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6 Scholarship Myths That Just Aren't True

Oct 20, 2017

It's that time of year again when high school seniors are applying for college and Mom and Dad are finding ways to pay for it. If you were smart the last 18 years you have been saving for college in a good 529 plan. Even though you have the money set aside for your childs college it's still a good idea to apply for FASFA money, every source of financing for college will be necesary.

Still there is one final thing many parents just do not do, and that is apply for scholarships. You are thinking that your child just doesn't have the grades to receive a scholarship but you may be suprised to know there are other qualifications a student posesses that will get them a scholarship.

There is a lot of bad information out there that says that scholarships are just to hard to get. Some students lose out on thousands of dollars just because of bad information. Let's break down some common scholarship myths and get more young people the money they need.

Scholarship Myths

Myth 1. Millions of Dollars of Scholarship Money Goes Unclaimed

Employer paid education benefits are included in the millions of unclaimed scholarship money and account for 85% of it. So in reality the number of unclaimed dollars is much less.

Myth 2. Competition for Scholarships is too Stiff

If you look hard enough you can find a scholarship requiring your specific talents or ideas. Not all are aimed at the student with the highest GPA or the the most community service hours.

Myth 3. Only the Best Students Receive Undergraduate Scholarships

Scholarships tend to honor those of specific majors and interests, as many universities offer full rides to students who have performed well in high school.

Myth 4. Scholarship Offers will Come to Me

This one is simple. If you do not put forth the effort, you won't reap the benefits. Scholarship agencies do not search for students. They only look at applicants.

Myth 5. Applying for a loan will Hurt My Chances for Getting a Scholarship

Every school is different, but most offer scholarships before loans can be taken out. And even if they do not necessary loans should not effect scholarship amounts.

Myth 6. Scholarships Require Exceptional Talent

This just isn't true. Many scholarships are random and based on luck, while others require simple essays about why you deserve the money.

Click Here : Free College? Great Scholarships On the Web

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