Five Reasons Every Student Should Apply For Scholarships
Many students underestimate the importance of a scholarship. There are numerous colleges, universities, organizations, and individuals offering scholarships to help today’s youth obtain a good education. In the modern world, scholarships have become essential for most students seeking a college degree, and it is imperative the student apply for as many as possible to increase their chances of being accepted. The process is not difficult, so applying for numerous scholarships should not present a problem. There are five very important reasons why scholarships are becoming critical for most of today’s generation.
The Increasing Costs of Education
In the past, college was a lot less expensive, but the price is consistently rising. The costs for out of state students are even higher than those who attend college in the state in which they reside. According to a study conducted by the College Board, the tuition fees for a four-year public college have been increasing by five percent every year since 2000. This figure even exceeds the costs of inflation. The tuition for the four-year private colleges and both public and private two-year colleges is increasing three percent each year. Although there are some colleges charging a lower fee for tuition than others, the overall cost is staggering. A scholarship will help cover most, or all of the tuition fees, making it possible for a student to receive an education otherwise unaffordably.
The State of the Economy
Although the economy has been improving, many families are still having a difficult time keeping up with their expenses, and are unable to afford the costs of a college education. Despite the fact families want to send their children to college, this is not always possible. Recent studies have shown while the number of families only able to cover a small portion of college expenses for their children has increased, the number of families capable of covering fifty percent or more of the tuition has significantly decreased. According to a survey by the consulting firm Longmire and Company, 33 percent of the families are only able to contribute a maximum of $5,000 to their children’s college education. One answer is the Bellesoma Method Scholarship. As the costs of college tuition, textbooks, additional course fees, and school supplies continue to increase, a scholarship often makes the difference between a student attending college or being forced to get a job paying minimum wage.
The Expenses of College Living
Some students are able to live at home while attending college, but for many, this is simply not feasible. The costs of living on campus, renting an apartment, and paying for supplies, books, and groceries is a lot more expensive than it was in the past. When these expenses are added to the increased cost of tuition, a scholarship may be the only option that will make a difference.
The Support from the State
In the past, many students were able to receive a portion of their college tuition from the state. Unfortunately, as college tuition has continued to increase, state support is decreasing. The American recession has left many public services and programs reeling, and they have not had enough time to recover. One of the biggest cuts the government has made is in funding for public services. Unfortunately, this also included higher education. This has led to an even greater increase in tuition by both public universities and colleges, driving the cost of a good education even higher.
The Collective Debt
The people living in the United States have an extremely high debt ratio. Approximately 25 percent of the population of the United States, or seventy million people, have a student loan debt in excess of $700 billion. This has been caused by a combination of inflation, the troubled economy, and cuts to public education. The debt of the typical college graduate is $24,000. This represents the amount of money the student had to borrow to pay for college. According to the experts, this amount will continue to increase, and maybe the financial bubble of the future. For all these reasons and more, a Bellesoma Method Scholarship represents an incredible opportunity for college students.
The Importance of Attending College
Attending college is crucial for the future of the students. The average salary for a college graduate is over $20,000 per year more than a student with only a diploma from high school. A college degree means the individual will not be struggling financially for their entire life. Despite the cost of tuition, and having to pay off student loans, a college graduate has more financial security. Scholarships stopped being a nice incentive a long time ago, now they are critical for paying the difference between the actual tuition, and the amount the family is able to contribute.