The “Myth” of the Full-Ride Scholarship

“Well, so-and-so’s kid received a full-ride scholarship!” 

We’ve all heard it: the dialogue around the greatly sought after, fully-funded college education. Whether through academics or athletics or general aid, every parent and student has pictured the possibility of not having to worry about paying a dime in order to get a valuable degree.

Unfortunately, the full-ride is unbelievably rare. Less than 20,000 students in the United States per application cycle receive full ride scholarships. Only .3% of students receive enough scholarships and grants to cover their college expenses. (FastWeb)

These numbers are definitely depressing. The reality of college costs in 2022 is that very few college educations will be free. With the rising cost of tuition yearly, it’s definitely frustrating to hear.

Never fear! There are ways to receive some help. Here are some tips on how to get the most bang for your buck:

  1. Start college planning with us. I know what you might be thinking, “Ugh, an ad!” Yes and no. As an advisor that has worked with dozens of students, having some professional help really does make a difference. We advise on so many important things, including ways to get $$$! It’s really beneficial to have a professional in your corner to help with the ever-changing college world. You wouldn’t buy a home without some professional help somewhere, right? College is the same way.
  2. Have some options. It’s understandable to want to go to a “name-brand” school. Your dream school is always something cool to aspire towards, but is it really the best option financially? It doesn’t make sense to go to a school for $60,000 per year when there’s a perfectly awesome school that’s way less expensive for you. 
  3. Pathways after college. Make sure that 1. You know what you want to do after school so you’re not wasting time and money and 2. That the school you choose leads to beneficial pathways in your desired field.
  4. Still apply to scholarships. Every dollar helps. It’s still important to apply for as many as possible even just to have the chance for some additional aid. 

All in all, college is ridiculously expensive. It doesn’t mean that it’s not valuable, but it does mean that it’s important to consult a professional or understand that you may have to make some decisions when it comes to getting a degree. Regardless, there are so many options out there, which makes it a little bit better.

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