In today’s world, financial assistance is necessary for many university students and scholarships are the most desirable form of financial aid. Many scholarships are based on merit or awarded as recognition for certain achievements. There are also other types of scholarships which are needs-based. Either way, they are beneficial because they are seen as prestigious and can enhance your resume as well as help you pay for your education. In a similar way to grants, scholarships do not have to be repaid. Here are some of the main advantages of earning a scholarship…
Financial Benefit
Many students graduate from university with huge student loan debt or have to limit their education in order to keep a lid on costs. As scholarships are essentially free money, students can instead focus on their careers instead of worrying about how they will repay their student loan. They also allow students to pursue subjects that require postgraduate training such as MBAs. By removing financial barriers, scholarships make education and career goals easier to achieve.
Educational Benefit
Having a scholarship that pays for your education can actually reduce your risk of dropping out and not getting the degree you want. By reducing financial concerns, scholarships can also mean more time for learning and studying, which can lead to better grades and increase your chances for continuing on to postgraduate studies.
Career Benefit
Earning a scholarship can actually make you a more attractive job candidate. Employers who understand the competitive nature of the scholarship will recognise it as an accomplishment and demonstrates that you have excellent academic capabilities. Scholarships are accomplishments worth listing on your resume and can help you stand out when you search for a job and can even help you achieve the career you want.
Personal Benefit
The money and security afforded by having a scholarship allows you to be more selective regarding how you spend your free time. Students can then use this time wisely and make the most of it. For example, instead of working at any minimum-wage job you can find to support yourself, you can select work that is meaningful which also adds value to your degree.
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