Scholarships help to lessen the impact of rising tuition costs.
Tuition is on the rise nation-wide and scholarships give access to higher education for students of all income levels.
Scholarships help students have more time to focus on their studies.
Research shows that work can take up more than 15 hours per week and becomes an impediment to academic success. For many students the stresses of working make it difficult for them to graduate on time, or graduate with the high grades they have the potential to achieve. For other students, the work/study life is unsustainable, and they discontinue their studies all together.
Scholarships decrease the number and amount of loans students need to take to complete higher education.
Two-thirds of college students now graduate with loans, and their average college debt is nearly $20,000 — an increase of more than 50% since the early 90's. People involved in shaping public policy and allocating funds often view loans and grants on the same level as "aid".
Scholarships add to federal and state financial assistance.
Many students do not qualify for federal aid as federal policy has long been focused on access for low-income students. States and colleges have become increasingly focused on getting high-income, high-achieving students to attend their institutions or to remain in-state.
Scholarships can fill the gap.
Scholarship assistance can support students who fall in the gap between high and low income levels — students who may not qualify for a need based scholarship and who do not meet the criteria for a merit based scholarship.
Scholarships teach philanthropy.
By being the student recipient of a scholarship, it is hoped that the students will become philanthropic themselves and "give back" when they are financially able.