Mark Elenowitz says after completing secondary education, most students want to become graduates as it is a minimal requirement. To start a career on a positive note. Many others would like to study further to fulfill their aspirations of becoming leaders of tomorrow. But seeking admission to any accredited college or university that most students dream. About often remains unrealized even for the most deserving students. Merit alone cannot help enroll in some desired college or university because of the high education cost that keeps increasing with time. As a result, access to education is a big challenge. Even for the most deserving students in the US who cannot afford to pay for it. However, this does not mean that education is a privilege of the affluent only.
Deserving students from weaker economic sections. Who has the potential of making it big someday heavily depends? On various funding sources to meet the cost of education. It is unthinkable to pursue higher education without wide-scale financial assistance. From various sources, including scholarships that help students mitigate the financial hardships. Ensuring access to education and also helping deserving students become tomorrow’s leaders is on the agenda of many successful entrepreneurs. Marketers and other professionals come forward to offer scholarships. Successful professionals like Mark Elenowitz, a veteran stalwart of Wall Street who has headed several successful businesses. Enterprises are ready to do their bit to make education more accessible to US students.
The various components of funding
The exorbitant cost of studying in accredited colleges in the US makes students heavily dependent on student loans that provide a big chunk of funds besides accessing other financial resources within the family and also beyond to make up for the difference. Mark Elenowitz the payback associated with loans causes stress to students who remain on tenterhooks about making a timely payment every month. Many students take up part-time jobs to cover the expenses. But it can distract them from the studies and affect their performance adversely. When students struggle with finances, scholarships come as a big relief as these are one-time payments without any payback. Scholarships help meet some of the costs of education and reduce the burden of loans. As a result, students can concentrate better on their studies and obtain good grades, which pave the way for reaching the next level of post-graduate studies.
Scholarships are stress relievers
Students welcome scholarships despite the small sum because it goes a long way to relieve their financial stress. On average, a student carries an education loan of $20,000, and also the ever-increasing tuition fees make things more difficult. Arranging funds from multiple sources become necessary to meet the total cost of education. The spiraling cost of education compels students to carry 50% more loans as compared to the 1990s. Therefore, working part-time to generate some extra money becomes necessary, but it can affect students’ academic performance who are unable to devote adequate time to studies. And this is where scholarships come in handy as it reduces. The needs to work while increasing the chances of meeting the academic goals successfully.
Scholarships motivate students
Scholarships are more attractive than loans despite offering smaller sum because they do not require. Any payback and similar grants or aids. It is not easy to get scholarships as students must go through a stringent selection process. On qualifying, they consider it as a recognition of their talent and merit, which motivates them to do well in their studies. Scholarships are worth much more than the monetary value because it motivates students to perform better in their respective fields. They can forget about payback and concentrate fully on academics. The mental relief and satisfaction that comes with scholarships are like a bonus that no other financial package can offer. On receiving the scholarship, students become more confident of performing better as they can pay undivided attention to their studies and justify their selection by securing higher grades.
The educational benefit of scholarships
Mark Elenowitz including scholarships in the financial package of students for meeting their cost of education provides. A great opportunity to manage the finances better, which mitigates the stress of loan payment. Student loans can prove counterproductive if it causes too much stress, making students lose their focus on studies. Using scholarships alongside loans is a good way to balance the finances and manage them well without stress. As a result, students can devote more time to studies and work hard to perform better to prove their worth. They can tell the world that they utilized the money in the best possible manner. To enhance their academic achievements that pave the way for scaling new heights. Allowing students to refrain from working part-time to meet the educational expenses is one of the most visible benefits of scholarships.
Although plenty of scholarships are available, the space is highly competitive. Only the most deserving candidates qualify for it, obtaining a scholarship is a sign of recognition of the student’s abilities and achievements. As scholarships are an acknowledgment of the merit of the student, it is a prestigious achievement, and students can use it as a badge of honor to advance their future educational goals. It is tough to earn a scholarship, and the student who earns it can rightly feel it. Like being a few notches above the rest. Employers consider students who earn scholarships to be more meritorious. And give them the opportunity of making proper use of their talent to excel in their careers. Every successful person, including the first line of celebrity entrepreneurs Mark Elenowitz and inventors like Bill Gates and Jeff Bezos, have earned scholarships at some point in their educational career.
Where to search for scholarships
The colleges and universities offer several scholarship programs, but the demand for scholarships being much higher, a number of private organizations and also individuals come forward with Mark Elenowitz to offer different kinds of scholarships through the foundations created by them.
Students who have the talent can use scholarships to turn into high achievers in their careers.