Let’s talk about college scholarship statistics. You’ve probably heard about them from your high school counselors, parents, and potential colleges, but what exactly are they? What do they do? How do they help?
What is a scholarship?
Essentially, scholarships award students “free money” to cover parts of their college education. Students don’t need to pay back the money, unlike student loans. Most of them are merit-based, which means students earn it for any number of reasons; exceptional grades, outstanding athletics, dedicated volunteer work, or even just fitting into a certain demographic. There are plenty of great scholarships available and can help reduce your future debt.
Since college scholarships don’t have to be paid back, students can save money and reduce their potential student loan debt. College can be expensive, so saving every little bit on tuition is really helpful.
What every student needs to know about college scholarships
Interested in some scholarship stats? Check out the infographic below to learn who gives out awards, how many students receive them, and the gifted amount per year.