Scholarship Myths
A lot of students do not apply for scholarships because they believe that only the most exceptional students receive them. Fact is…you do not need a 4.0 GPA to apply for and receive a scholarship. Although many scholarships do consider academic performance, the level of achievement required to receive one is always relative to the other students in the applicant pool. In addition, criteria other than academic performance, such as your major, extracurricular activities, volunteerism and/or financial need, are being considered.
To increase your chances to receive a scholarship, you must first do your homework and research available opportunities, and then try to impress the selection committee with your application. One way to justify the time spent on these activities is to consider that you are getting paid for your efforts. If you spend five hours identifying and applying for a scholarship and you receive a $300 award, you just earned $60 an hour! Even if you don't receive a scholarship, you will have refined your research and writing skills and will be better prepared to pursue similar opportunities in the future.
Truth: A study conducted by the national institute of Work and Learning indicated that education benefits proved by employers for their employees nationwide totaled approximately $7 billion. This was calculated on the assumption that every eligible employee and their dependent children would take advantage of this educational benefit. Needless to say, not every employee does. As a result, millions of potential benefits go unused. However, these dollars cannot be categorized as unclaimed because they are not available to the general public.
Truth: Some scholarship search services advertise extremely high success rates. They would like you to believe that over 90% of their users receive some scholarship funding. In reality, over 90% of their users are given a list of scholarships. College surveys conducted throughout the years have indicated that the real success rate of the majority of scholarship search services is about 1%. This is also known as the guaranteed winner myth. Contrary to public perception not all scholarships are awarded based on academic achievement alone. The majority of scholarship committees evaluate a candidate on many criteria, of which academic achievement is one. Academic achievement is one of the major criteria for evaluation. However, other non-academic factors are just as critical in some instances. Some of these non-academic factors include financial need, household size, course of study, and still other factors may include hometown and other obscure facts.
Truth: Everyone has heard the stories of scholarships being given to individuals because of who they know. They have connections; they’re friends of the family, etc. It is quite possible that this has happened before, but if it does happen, it is so infrequent that it is not documented as a trend. Scholarship success is definitely attributed to what you know, to your achievements, and to your potential more than any other factor.
Truth: This is partly true. All resources must be accounted for when determining a student’s eligibility for need-based financial aid. As a result, the more resources you have the less eligibility for certain types of aid you may have. However, it must be pointed out that if a student’s eligibility is high enough, then the receipt of a scholarship would not impact any of their need-based financial aid eligibility. This is reviewed on a case by case basis and no blanket policy exists. Students are encouraged to apply for federal financial aid as well as scholarships.
Truth: In the 5-state region that includes Texas, this is no longer true. All applicants are considered equal for scholarships. As a result of the 5th Circuit U.S. Court of Appeals ruling on the Hopwood case, race-based scholarships are no longer considered legal in the five state regions (Texas, Oklahoma, Louisiana, Arkansas and New Mexico).
But what about the states outside of the 5-state region? The universities in those states are free to offer scholarships to individuals from specific ethnic backgrounds. However, the existence of scholarships which have exclusive eligibility criteria. (Ex: the existence of scholarships for tall people does not imply that all people have a better chance at receiving scholarships).
Truth: Having an “A” average alone will not guarantee you a scholarship. The Coca-Cola Scholars Foundation conducts one of the largest corporate-sponsored scholarship programs in the United States. Although a good academic record is a contributing factor, having an “A” average exclusively will not qualify a student as a Coca-Cola Scholar. Coca-Cola Scholars are well-rounded, unique, and independent individuals.
Truth: B or C students still have opportunities for scholarships. If you are a B or C student and you have a history of participation and growth in extracurricular activities as well as involvement in your community, you have an excellent chance of winning scholarships. Highlighting your participation and involvement in a student résumé and an essay will help you be successful.
Truth: Middle class students can win money for college. Although they may not be eligible for some need-based scholarship programs, they still have numerous opportunities to win merit scholarships.
Truth: Having good grades and high SAT scores are definitely important. However, you still need to have a history of participation and growth in extracurricular activities as well as involvement in your community to win scholarships. Also showcasing your participation and involvement in a student résumé and an essay will help.
