What are Myths about International Scholarships and Financial Aid?

There are several misconceptions about receiving scholarships and financial aid. These fallacies can have negative consequences when it comes to applying for scholarships to study abroad. 

Over 65% of students who intend to pursue their higher education abroad rely heavily on scholarships and financial aid. It is advisable to consult a study abroad consultant before choosing a university abroad to pursue higher education. 

Seasoned financial aid counselors can guide you through scholarship programs in different countries and universities. This will help you in shortlisting colleges and universities that will complement your skills and passion. 

There are certain beliefs about scholarships and financial aid that need to be busted-

1. Be a class topper to get the scholarship

Scholarships are awarded to students of all academic abilities. Yes, those with higher marks have a better chance of winning, but with all kinds of scholarships being introduced by universities, especially for foreign students, everybody stands a fair chance.

Not all awards are determined by academic achievement. In actuality, grades only account for fewer than 10% of private scholarships. Every scholarship sponsor searches for applicants who meet their requirements, and this process appears different in each case.

2. If you are a minority, you are privileged

Gender, race, and sexual orientation are commonly used to categorize people as minorities. It is widely believed that students from the minority section stand a higher chance of getting scholarship benefits. The reality, however, is quite contrary. Not minority students, but Caucasian students, receive an excessive number of scholarships. Only 28% of all scholarships for higher education go to minorities.

3. Sportholics are flooded with scholarships

It's a myth that only athletes receive scholarships. Private scholarships are more commonly received by students than sports ones. College students have access to more than $24 billion in scholarships each year. 

4. Scholarships can only be awarded to the poor

It is a big misconception among the masses that scholarship plans are exclusively for the less privileged. Compared to low-income or wealthy students, middle-class students have a higher chance of receiving private scholarships. This is because the majority of private scholarships are not need-based.

5. Seniors in high school apply for scholarships

Each grade level—elementary, middle, high school, college, and graduate students—can submit a scholarship application. In reality, every student is eligible for scholarships depending on certain criteria. 

The Takeaway 

Numerous students and their families fail to receive the aid they are entitled to each year as a result of these misconceptions regarding scholarships and financial aid. Avoid belonging to this unlucky gang. Most federal and state aid is determined by financial need, not academic performance. Grades don't matter as much for private scholarships as you would believe. 

Due to a lack of knowledge and awareness on the part of parents and students, as well as false information being spread by dishonest agents, several myths about scholarships and financial aid have emerged. This is unquestionably a significant reason for worry and may have an impact on the plans of many aspiring students who want to study abroad.