You may be wondering if getting a scholarship is it's cracked up to be. Sure, it certainly is great to get money that you're not expected to pay back, but they are there any drawbacks to getting a scholarship. As it turns out there are pluses and minuses to receiving scholarship money. The most obvious plus is that you receives a commission that you'll require for school that you will never have to take out in the type of financing. These funds goes towards such things as tuition, room and board, books, supplies, your pc, and anything else associated with school.
You definitely don't wish to look a present horse within the mouth but there's something that you'll be likely to do in order to receive the scholarship money, and receiving it each semester. Many scholarship awards have minimum requirements that you'll be expected to have to get the award to begin with, but you'll also be asked to maintain these minimums each semester you anticipate to keep getting it. What's great about a scholarship is that it's often not a one-off. You can renew it for as long as you go to college, based on if you keep your grades up and meet all other expectations. Some scholarships will need you to maintain a certain GPA, while others expects you to get involved with extra-curricular activities or put in volunteer hours in order to get your money.
If you come to rely on your scholarship money, but have a bad semester, it can be financially devastating having your money rescinded or not qualifying for this for future semesters.
In comparison with grants, scholarships usually have more strings attached, but since they're renewable it balances out. Whenever you get a grant, often it is a one-time award. If you wish to receive it again you have to reapply and obtain re-accepted. The good thing about grants is that you rarely will need to do anything beyond trying to get them. If you obtain a grant and are awarded the grant, the cash just turns up either by direct deposit or perhaps in the type of a check. With a scholarship they're not going to only verify that you're eligible to receive it, they'll seek advice from the school to make certain that you're still keeping the end of the bargain, and all sorts of money is going to be delivered to the college directly to pay for things. You'll only get the leftovers to do with while you please.
Obviously it's better to get a scholarship than to not get a scholarship. Just don't be surprised whenever you discover all of the other stuff that come with you get one. They are usually glamorized and regarded as the Ultimate goal of free money for school. Some scholarships cause stress in the form of maintaining your minimum requirements. It's up to you to decide whether it's worthwhile or otherwise.