Common Misconceptions About Need-based Scholarship

Mary Joseph
Mary Joseph May 26, 2023
Updated 2023/05/26 at 6:24 PM
Need based scholarship

College can be anxiety-inducing due to high tuition fees and the constant flow of distressing tales about student debt and post-graduation challenges. Numerous students rely on financial aid to get through college, but student loans can be financially burdensome. However, scholarships can provide relief.   

Although scholarships are available in large numbers, it is the responsibility of students to seek out the ones that suit them. Unfortunately, many students don’t make an effort to do so.

Only one in eight high school graduates with excellent grades apply for scholarships because they misunderstand the availability of financial aid.

 Here are a few common misunderstandings about obtaining financial assistance.

Common Misconceptions About Need-Based Scholarship

Only The Gifted Are Eligible For Scholarships:

Numerous high school students hold this belief, leading them to refrain from seeking financial assistance.

However, this assumption is incorrect, as numerous institutions provide scholarships, with only a minority focusing solely on exceptional academic performance.

People have various factors they consider when selecting a candidate, such as their father’s profession or where they live. It is advisable to thoroughly review the eligibility requirements of the scholarships that catch your attention.

I’m Ineligible For A Scholarship:

Students frequently think they are ineligible for aid, resulting in missed scholarship possibilities. However, numerous scholarships exist that are not solely based on merit or exceptional grades.

Unfortunately, universities do not always provide clear information about available scholarships, leaving students unaware of opportunities they may qualify for.

To simplify the search for scholarships, universities and organizations have embraced scholarship management software and tools as technology has progressed.

This advancement should gradually enhance the overall process and improve accessibility for all.

The Application Procedure Takes Too Much Time:

In the past, it was challenging to find appropriate scholarships as it required using multiple incomplete resources.

However, by creating a profile on European-funding-guide. EU, you can easily complete this task in just a few minutes.

Once your profile is set up, you will receive a comprehensive list of scholarships that align with your profile. This saves you valuable time in the research process.

Although it’s true that the scholarship application process can be time-consuming, it’s crucial to provide students with a broader perspective.

According to a survey, 84% of scholarship applications are finished in three hours or less. If a student were to win a $500 scholarship for a day’s worth of work, they would essentially earn $62.50 per hour.

Therefore, while the process may require time, the effort put into applications can ultimately be rewarding.

Devoting a few hours each day to applying for scholarships can open up vast possibilities for students in the future.

Recent advancements in technology have made scholarship applications more streamlined, enabling students to conveniently apply for multiple scholarships simultaneously.

Scholarship Opportunities Are Scarce:

The major scholarship-awarding organizations are highly recognized, leading to a large number of applications.

However, there are over 8,000 organizations in the EU that provide scholarships to students and doctoral candidates, and many of them struggle to find suitable applicants.

Without thorough research, you won’t be aware of potential scholarships that are suitable for your situation.

To find external scholarships, students should proactively explore sources outside of their university. Subscribing to scholarship-focused social media accounts and staying updated with daily posts is a helpful method.

The opportunities exist, but it requires a collective effort from everyone involved to discover them.

You Need To Be Socially Responsible:

This misconception is widespread, especially in larger organizations that consider it a primary factor for selection. Although social commitment is a criterion for certain scholarships, there are just as many scholarships where it is not relevant.

Hence, it is still possible to receive a scholarship even if you have not yet engaged in community work.

The Funding Won’t Be Sufficient:

Scholarship funding can vary significantly, with grants ranging from a few hundred Euros as a single payment to monthly payments of 1,500 Euros.

Doctoral candidates usually have access to more substantial funding. Some organizations offer partial scholarships, which can be supplemented with additional scholarships, loans, or part-time employment.

Need-based Scholarships Are For The Needy:

Many students share this misconception, which hinders their application process. However, scholarship selection criteria differ significantly. While some scholarships aim to assist financially disadvantaged students, others have different objectives.

For instance, a scholarship may seek to encourage a specific career path or aid students from a particular region. It is advisable to explore all available scholarships, regardless of your financial situation.

Scholarships Are Solely Offered To Cover Living Costs:

Apart from grants that cover living expenses, there are scholarships available for various purposes such as purchasing books, covering expenses for travel, printing, and even acquiring property.

Additionally, you can find scholarships specifically designated for tuition fees, internships, and other forms of support.

Many organizations also offer scholarships for studying or interning abroad, language courses, research opportunities, and exploration trips

The Scholarship Market Is Overly Competitive:

While high-value scholarships face intense competition, there are numerous other scholarships accessible. Improving your chances of winning requires strategic preparation.

It is crucial to thoroughly review the instructions for each college scholarship application, as many students overlook this step.

Additionally, explore local sources like businesses, nonprofits, and your parents’ employers, as they may offer scholarship opportunities. NSHSS is also a valuable resource, granting over $2 million in college scholarships each year.

Scholarship Applications Are One-Time Only:

You may assume that scholarships are no longer relevant once you start college. However, it’s important to continue applying for scholarships throughout your college years.

Make sure to carefully review the details of any scholarship you receive. It may either renew automatically each year or require you to reapply annually.

Additionally, there are numerous scholarships specifically for current college students.

Initially, the process of finding and securing college scholarships may appear challenging.

Read here on how to find and apply for need-based scholarships https://busytape.com/need-based-scholarship/

Every Scholarship Calls For An Essay:

Essays are commonly required in scholarship applications as they allow scholarship providers to assess your motivation and suitability for financial assistance.

However, not all scholarships follow this approach. Some scholarships evaluate applicants solely based on factors like GPA, test scores, extracurricular involvement, or financial circumstances.

If you prefer not to write an essay, consider seeking scholarships that don’t require one.

One Scholarship Application Is Sufficient:

It would be wonderful if this were true, right? Students often believe they can apply for one major scholarship that will fully pay for their tuition. Although this may be true for a few individuals, it is not the reality for most students.

In reality, you will likely need to depend on multiple scholarships to significantly reduce your educational expenses.

If scholarships alone cannot meet your financial requirements, you might have to explore other possibilities like grants or student loans.

Conclusion:

Studying overseas has long been a desirable choice for students seeking top-notch education at renowned international universities. However, the significant expense associated with education abroad has consistently posed a challenge.

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