10 Myths About Scholarships

Fact: This is the most common myth that people believe in when it comes to scholarships. However, this is a myth because not all scholarships are meant for students with above-average academic performances or grades. In fact, there are many scholarships that are for students with different talents, such as writing skills, music, painting, knowledge of many languages, commitment to social work, and many many more. The grade of a student is nowhere in the eligibility criteria for these scholarships, which are mostly private, as do not consider academic performance.

Fact: Some scholarships are specifically meant for minority students, but not all of them. In fact, the truth is just the opposite, because statistics show that general students end up winning more scholarships as compared to minority students.

Fact: This is completely false, because athletic scholarships add up to a very small percentage of the total amount awarded as scholarships. Also, the sum awarded as athletic scholarship is not more than a third of the college costs.

Fact: People believe that all scholarships are for people in financial need, but this is not entirely true. Students from low-income families might find it easier to qualify for government aids, but when it comes to the many private scholarships out there, students from middle-income families have a better chance of winning.

Fact: Contrary to popular belief, scholarships are not just for students who have completed their high school. While a majority of scholarships are for high school seniors, one can successfully apply for some scholarships even after joining college. What’s more, students from elementary and middle school are also eligible for certain scholarships.

Fact: It cannot get further from the truth than this. The fact is that very few scholarships go unclaimed, and the ones that do, do so because nobody meets the desired criteria that is usually very specific.

Fact: This is partially true, because winning a scholarship is not a cakewalk. However, this does not mean that you do not stand a chance. There are a host of private scholarships out there, and all you need to do is look for them and post your application. A key point here is to acknowledge where your talent lies, and then apply for a scholarship accordingly. There are diverse opportunities out there waiting to be explored.

Fact: Parents and students often believe that applying for an education loan would reduce their chances of winning a scholarship. However, since not all scholarships are for students with financial need, taking a loan has little effect on your chances to win a scholarship.

Fact: This is a complete myth because most scholarships can help with only a fraction of the college costs. In fact, there are very few scholarships that offer a completely free ride. Most students would have to depend on other sources, such as education loans, to fund their college fees.

Fact: Interestingly, while most people have the misconception that scholarships offer a completely free ride, those who don’t, feel that the small rewards are not worth the painstaking effort of searching and applying for scholarships. However, the fact is that the reward offered is hardly of any consequence, as a student can apply for and win more than one scholarship.