The issue about the rising cost of education is not new for everyone, be it for rich people or for the those just barely earning a living.
However, this is not of so much of a threat for those who want to enter college but are not capable to meet its expenses. This is because of the two choices made available for them, first is the scholarship programs. And the second is the student loans. They may apply to either of the two.
Basically, the scholarship gives off monetary award which do not require the beneficiary to repay it. Unlike the student loan, the money that was lent to the students will be paid after some time with the corresponding amount plus interests.
Hence, it seems to be apparent that taking a scholarship program is more convenient than the student loan. Yet, you should know that both still consists of its advantages and disadvantages.
In scholarship, the students need not worry about finances throughout his college years. Almost thousands of scholarships are made available yearly. The systems of the programs depend on the financial needs of a certain student.
Although, it doesn’t necessarily mean that you are not intelligent because you were not be able to acquire a scholarship. There are various types of scholarship, one is for the intellectuals who acquire and maintain high grades. The other is the specific scholarships designed for the ones who excel in definite fields, for instance, in the field of sports, math, science, music, stage performers and others.
Those who belong in average I.Q. may still win a scholarship. They may not possess the remarkable level of intelligence to win a scholarship, but their talents may secure them one.
Moreover, there are also scholarships designed for certain races, minorities, and other sectors of the society that needs monetary support. And scholarship is not just confined to college students, the students who would want to pursue further study may also benefit.
There are also several institutions that offer scholarship programs to their members, examples of this are the religious organization and union groups, etc.