Scholarships empower students. Even smaller scholarships have the potential to dramatically change the life of a student going through post-secondary education. Scott Cooper Miami believes in the empowerment of people to seek out a better future for themselves and their families. One way to do this is to provide educational scholarships.
Cost as a Barrier
One of the largest barriers to entry for post-secondary education programs, especially universities and colleges, is the cost of enrollment. Cost is a huge barrier that prevents people from attending any sort of education beyond high school. Low-income families have difficulty sending their children to four-year educational institutions without aid. Financial aid can create huge debt for low-income students. This debt is something they’re likely to struggle with for decades after their graduation, impacting their chance at a successful financial future for themselves and their families. Scholarships allow more students from low-income families to enter a higher education institution by providing the help they need to afford their post-secondary education.
Students often work while they’re studying, especially if their family is unable to support their everyday financial needs such as housing, food, fuel, and other daily bills. Working while studying has been shown to have a negative impact on the results most students receive. The need to work divides a student’s attention and may cause them to perform poorly in classes they would have otherwise succeeded in. A scholarship can often be applied to everyday expenses, including textbooks and rent or meals. If students can avoid working while they’re studying, they’ll be able to give their full attention to their education and they are more likely to perform well.
Graduation and Completion
Cost and stress or poor performance associating with dividing attention between education and working can all influence graduation and completion rates for post-secondary education. Students are often unable to continue due to financial reasons, putting them in a tricky spot, especially when student loans start to become eligible for repayment. Failing to graduate from your program or complete your education can still be an improvement over having no post-secondary education at all, but it will have a significant impact on future prospects. Scholarships can help to improve graduation and completion rates by reducing the financial burden placed on each student.
After post-secondary education is finished, finances are tricky for most graduates. Because of the need to repay student loans soon after graduation, students must look to integrate into the workforce immediately and will bear a large financial burden for many years. This is going to change the course of their career and give them less flexibility to grow and move forward financially. Unlike grants and loans, scholarships don’t need to be paid back. Students who receive scholarships don’t need to stress about how they’ll begin to repay them. They’re free to focus on beginning their career and starting their working life on the right foot.