When searching for financial aids, most students will think of “Scholarship”, which is the free money sponsored by government and private sectors to students who meet their eligibility requirements. Many myths and misunderstanding about scholarships get passed around the halls of high schools and among the parents of students getting ready to go to college, causing them to focus too much energy on searching for these awards and get ignore on other financial aids sources which are more abundant than scholarships.
Before you start to search and win the free money: scholarships, you should understand the truth behind these misconceptions so you will not be taken in by them. Here are 3 of the common misconceptions about scholarships:
Misconceptions # 1: Billions of dollars’ worth of scholarship money goes unclaimed
Among the biggest myth about scholarship is that billions of dollars’ worth of scholarship money goes unclaimed each year, just waiting for a savvy student like you to come along and scoop it up. This misconception is potentially cause by certain marketing activities campaign conducted by potential scams which they use in an effort to get you to hand over your money to them.
The truth, according to most college financial aids offers, is that almost all available scholarship money is given out each year. There are some scholarships not awarded usually due to applicants who apply for those scholarships are not meeting the eligibility requirements. But these unclaimed scholarships are just a small percentage of the total scholarships given out each year, and those scholarships which are failed to be awarded usually have highly restrictive eligibility requirement
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You may hear about 75 percent of all private financial aid went unclaimed last year. The fact is this figure does not refer to scholarships at all. What is actually refers to is tuition assistance offered by companies to their employees.
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