You might be wondering if getting a scholarship is all it's cracked up to be. Positive, it's always nice to obtain money that you simply're not anticipated to pay back, but are there any drawbacks to getting a scholarship. As it turns out there are pluses and minuses to receiving scholarship money. The apparent plus is that you get cash that you want for school that you just won't should take out in the form of a loan. This money will go towards things like tuition, room and board, books, supplies, your computer, 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 anticipated to do with a purpose to receive the scholarship money, and keep receiving it every semester. Many scholarship awards have minimal requirements that you will be anticipated to have in an effort to get the award in the first place, however you'll even be required to keep up these minimums each semester you anticipate to keep getting it. What's great a few scholarship is that it's often not a one-off. You'll be able to renew it for so long as you go to varsity, depending on if you keep your grades up and meet all different expectations. Some scholarships will want you to keep up a certain GPA, while others will count on you to get entangled with additional-curricular activities or put in volunteer hours as a way to get your money.
For those who come to depend on your scholarship cash, but have a bad semester, it can be financially devastating having your cash rescinded or not qualifying for it for future semesters.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 hooked up, but since they are renewable it balances out. If you obtain a grant, many times it's a one-time award. If you wish to receive it again you must reapply and get re-accepted. The beauty of grants is that you simply hardly ever will must do anything outside of applying for them. In case you apply for a grant and are awarded the grant, the money just shows up either by direct deposit or within the form of a check. With a scholarship they will not only verify that you're eligible to receive it, they're going to check with the school to make sure that you simply're still keeping your end of the bargain, and all money will be despatched to the faculty directly to pay for things. You'll only get the leftovers to do with as you please.
After all it's higher to get a scholarship than to not get a scholarship. Just don't be stunned once you find out the entire other things that come with getting one. They're typically glamorized and considered the Holy Grail of free money for college. Some scholarships cause stress within the form of keeping the minimal requirements. It is as much as you to decide if it's worth it or not.
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