A calculator screen reading TUITION FEES as a student calculates how to pay for college through scholarships.

5 Advantages of Receiving Scholarships for College

Scholarships are a great way to afford your college education and enhance your college experience. Following are the most beneficial advantages of college scholarships.

  1. They save you money.

    Whether need-based or merit-based, a college scholarship is free money toward your education. Unlike student loans, you don't ever have to pay the money back. The cash you would spend on tuition can instead go toward other necessities such as food, clothing, or a trip home when you're missing your family. Scholarships reduce, and sometimes eliminate, the need to take out student loans. Every penny you save now puts you ahead when college graduation day arrives.

  2. They allow you to focus on your schoolwork.

    When you're less concerned about money, you can focus more diligently on your studies. Money can be stressful, and the less you have to worry about it the better. Scholarships may even decrease the number of hours you need to work, allowing you the freedom to cram in a few more study sessions before the next big test or to proofread your term paper one last time. More time to study will keep you on track for your entire college career.

  3. They help you graduate on time.

    Scholarships reduce the possibility of needing to take a semester off or cutting back the number of classes you take in order to work more to pay for your expenses. Graduating on time enables you to get into the work force in your field of study as quickly as possible.

  4. They open up future possibilities.

    The scholarship money you receive improves your future. Less debt means less stress across the board. Finding a job can be a more enjoyable experience rather than a perceived emergency. You may be able to take a job you'll love, though it pays slightly less, rather than a job you'll simply tolerate. The money you save can now be put toward post-graduation travel, further education, a new business wardrobe, or even a down payment on a house. The possibilities are endless.

  5. They facilitate fun.

    Think about it: less debt, more study time, reduced work hours, and increased future opportunities. This means more opportunities for socializing, networking, pursuing your favorite hobby, or sleeping in during your college career. Though college is primarily about the education you receive, no one says you can't also have a good time. Many students make some of their best memories and lifelong friends while in college.

Last Updated: February 08, 2017