Why Are Scholarships Vital for Low-Income Students and Families?
The cost of education has increased a lot in previous years, a US News & World Report says. This report shows that fees for private universities have increased by 126% over the past two decades. Meanwhile, fees for public universities increased by 112%. With such a terrific rise in fees, low-income families are not able to cope with these rising costs.
But then, what about the dreams of the younger generation? Worry not. The good news is that the scholarships are your hope to lower your stress. They not only help you maximize financial aid but also help create a better future for you.
In this blog post, we will explore “Are scholarships for those in financial trouble.” Also, we will discover how they can help you to tackle the challenges of higher education.
What is a Scholarship?
A scholarship is a financial reward with which you can afford all your educational expenses. Usually, it covers your tuition fees, the cost of books, and many other study expenses.
According to stats, almost 58% of US families are using scholarships to pay their college fees. However, you get them based on different criteria. You can earn these for your outstanding academic performance, to meet financial needs or future goals.
What Can a Scholarship Be Used for?
You can use scholarships for your different educational expenses. Mostly it covers:
Tuition Fee: Tuition fees are one of the largest expenses for educational institutions. It is the fee for classes during a semester, and the scholarship covers it very well.
Books: With the scholarship, you can pay for books, notebooks, and all other essential supplies that you need for your studies.
Living Expenses: Some scholarships also pay for your hostel room and meals. If you are living off-campus, it covers your rent and groceries.
Travel costs: Some scholarships also cover your travel expenses like bus fare or expenses for commuting to campus.
Importance of Scholarships for Low-Income Students and Families
Now let us take a closer look at how scholarships help low-income students achieve their dreams:
Provide Financial Relief
You might know that the average cost of college in the United States is $35,551 per student per year, which is a huge burden on students.
Because of this, students start thinking of taking heavy loans or indulging in multiple jobs, finding less time to study. Some students also delay their career goals only due to financial restaurants.
But now, there is an excellent opportunity for scholarships. They save you from taking such steps and reduce this burden by covering a major part of overall education cost.
Minimize Student Debt
Student loan debt is another major concern. According to U.S. News & World Report, the average student loan for the class of 2022 was $30,000, which is a great amount.
Students need to return this loan with heavy interest rates which has a huge financial burden on them when entering career life.
You can avoid these loans by applying for scholarships. In addition to covering all of your educational expenses, they give you financial freedom when you start your career without stressing about paying back any amount.
Improve Academic Performance
Financial stress undoubtedly affects a student's academic performance. Scholarships relieve your stress and allow you to perform better in studies as well as extracurricular activities.
Also, there are many merit-based scholarships that motivate students to score higher and get a reward.
Increase Access to Higher Education
Did you know that 85% of adults in the US who did not enroll in higher education or stepped out were because of the high cost of a degree?
But the good news is that scholarships have now broken this financial barrier.
Despite their financial backgrounds, they provide all talented students with opportunities to pursue higher education.
Enhance Career Opportunities
In the US, if you have a college degree, you are more likely to have greater annual earnings than with low levels of education. Scholarships play a great role in making this college degree accessible.
In other words, scholarships make education finances manageable for you, open new doors of employment, and provide high earning potential.
Ensure Equality in Education
Scholarships also support the United Nations’ Sustainable Development Goals (Goal 4). They ensure everyone gets equal access to education.
So, if you are not from a wealthy family, you can get as much equal access to educational opportunities as your wealthy friends.
Best Scholarships Provided by Kulpa Foundation to Empower Education
Now that you are aware of the role of scholarships in empowering education, let us see how the Kulpa Foundation can facilitate your educational path. Currently, they are offering the following scholarships:
Anyone facing financial difficulties in pursuing their education can avail of this scholarship. It eases your financial burden of college and university tuition fees.
If you are a student and have sudden medical expenses that are burdening your life, this scholarship will assist you on a short-term basis.
If you have any learning disability, this scholarship is best to help you overcome educational challenges and achieve a higher degree.
Conclusion
In short, if you need any financial assistance to continue your education, scholarships are the best way to do so. Apart from relieving financial stress, they save you from student debts, provide access to higher education, and unlock many career opportunities.
By getting scholarships from the Kulpa Foundation, you can get a better education and high-earning jobs. So, let’s look forward to a more equitable education system!
FAQS
Is Scholarship a financial aid?
Yes, it is a form of financial aid that covers all your educational expenses. Unlike loans, you do not need to pay back anything.
What types of scholarships are there?
Different types of scholarships include merit-based scholarships, need-based scholarships, sports scholarships, and program-specific scholarships. They are offered by the government and various private organizations.
Does the scholarship cover all educational costs?
Some scholarships cover all educational costs. At the same time, other scholarships cover major funds only. So, always check the details of scholarships before you avail one.
