Today, let’s take a look at scholarships. With the average cost of attending college / university somewhere between $8,000 and $28,000 per year (depending on factors such as public/private school, location, and so on), many people are concerned about the price of college tuition. Indeed, in the 20-year period from 1988 to 2008, the average price of tuition and fees at a public college / university increased by 130% – more than double, and it doesn’t look like price increases are going to slow down anytime soon. Small wonder, then, that people look for ways to find money to fund a college education. Scholarships can help.
When Americans talk about a scholarship, they generally mean “money to study at school,” or money given to a student to cover some (or all) the costs associated with attending school. Broadly speaking, this could be any school, including a private elementary school or high school. But usually, most people think of scholarships in the context of attending college or university, and that is what we’ll be taking a brief look at here.
There are different kinds of scholarships. Some scholarships are what we call a “full ride,” where all expenses are paid for – not only tuition (i.e., the price of instruction), but fees, book, and room and board (i.e., paying for the student’s living arrangements and meals while attending college). Other scholarships might be for tuition only, or only for books. Sometimes a scholarship is for a set percentage of a student’s college bill, and other times a scholarship will be for a designated dollar amount, such as $500 per year, or $5000 per year. Some scholarships are granted through the college or university, while others are granted through private organizations.
Not only do scholarships differ in the amount of support they provide a student, but they can also differ as to the reason why scholarships are awarded. Some scholarships are awarded on the basis of academic merit – if a student earns excellent grades, he may be granted a scholarship. Some scholarships are awarded to students who come from a disadvantaged background – perhaps the student comes from a poor family that otherwise could not afford to send him to college. Some scholarships are given to students of a particular ethnicity or ancestry – for example, if the student is of German ancestry, or Mexican ancestry, etc. Some scholarships are given to children of members of a particular group – for example, there are scholarships reserved for students whose mothers are members of DAR (Daughters of the American Revolution). Some scholarships are given in exchange for commitment to future service – for example, if the student agrees to serve in the military during college, or after graduation. Some scholarships are for sons or daughters of employees of a particular company, and some are for sons or daughters of veterans. Some are for students who plan to study a particular field, such as medicine. There are even oddball scholarships: believe it or not, there are special scholarships for people who are left-handed, for people who have red hair, and people who attend their prom wearing a dress or suit made entirely of duct tape!
As a matter of fact, there are simply too many scholarships available to list them all here. If you are thinking about attending college, it pays to investigate and see if there are any scholarships that you are eligible for. If you don’t like the idea of spending hours of research online, you can even sign up for a service that will hunt for scholarships on your behalf. Of course, such services generally have some sort of fee associated with them, but some people prefer the convenience of having someone else do the digging for them. Regardless of which option you choose, it’s worthwhile to see if you qualify for one or more of these scholarships. Every little bit helps!