Registered: 1 month ago
Pros and Cons of Receiving a Scholarship
You could be wondering if getting a scholarship is all it's cracked up to be. Sure, it's always nice to obtain money that you're not anticipated to pay back, but are there any drawbacks to getting a scholarship. As it turns on the market are pluses and minuses to receiving scholarship money. The plain plus is that you get money that you want for school that you simply won't have to take out within the form of a loan. This money will go towards things like tuition, room and board, books, provides, your pc, and anything else related to school.
You definitely do not need to look a gift horse within the mouth but there are some things that you're going to be expected to do as a way to receive the scholarship money, and keep receiving it every semester. Many scholarship awards have minimum requirements that you're going to be expected to have in order to get the award within the first place, however you'll also be required to take care of these minimums every semester you anticipate to keep getting it. What's nice a few scholarship is that it's often not a one-off. You can renew it for as long as you go to school, depending on for those who keep your grades up and meet all other expectations. Some scholarships will need you to maintain a certain GPA, while others will anticipate you to get entangled with extra-curricular activities or put in volunteer hours with the intention to get your money.
In case you come to depend on your scholarship money, but have a bad semester, it can be financially devastating having your cash rescinded or not qualifying for it for future semesters.
When compared to grants, scholarships normally have more strings attached, but since they are renewable it balances out. When you obtain a grant, many instances it's a one-time award. If you wish to obtain it again it's important to reapply and get re-accepted. The fantastic thing about grants is that you just rarely will need to do anything outside of applying for them. If you happen to apply for a grant and are awarded the grant, the money just shows up either by direct deposit or in the form of a check. With a scholarship they will not only verify that you just're eligible to obtain it, they will check with the school to make sure that you're still keeping your end of the cut price, and all cash will be despatched to the faculty directly to pay for things. You will only get the leftovers to do with as you please.
Of course it's better to get a scholarship than to not get a scholarship. Just do not be shocked while you find out all the different things that come with getting one. They're usually glamorized and considered the Holy Grail of free cash for college. Some scholarships cause stress in the form of keeping the minimal requirements. It's as much as you to resolve if it's value it or not.
If you loved this information and you would certainly like to receive additional info relating to merit aid American University kindly browse through the webpage.
Topics Started: 0
Replies Created: 0
Forum Role: Participant
Technical specification tables can not be displayed on mobile. Please view on desktop