Money For College

When analyzing a potential scholarship, a student should identify the following information.

1.     Name of the scholarship

2.     Sponsor

3.     Sponsor e-mail or mailing address (phone number)

4.     Contact person

5.     Deadline

6.     Field of study required

7.     Value

8.     Rules of the application

9.     Required information for the scholarship packet

10. Breakdown of emphasis on grades/leadership/athletics

The minimal amount of time spent applying for scholarships can have huge returns. If you spend 3 hours filling out a scholarship application and you receive a $500 one-time scholarship. You made $166 per hour. If you spend 10 hours and receive a $2,000 scholarship, you made $200 per hour. ? A scholarship that is reoccurring and given out over multiple semesters can even have a higher rate of return. Can you make $200 per hour at the local grocery store? No. Can you make $166 per hour cutting yards? No. Why should you spend time working at a low paying job that offers minimal return for your investment of time? Having to work a part-time job in college and balance schoolwork is no fun. Wouldn’t it be nice not to work a part-time job and just focus on class-work?

Many Internet scholarship search companies are designed to separate students and their money. Often a front end fee is required focusing on the potential upside of the transaction, however many times that front end charge is never returned to the student. Some of these companies have been set up to scam unsuspecting students out of millions of dollars. In addition, prosecution of these companies is often complicated and a drawn out process. Many students simply give up trying to get their money back, and the scam artists win big. If it is too good to be true, it probably is.

      Additional Key Points

All documents on this website are copyrighted.