There are significant benefits of getting a scholarship to contribute towards, or pay in full, the fees associated with studying at college, graduate or business school, particularly as the cost of studying continues to increase. Whilst many scholarships only cover the tuition fees and books, it is also possible to find some that will contribute to any living expenses that you incur whilst you are studying.

For some students, receiving a good scholarship is the only way of paying for higher education, and many of the scholarship funds have been set up with the sole objective of making higher education opportunities available to those who may not otherwise be able to afford it.

Unfortunately, many students end up working 30 to 40 hours a week to earn money to pay for their tuition expenses and they fall behind in their studies, ultimately dropping out of college. The obvious attraction of receiving a scholarship is that once you qualify, all your educational expenses will be taken care of, which allows you to focus your energy on graduating from your chosen course of study.

To encourage higher educational standards, educational institutions and government bodies set aside significant sums of money every year to award scholarships and all you have to do is apply for them.

There are also many private scholarships available, some of which are specialized and available to certain individuals or groups of individuals, such as athletes, minorities or students involved in community services. Most of these are awarded through the Scholarship Office and various departments within the college or graduate school, so you should check with them early on.

To improve your chances of finding a scholarship that you are eligible to apply for, you should aim to start your research well in advance of when you will need this. You should build a list of possible scholarship providers to apply to as early as possible so that you can apply for the maximum number of scholarships.

There is no limit to the number of scholarships you can apply for so keep your records up to date as you may receive follow up requests for information and need to refer to a copy of your original application form

Another advantage is that you do not have to repay any scholarship funds received, as these are very different from loans. If you are awarded a scholarship, when you graduate you will not have to find ways of repaying the money received.

As scholarships tend to be awarded on merit, there will always be certain eligibility criteria that you must meet to be selected, so be sure to check these carefully before submitting your application. It is also important to remember to apply early as nearly all scholarship awards have fixed deadlines, and if you apply after the deadline your application will not be accepted.

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