn their degree through online media. Here we will review the major online bachelor degree programs offered by University Devry.
How are Online MBA Programs Different From Traditional MBA Programs?
By: Amelia Turner | 19/03/2008 | Online Education
Nowadays, with the available of online education programs, you have a choice to earn your MBA degree from traditional MBA program offered by a campus-based university or through an online MBA program. What are the differences between the online and traditional campus-based type of MBA programs? Knowing the basics will help you to decide whether or not these programs are right for you.
Education 
