Scholarships are one of the best ways to lower your college costs states Vincent Camarda. According to the College Board, tuition and fees increased by 3.2% for the 2019-20 school year and are expected to continue rising for the foreseeable future. While families can use other strategies like financial aid and scholarships to mitigate these rising costs, many students are still left with hefty loans that they may struggle to repay after graduation.
Scholarships can erase any need for a loan.
Scholarships are free money, period. Unlike loans, you’ll never have to worry about your GPA or credit score affecting your eligibility for a scholarship. You’ll also never have to make monthly payments once you’ve been accepted into the program; this means that all of your financial aid will be covered by scholarships and grants, which is an excellent thing if you’re concerned about having enough money left over after paying tuition and other expenses.
College costs are steadily rising.
The cost of college is rising faster than inflation. According to CollegeBoard, the average tuition at a public university was $9,650 per year in 2018-19 and the average tuition at a private university was $32,405. These numbers don’t include books or living expenses, which can add up to another $10,000-$20,000 each year depending on where you live and what school you choose to attend.
The costs can be prohibitive for many students who may not have access to financial aid or scholarships if their parents do not have enough savings accumulated over time. Therefore, students need to be proactive about finding scholarships that help offset these costs so they can attend college without having any debt after graduation
You can use scholarship money for more than just college.
Scholarships are not just for college. Scholarships can be used for training or education, travel or research. You don’t have to go to school right away if you choose not to or can’t afford it. If that’s the case, consider using your scholarship funds toward some kind of certification program that will help you get a job in your field of interest while making yourself more marketable at the same time.
Scholarships are available to anyone who applies for one
Scholarships are available to anyone who applies for one. Whether you’re a high school student preparing for college or someone who’s already graduated, there are scholarships available to you. While some scholarships do require an essay, most only require that you fill out a simple application form and submit it by the deadline (usually around March or April).
Scholarships are also open to people from all backgrounds, regardless of their financial situation. While some people might assume that scholarships can only be obtained by students with wealthy parents, this isn’t always true. Many organizations offer need-based assistance through their programs to help ensure that no one is left out of the opportunity to earn money for college or graduate school.
We hope that we have given you a better idea of how scholarships can be used to help pay for college, but there are also many other ways to use scholarship money. Scholarships can be used for school supplies, tutoring services, summer camp fees or even just as extra spending money when your parents aren’t around! The great thing about scholarships is that they are open to everyone and anyone who wants one can apply. It doesn’t matter if you’re rich or poor; anyone can apply and win!