If you’re planning on tertiary eduction next year, we’ve put together 5 reasons why you should apply for scholarships – there are lots of benefits you could enjoy.
Ease the financial burden
Of course, the financial benefits of scholarships are one of the top reasons students apply. They’re a great way to help you pay for your education and leave you with less debt once you graduate. Look at applying for scholarships as an investment in yourself and your future.
Scholarships could cover the costs of one or many things, such as:
- Tuition fees
- Accommodation or other living expenses
- Books, technology, and other essential supplies
- Travel
Plus, you won’t have to pay the money back (unlike other financial support options like student loans).
Remember to always check the terms and conditions before signing up. You may have to fulfil certain obligations, such as maintaining a certain grade point average (GPA), writing a letter of thanks, or participating in certain programs. But otherwise, the money you receive is all yours.
Boost your study experience
There are academic benefits associated with many of the scholarships you could earn, especially the really prestigious ones. These are open things like mentoring or access to educational programs, which could help you achieve and maintain a higher GPA.
Some scholarships also include access to internships or other work experience programs, or even the chance to travel and study overseas. Any opportunities to expand your knowledge and experience beyond the classroom could help you to get the most out of your university experience (and boost your resume too).
The financial benefits of receiving a scholarship may mean you wouldn’t have to get a part time job to support you while you study, or that you’d need to work fewer hours. This means you can dedicate more time to studying, writing assignments, signing up for additional programs, or looking for extracurricular opportunities.
Get an edge in the job market
The fact that you’ve applied for scholarships could show that you’re forward thinking and proactive – two skills that are highly sought after by employers. Listing that you were the beneficiary of a scholarship on your resume could help to make you a more appealing candidate for potential employers too.
Scholarships that provide you with specific skills through some form of work experience, such as an internship, could make you a particularly desirable employee. If you’re lucky and put in 100% during your internship, you could even be rewarded with a job offer from the company.
Scholarships can also be a really great way to meet professionals and network with people already working in the field you’re interested in. Spending time with industry leaders could even lead to a job offer or other opportunities.
Learn to believe in yourself and your abilities
Completing scholarship applications is a great exercise in developing an appreciation of your strengths and qualities, as well as teaching you how to sell yourself. It’s a good opportunity to look back on all the great things you’ve done and achieved over the years and remind yourself of your capabilities.
By the time you’ve completed and submitted a few scholarship applications, you’ll probably know yourself a lot better, and hopefully value yourself a whole lot more too.
Not all scholarships are based academic merit
There are literally thousands of scholarships on offer. While some of them are offered to students with outstanding academic achievements, there are plenty of other scholarships for different criteria such as:
- Elite athletes or performers
- Community service
- Leadership potential
- Disability
- Family/domestic violence
- Financial disadvantage
- First nations students
- LGBTQIA+
- Low ATAR
- Refugees
- Rural students
- Women
Don’t let the misconception that scholarships are only for the academically gifted put you off finding and applying for scholarships – there are opportunities out there for everyone.
You have nothing to lose
Yes, applying for scholarships requires some of your valuable time and a bit of effort. But the rewards could make it all worthwhile; and if you don’t apply, you’ll never know if you could have been successful.
Plus, remember all the benefits associated with just applying:
- Learn (and appreciate) more about yourself
- Improve your researching skills
- Hone the art of creating great applications
- Practise skills that will be useful when applying for jobs
When you look at it that way, surely it’s worth spending some time looking into your options or putting together some applications, right?
Need some more help?
If you need even more reasons to apply for scholarships or just want some money and budgeting tips, you can read more on our website here. Or you might like to browse our free money database to kick off your search.