In 2018, CBC news reported that “millions of scholarship dollars go unclaimed each year in Canada”.
In opposition to this statistic, though, stands the perception that it’s nearly impossible to win a scholarship.
So, what are the chances that you or your child can win a scholarship?
The honest answer: it depends.
Winning a scholarship is based on a variety of factors including the strength of an applicants profile, personal essay, and the selection criteria set out by a scholarship committee.
But, here is something every single student and parent needs to know: winning a scholarship does not require perfect grades, extensive extracurricular involvement, or some other type of excellence. Indeed, you may need these for some scholarships, but not for all.
In short, it is a myth that only perfect students win scholarships.
So, in reality, here’s the most important thing to know about your or your child’s chances of winning a scholarship: it all boils down to a student’s fit with the right type of scholarship!
Understanding Different Types of Scholarships
Understanding eligibility requirements, types of scholarships, and when to look for scholarships helps to connect students with the right awards – those suited to their unique profile.
There are many types of scholarships. There are awards based on ethnicity, gender, race, major, year of study, and so much more.
If you apply this knowledge to your scholarship search, it could greatly decrease the level of competition you face. For example, if you focus on finding scholarships for women in tech, scholarships for engineering, or whatever is unique to you or your child, that instantly makes the pool of potential applicants smaller. This increases the odds of winning a scholarship.
Now, let’s take a look at some prominent types of awards and some general criteria. This can help focus your award search.
Prominent Types of Scholarships and Their Criteria
Grades and Merit Scholarships
To be a merit scholarship recipient, you must have strong grades and/or a track record of high-impact service. Typically, you need to have a minimum GPA of 3.0 to qualify for any scholarship money of this kind. Competitive scholarships usually require an even higher GPA.
If your GPA falls below this threshold, you may want to focus on other types of awards better suited to your profile.
Extracurricular Activities
Your chances of winning a scholarship may also depend on your extracurricular activities. The more involved you are, the better your odds of winning. There are many other ways to get involved, make an impact, and build a strong scholarship application.
Examples of extracurricular activities that could help you win a scholarship include:
- Student government
- Community service (volunteering at a local shelter or soup kitchen)
- Blogging
- Art
- Writing
- And much more…
Financial Need Scholarships
For many scholarship competitions, your odds of winning depend on your financial need.
If you qualify for aid under your province’s student loan program, you may be eligible for scholarships and grants that cover tuition and fees.
If you’re in this category, you may also search for bursaries, which consider need as a necessary eligibility requirement.
Ultimately, Increasing Scholarship Odds Requires Strategy
In addition to understanding the points above, one of the best ways to increase your or your child’s chances of winning a scholarship is consistency in effort. If you schedule success, I sincerely believe that you’re much more likely to earn it. So, here are some tips to increase your chances of landing an award:
- Strategic Selection: Carefully choose scholarships that align with your profile.
- Consistent Effort: Dedicate small increments of time regularly to the application process.
- Targeted Approach: A focused strategy outperforms randomly applying to various scholarships.
If you’re unsure where to start, but want a leg up on the competition, check out our masterclass. It offers high-level insights for students and parents on each part of the scholarship-winning journey.
Takeaway
The chances of winning a scholarship vary widely depending on the person, their situation, and available scholarships.
So, is it worth your time and investment of energy to apply for scholarships?
Well, while you might not win every award, your time and effort will be worth it even if you win only a single prize. Scholarships and awards bolster résumés and help students stand out. Whether it’s for post-graduate education opportunities or competitive employment competitions, scholarships convey a track record of excellence. That alone is worth a lot.
Christopher Grafos, Ph.D., is the founder and chief scholarship mentor at BridgesEDU Scholarships.
He’s a first-generation university graduate whose life was transformed by education and winning scholarships.
Scholarships help students financially, but they also help advance a student’s career. It’s his life’s work to champion this message and share the secrets to finding and winning scholarships.
Read more about Christopher’s journey here.
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Original post here: What Are My Chances of Winning a Scholarship?
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