Scholarships are a great way to help pay for college, but they are also incredibly competitive. In fact, only 7% of students are likely to receive a scholarship. Even fewer, only 1.5%, will receive a full scholarship. With such slim odds, it’s important to understand the landscape of scholarships and how to increase your chances of getting one.
According to the National Center for Education Statistics, $8.8 billion was awarded in need-based scholarships in the 2018-2019 school year. This is a huge amount of money, but it’s important to remember that it is spread out among millions of students.
The chances of getting a scholarship vary greatly depending on the student’s race and ethnicity. White students have a 14.2% chance of getting a scholarship, while minority students have 11.2%. This discrepancy is due to the fact that scholarships are often geared towards minority students.
In addition to race and ethnicity, the type of school you attend can also affect your chances of getting a scholarship. Students who attend private schools are more likely to receive scholarships than those who attend public schools. This is because private schools tend to have more resources to award scholarships.
Finally, the type of scholarship you are applying for can also affect your chances of getting it. Scholarships that are merit-based, such as those based on academic achievement, are more competitive than need-based scholarships.
Getting a scholarship is a difficult task, but it is not impossible. By understanding the landscape of scholarships and how to increase your chances of getting one, you can make the process easier. With hard work and dedication, you can make your dream of getting a scholarship a reality.