What Are My Chances of Winning a Scholarship?

You can cross your fingers, but what are the chances of you winning a scholarship?

Flickr user ~dgies

Scholarships are, without a doubt, the best way to pay for your college education. But they can be a lot of work and daunting, which puts some people off. So what are your chances of winning a scholarship? Is it worth all the effort?

What Are the Chances of Winning a Scholarship?

The chances entirely depend on the type of scholarship you’re applying to. There are many elements to a scholarship that affect the odds of you winning, not all of which you can control.

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Local vs. National

The bigger the pool of applicants, the smaller of a chance you have to win. So applying to a big, well-known national scholarship can have lower odds than applying to your local community scholarships. So make sure you don’t overlook the local scholarship opportunities in your hometown.

Workload

Unsurprisingly, the more work something has, the fewer people actually fill it out. Don’t shy away from scholarships that require essays, interviews, portfolios, or recommendation letters, you can be rewarded for the work-heavy effort you put in!

Your Application

Now comes the part that you have direct control over—you. To increase your odds of qualifying for (and winning) more scholarships, there are a number of elements you can work on. Higher GPA, higher ACT/SAT scores, being involved in extracurricular activities, volunteering, sharpening your writing skills.

Apply, Apply, Apply

Scholarships are always worth the effort. To lower your potential for student loan debt, you should maximize your scholarships. Give it all you’ve got. The more scholarships you win, the less you’ll have to take out in loans.

But when scholarships don’t cover anything, you’ll need to find the best fitting loan. College Raptor’s Student Loan Finder can help you compare lenders and interest rates to find the ideal loan option for you.

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Lender Rates (APR) Eligibility
Sallie Mae logo.
1.62% - 11.73% Variable
3.75% - 12.85% Fixed
Undergraduate and Graduate
VISIT SALLIE MAE
Credibe company logo.
0.94% - 11.98% Variable
2.99% - 12.99% Fixed
Undergraduate and Graduate
VISIT CREDIBLE
Lendkey company logo.
Undergraduate and Graduate
VISIT LENDKEY
Ascent company logo.
1.47% - 9.05% Variable
3.97% - 11.89% Fixed
Undergraduate and Graduate
VISIT ASCENT
College Ave company logo.
1.19% - 11.98% Variable
3.49% - 12.99% Fixed
Undergraduate and Graduate
VISIT COLLEGE AVE
2.93% - 5.67% Variable
4.35% - 7.15% Fixed
Undergraduate and Graduate
VISIT ISL
Earnest company logo.
0.99% - 11.44% Variable
2.94% - 12.78% Fixed
Undergraduate and Graduate
VISIT EARNEST
1.30% - 11.52% Variable
3.20% - 11.99% Fixed
Undergraduate and Graduate
VISIT ELFi
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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