Briefly describe the reason of applying and impact of scholarship on the child's education.
Answers
you can't afford not to apply for scholarships in 2011.
1. College costs a lot more than it used to. According to a 2010 Trends in College Pricing report by College Board, since the year 2000, public four-year tuition and fees have increased more than 5 percent annually above inflation. Tuition at public two-year colleges and private four-year colleges also increased by 3 percent above inflation.
2. The economy stinks, and your parents have no money. Well, hopefully that's not 100 percent accurate, but there's definitely some truth to that statement. While parents still very much value contributing to their children's college tuition, the amount that families can afford to contribute has declined. A study commissioned by lender Sallie Mae and conducted by Gallup found that the number of families who planned to cover few if any college costs had risen while the number of parents expecting to cover more than half of the costs had dropped. A similar survey conducted by Longmire and Company, a higher-ed consulting firm, found that 33 percent—the largest percentage of parents—said they planned on contributing less than $5,000 to their child's college tuition, barely enough to cover four years of textbooks.
3. The cost of college living is up. Unless you plan on living at home and commuting to school—a very good option for a lot of college students—plan on paying a lot more than your older brother or sister paid for your apartment, food, books and supplies. All of these things have gotten more expensive.
4. State support for students has decreased substantially. Although it looks like America may have weathered the worst of the recession (let's hope), many states are still reeling from the economic slump and most have made large cuts in public service funding—including higher education. As a result, public colleges and universities have increased tuition, meaning you're probably going to pay more now.
5. People owe a lot of money. One quarter of the U.S. population—70 million people—owe a collective $700 billion in student loan debt. Sounds like a lot, doesn't it? It is. According to the Institute for College Access and Success, the average college graduate has acquired $24,000 in student loans by the time they graduate, and that figure is likely to increase. Experts say this may be the next financial bubble to burst.
The relationships of between a child's education and a child's scholarship is that of complementary in nature.
There are several reasons for a child to apply for a scholarship:
- If a child applies for a merit scholarship, that gives the child's confidence a boost by achieving the scholarship. Its like an award or medal in exchange for their hard work.
- If a child applies for a need based scholarship then that helps them with their financial condition. Their education is getting funded and that removes some burden off of either them (if they're on a loan) or their parents.
- It is an achieved opportunity for those who might miss out on studying just for the sake of education resulting too expensive for them.
Impact:
- a scholarship could mean the difference between a person practically getting an education or not.
- it boosts confidence and ego.
- it gives opportunity.
- it helps financially.
- it provides emotional help, by removing a burden or tension for a child and or his/her parents'.