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5 Scholarship Myths You Should Avoid

It seems like the more information that is out there to be found the more misinformation grows to shroud the truth from the false. Such is the case when trying to research and find the right course to take in applying for scholarships. More troublesome is trying to find someone who doesn't also believe the same preconceived notions that perpetuate these myths.

Today we're going to dispel 5 myths about scholarships so you can avoid losing out on any attempts to obtain one.

You should start searching for scholarships when you're a senior.

This myth doesn't hurt as bad some of the others one, but it does put you at a disadvantage for starting late in applying for scholarships. Most scholarships have deadlines in January, so if you do wait to your senior year to start applying for them then you should start that process as soon as possibly. It would be best for students to start looking for scholarships in their junior year of school, starting in the first semester.

Only top students and athletes can get a scholarship.

This myth is one of the worst ones. Plenty of scholarships do not take grades or sports participation into consideration whatsoever. And though most scholarships do consider your G.P.A., they do not necessarily dictate that you have to have a 4.0. A lot of scholarships do have a minimum requirement of 2.5, but plenty of students make a 2.5 in school. Thus, it becomes more about the student's character that wants to get a higher education than their grades.

You can only get a scholarship if you're in high school.

Granted, most scholarships are for undergraduate students. But some are for those who are no longer in school at all. There are also scholarships for graduate students. So, it's incumbent upon you to seek out if there's a scholarship that fits your situation if you're passed the flower of high school. There just may be one that's right for you.

Most scholarship awards are too small and not worth the effort of applying.

I present example:A to the court from Tamara at UNIGO. "If someone offered you a part-time job for $50 an hour, would you take it? Of course you would! That is how you should view applying for scholarships – as a part-time job. If you spend 20 hours searching and applying for scholarships, and win just one $1,000 scholarship, you just earned $50 an hour for your efforts. Do the math – scholarships are definitely worth your time!"

If you consider that if you won 4 or 5 scholarships that range from $500 to $5,000, you could pay for a good deal of your first year in college. Every dollar you awarded is more than what you'd have to pay back if you took 100% of the cost of school out in a loan. When you consider the interest, and the fact that 44 million people are paying back a debt of $1.5 billion it would make more sense for you to try to get as many awards as you can. And even if scholarships didn't pay for all of school whatever parts they do cover will help you live in the post-college years with less burden.

Millions of dollars in scholarship funds go unclaimed each year.

This myth may be the most common one, and also a costly one. First, though you must understand that most donors aren't creating scholarships so no one can be awarded that money. Organizations / schools exist to make sure some student / person is given a chance to be awarded a scholarship. It is the job of the potential recipient to seek these out. It is possible for some, very few, scholarships go unawarded. However, the vast amounts of funds that are raised each year are serviced to their intended target audience, and you'll come to find some organizations that are constantly looking for more financial help to continue awarding more scholarships out.

This notion that all this money goes unused every year seems to come from scholarship scammers trying to get you to use a paid service. You never have to use a paid service in order to find a scholarship. However, it also doesn't mean that just because you apply you'll be awarded one. As a potential awardee, you must follow the rules and guidelines of the application process and diligently pursue the action steps that would give you the best opportunity to receive a scholarship.

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