Scholarship Search Secrets
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Make optimal use of Internet technologies to find scholarships.
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Basic Scholarship Search Tips
Next, let's get into some basic scholarship search tips.
Tip #1: This is a numbers game!
Numbers matter in the grand scholarship quest. The more awards you apply for (assuming you are eligible for them), the more awards you are likely to receive.
Set your expectations by the rule of 10 - for every scholarship you are awarded, you have to apply for 10. For every scholarship you qualify and apply for, you'll need to research 10 opportunities.
- 100 opportunities you find
- 10 scholarships you qualify for and apply to
- 1 scholarship award you win
Happily, at last count, there are approximately 2.4 million scholarships available, worth approximately $14 billion in aid. The bottom line: to get more, apply for more.
Tip #2: Small is the new big
Small is the new big, says author Seth Godin. While Godin is referring to the size of a business, his advice is equally applicable to scholarships. If you are awarded 10 scholarships for $1,000 or one scholarship for $10,000, the net effect is the same - you don't pay that $10,000 out of pocket or in loans. Every scholarship for which you are eligible is worth applying for, because a bunch of small scholarships will add up to a big one.
More importantly, smaller scholarships tend to have fewer competitors than larger ones. Most people in their scholarship search try to apply for a few big awards and neglect the smaller ones. Bryan Person, a listener of the Financial Aid Podcast, commented on one episode that his wife applied for a small nursing scholarship and was told she was one of two competitors because the scholarship wasn't a huge one. A 50% chance of winning is a bet you should definitely take!
