5 common scholarship myths busted!

By Tkrause
05/29/2015
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You know that college is expensive, right? So, why haven't you started applying for scholarships? Let us guess — you don’t think you're eligible or will be able to win one. Or, maybe you think you're all that and colleges will be throwing money at you. Thousands of students miss out on free money for college every year because they mistakenly believe some silly scholarship myths that are still floating around or they have unrealistic expectations. So, we're here to set the record straight in a little game we like to call Bust-a-Scholarship-Myth!

Myth #1: My GPA is way too low to qualify

bad grades
Courtesy of missliterati.com.

BS! Not all scholarships are merit-based (grades or test scores). In fact, many programs reward students for talent, athletics, creativity, or other non-academic skills. Even if your GPA is hovering below a 3.0, plenty of scholarship programs are still open to you — like our $10,000 RESIST THE IST: DEFY STEREOTYPES Scholarship.

Myth #2: My family makes too much money

family money
Is there such a thing as too much money? Courtesy of pixgood.com.

Guess again! Unless you are applying for a need-based scholarship, most providers will not even ask about your family’s income. And, what you may think is "too much" income may actually qualify for some need-based aid at certain private colleges. Never assume you're not eligible until you've read ALL the scholarship program details.

Myth #3: I’m on the varsity team so I'll get a fat scholarship

athletic scholarships
Even your cool moves may not help. Courtesy of survivingcollege.com.

Sorry to burst your bubble, but the odds are not in your favor. Only two percent of high school athletes actually receive an athletic scholarship. And of those who do, very few receive enough aid to cover all their expenses. In fact, most athletic scholarships range between $342 and $14,660 a year, depending on the sport and the division.

Myth #4: I have a 4.0 so I’ll get a full-ride scholarship

merit-based scholarships
Courtesy of Perez Hilton.

Don’t count your dollars just yet. While we commend you on your awesomeness, less than 20,000 students receive a full-ride scholarship each year. Even if you have a perfect GPA and a stellar résumé to boot, you shouldn't expect colleges to throw large sums of money at you. But, if you want to increase your chances of winning one, think outside the box and look into smaller, lesser-known private schools where you may still be a big fish in a little pond.

Myth #5: I can't apply until senior year

wait what
Surprise! Courtesy of reactiongif.org

Wrong! If you wait until senior year to start searching and applying for scholarships, you're already three years behind the curve. Many scholarships are actually open to students 13 years and older (and some even younger!), which means you could have been building fat stacks in your college fund by the time you reached senior year. When it comes to scholarships, there's only one thing you really need to remember — the more often you apply, the more chances you have to win. And we can help you. Check out our free scholarship search tool, and we'll match you to scholarships that are perfect for you!

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