5 Ways to Assure Financial Security Through Scholarships

There is a common expression in the English language which goes as follows: “Do not put all of your eggs in one basket”. This phrase is most applicable to the world of student finance, scholarships in particular. Scholarships are often very generous. This is true. The issue is that study is often very expensive. As a result, a scholarship, even the most generous around will not cover all of your costs. As a result, you need to apply to as many as possible to ensure financial security. For your personal benefit, I will reveal to you the scholarship application strategies which will best ensure that you are financially secure throughout your studies.

Apply to as Many as Possible

The famous former internationally famous professional Canadian hockey player Wayne Gretzky is well known for being quoted saying that “you miss 100% of the shorts that you do not take”. This applies not only to hockey, or even sports, but absolutely everything in life. This is no exaggeration, and certainly true when it comes to scholarships. In order to ensure financial security when it comes to scholarships and grants, you need to do one thing. You need to apply to as many scholarships as possible. Of course, it is not as simple as that. There are certain nuances which you need to pay attention to, these will be discussed further in this article. You need to take as many shots as possible. This is because your application will not always be approved. This is a fact. The competition is fierce, and you need to be persistent. If you applied to 10 scholarships and grants, go for 15. If you applied to 15, go for 30. If you applied to 30, go for 50. Keep going.

There is another reason for this. The reason is that even the most generous of scholarships and grants will not cover all of your expenses. Some of them are relatively small, too, covering a few hundred dollars. Your financial security will be assured with as many approved applications as possible.

Apply to the Right Ones

It is one thing to apply to as many scholarships as possible, it is entirely another for one to apply to the right ones. You need to apply to as many scholarships as possible, but you also need to use your time in a productive manner. This means doing research beyond finding scholarships. You need to find the ones which suit your profile, not only in part, but fully. As a result, check that the ones that you apply to require that those applying fit your profile. This can be in terms of geographical location, gender, nationality, income, academic credentials, grades, course of study, and many others. This might sound quite obvious, but you need to ensure that your time is not wasted. There is no sense in applying for a scholarship or grant which you are guaranteed to get rejected for. This is common sense, but must be stressed. This is because as you apply to all of these scholarships, you might overlook certain details. Pay attention, and you will find that your time is as much rewarded as possible.

Ensure that Your Application Is as Accurate as Possible

This is another piece of advice that might sound like common sense, but it must be stressed as well. You need to ensure that all of the information that you fill in is as accurate as possible. As a result, check, double check, an triple check everything that you provide to the issuer of the scholarship or grant. There are several reasons for this.

If you filled in the information incorrectly voluntarily, for whatever reason, there is a very high chance that you will be found out. It will happen sooner or later. When you are found out, the consequences can extend beyond the simple reimbursement of the scholarship. The consequences can be very severe. You could get kicked of your course for example. You could even have to face legal action in the end. Do not make this mistake.

If you filled in the information in by accident, the consequences can be just as grave. Even if you were being as honest as you could possibly be, you will still have to pay. The result is the same as if you filled in the information incorrectly if you get approved.

Finally, your application could be rejected from the wrong reason. You could be eligible, but filling it in could result in rejection.

Work Hard on Each and Every Application

This is another thing which might sound like common sense, but it is important, especially given the number of applications that you will be filling in. You might be tempted to copy and paste the same information for each scholarship. In fact, because each and every one is unique and therefore different, each and every one of your applications much be tailored for each and every scholarship and grant. Once again, you might end up wasting your time if you do not tailor your applications. You need to maximize your odds of being accepted. Tailored applications are the way to do this. It will increase the amount of time that you spend on them, but this time will be used in a much more effective manner.

Budget Effectively

Once you have all of your scholarships, and managed some sort of assurance in terms of financial security for your period of study, you still need to budget effectively. There are several posts on this Bursary.me which will go over the details. The basics include minimizing your expenses when you go on outings. For example, walk or cycle instead of taking taxis everywhere. You might want to cook at home instead of eating out. These are only two basics. In order to find out more, check out the rest of Bursary.me.

Thank you very much for reading. I hope that this was helpful to you. If you have any questions, please to feel free to comment and start a discussion. Your voice will be heard, and we will do our best to ensure that all those using our site are best served. You might have your own suggestions, too. Also subscribe and receive some of the best objective information on scholarships and bursaries around the world.

Source : financialaid.byu.edu

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5 Responses to Know that You Need as Many Scholarships as Possible

1. Highly appreciate your guide. Thank you.

2. There is always rewards in diligence, and persistence.

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5. Such great and big things happening. Appreciate