1. They make education easier to access

According to US News & World Report, in 2020 the yearly college tuition in the US went from $11,171 at public colleges to $41,411 at private colleges. Many students are discouraged by these high prices, but securing financial aid through a scholarship can give students opportunities they wouldn’t access otherwise. Having a scholarship allows the student to consider a more selective program, reduces the risk of dropping out, and often offers opportunities to expand their academic experience through internships or study abroad programs.

2. They come with extensive support

Many universities offer their awarded students extensive financial support. This means that besides getting the scholarship money, you’ll also be guided by a specialist in your university on making the best use of it. This mentorship can be a massive help to first-year students, who’ll get expert advice on how to handle all the benefits that come with the scholarship properly.

3. They help you expand your network

You start networking long before you even know the meaning of the concept. Your group of friends in school, the teachers you connected with, your online friends who share the same interests as you...they are all part of your network. Being in college allows you to start building more professional network connections intentionally.

A scholarship will allow you to attend academic events and participate in activities that will prove to be precious networking opportunities. Being awarded a scholarship also gives you access to a unique network: the recipient alumni community. Meeting people in your academic field who share your experience can bring you great benefits in your future.

4. Scholarships allow you to focus on your studies

For many students, getting a part-time job is the best, if not the only way, to pay for their degree. However, when your job takes up around 15 hours of your week, focusing on your studies and graduating on time becomes difficult. If you have a scholarship, you will be able to dedicate yourself fully to your studies. Not having to work while in college will significantly reduce the student’s exhaustion, resulting in a much smaller chance of dropping out.

5. They help you boost your CV

Having an impressive CV is key to getting started on the job market once you graduate. Scholarships are an outstanding and prestigious award, often merit-based, which means they only go to students with highly satisfactory academic history. Scholarships and the opportunities they bring elevate your academic and professional profile, and having such a distinguished item on your resume will undoubtedly impress recruiters and hiring departments.

6. They encourage philanthropy

The organizations that provide you with a scholarship aren’t just interested in funding your education. They also want you to explore how their investment can help you positively impact the world. These institutions usually encourage (and sometimes even give opportunities to) their awarded students to participate in voluntary work and develop projects to implement their research in a way that builds up the community around them. Having a scholarship is also a great opportunity to become more philanthropic, thinking about those around you and how you can make a difference in their lives through your research.

7. They provide access to more colleges

Unfortunately, money still constitutes a barrier to education. For this reason, some university programs remain off-limits for many people. But students with lower household incomes shouldn’t lose out on pursuing higher education due to financial barriers. This is why scholarships play such an important part in the world of education: they help remove these barriers, make education accessible to everyone, and increase diversity in higher education and, in turn, the workplace. When more people have access to good education, the whole world is benefits.

8. They provide additional experience

Many scholarships also offer scholarship recipients great internships and work opportunities. Having the chance at professional development early on in your career will surely make you more successful in the job market. Some institutions also encourage you to participate in voluntary work and be an agent of change in your community. Every work experience is a valuable asset for your resume and they are, above all, valuable life experiences.

9. They encourage diversity

Scholarships aim to make universities more accessible to those who wouldn’t otherwise have such opportunities. They do this by encouraging diversity in academic areas and supporting students from disadvantaged backgrounds to pursue higher education. Many institutions offer exclusive scholarships for women, immigrants, international and indigenous students, people with disabilities, and many other groups, helping to close the gap between underprivileged students and higher education.

10. They encourage corporate social responsibility

Scholarships aren’t offered just by the government or universities. There are also many private companies committed to doing their part to change the world. A great example of this is the Live Más Scholarship, a program by Taco Bell that started in 2018.

The Live Más scholarship awarded seven million dollars to 725 US students in 2021. To apply for this scholarship, you don’t need to worry about your GPA or your resumé. Taco Bell has stated it looks for “ALL young people who are pursuing higher education and using their passion to ignite change in their communities and beyond.”

Another great opportunity for students is the L’Oréal India scholarship for young women in science. The program is a partnership between L’Oréal and UNESCO and has benefitted over 385 young women since 2003 to pursue their education in scientific fields in recognized higher education institutions in India.

Find the perfect scholarship for you

If you’re in the process of looking for the perfect university program for you, don’t leave scholarship opportunities out of your research. With the help of specialized academic portals, you can easily browse through thousands of scholarships offered in every academic field you can imagine.

Applying for a scholarship will give you a chance to be a part of great funding programs and take you on a journey where you may discover how you can make a positive impact on the world through your studies...