You’ve read about the 5 most common scholarship myths that stop many students from applying for free money that could be used to pay for college. Unfortunately, those aren’t the only scholarship myths out there. We’ve put together 5 more scholarship myths that you should not to believe in.
Myth #1: I can apply for a scholarship only once
Fact: There are no limits to the number of times you can apply for a scholarship. Organizations that offer scholarships reserve a certain amount of money to be awarded as scholarships to deserving students every year. Every scholarship opportunity has its own unique set of eligibility requirements. As long as you meet the requirements, you may submit your application. The judges will assess each application on its own merit and award the scholarship to the most deserving applicant, regardless of any other factors.
However, if you win a particular scholarship, you may not be eligible to apply for the same one the following year. Depends on the opportunity.
Myth #2: Only students who can write impressive essays stand a chance of winning scholarships
Fact: Judging scholarship essays is completely subjective. Scholarship judges are not necessarily focusing on how an essay was written, what is more important to them is reading your thoughts on a specific subject. They will take a close look at whether you have followed the guidelines provided and addressed the essay topic appropriately.
The best way to write a winning essay is to ditch the stringent academics and let your personality show through in your words.
Myth #3: The amount of time you have to spend looking for scholarships is not worth it
Fact: Every second that you spend looking for scholarships is totally worth it. Considering there are so many different types of scholarship opportunities available, you never know what fantastic opportunity you may stumble upon during your search that you would never have known about otherwise.
Myth #4: I should not waste my time applying to small scholarships
Fact: Scholarships come in all sizes and while the bigger awards are more appealing, they are also much more competitive. You have to be at the top of your game to win some of the larger awards. Smaller scholarships are also competitive but they are comparatively easier to win. Also, there is no limit to the number of scholarships you can apply for and win. If you win multiple smaller scholarships, all of those small awards can add up to a considerable amount.
Even the smallest scholarship is worth applying to. Every dollar that you win by way of scholarship means you need to borrow that much less by way of loans.
Myth #5: Only those who can demonstrate financial need are awarded scholarships
Fact: The majority of scholarships do not require applicants to demonstrate financial need. The only condition is that you meet the specified conditions, which may be as diverse as having a unique talent, pursuing a particular hobby or belong to a certain race, religion or culture.
Scholarship money can go a long way in helping you graduate with minimum debt. Don’t let these myths and misconceptions keep you from applying to opportunities that you qualify for.
But if scholarships don’t cover the full cost, you’ll need a student loan that fits your situation. With College Raptor’s free Student Loan Finder you can compare lenders and interest rates side by side!