Mitchel Zelman Discusses How Scholarships Are Lessening The Financial Burden Of Higher Education

Around the world, students are heading off to college or university. Some are heading off for the first time while others are returning after taking a few years off to work or raise a family. Regardless of which category they fall into, most students will at some point have to look for scholarships in order to ease the financial burden of higher education.

It's important to remember that applying for scholarships doesn't have to be a daunting task. For some, it may seem like a lot of work while for others the thought of putting together an application makes them cringe. Regardless of which category you fall into, scholarships can and do play a key role in lessening the financial burden of higher education.

Mitchel Zelman is an enthusiastic supporter of scholarships and wants to see more students win them so they can ease the financial burden of higher education and get a jump on building a career.

Reduce The Overall Cost of Higher Education

Mitch Zelman believes that the cost of higher education is on the rise and this is putting a lot of pressure on families. Tuition alone oftentimes isn't enough for an entire four-year degree and students will have to find ways to pay for housing, food, transportation, and other expenses. This means that everyone needs to re-think the financial burden of higher education and how they can reduce it as much as possible.

When it comes to reducing the overall cost of higher education, scholarships can be a huge help. They don't have to replace the role that grants and loans play in this regard but they can go a long way toward easing the financial burden for students who might not be able to afford their degree without them.

No More Dropouts

Many students are dropping out of college not because they don't want to attend school but because they can't afford it. This is troubling for everyone involved. Not only does this mean that students have lost time and money, but colleges have also lost tuition revenue which hurts their bottom line.

Scholarships prevent potential dropouts because they give students the opportunity to continue their education without worrying about money. They are awarded based on merit, need, or a combination of both, but either way, they help ease the financial distress for students who might not otherwise be able to afford it.

Take Your Career to the Next Level

Mitchel Zelman says that career development is a huge part of life and in order to get ahead. Completing a degree is one way to make sure that happens, but if students can't afford to pay for school, it's all for naught. Going for a prestigious or merit-based scholarship can really make you stand out among the other candidates.

This is where things get exciting because having a degree opens up new opportunities that wouldn't be possible otherwise. For example, many companies offer tuition reimbursement as an incentive for employees wanting to take classes or earn additional degrees. Perhaps the best part of all of this is that they are offered based on merit, not need.

There are a lot of students who aren't necessarily looking for monetary assistance but rather some recognition for their achievements. These kinds of scholarships really help to take your career to the next level because you have something prestigious to put on your resume.

Support Your Family

Going to college is hard enough as it is and the last thing you want on your plate is worrying about how your younger siblings or children are doing. A lot of students have family obligations and some might not even be able to go directly into the workforce upon graduating if they don't receive financial support from somewhere.

With scholarships, students can assist their family members and ease their financial burdens as well. This doesn't mean students will be able to support them financially, but it does help alleviate some of the worries parents might have that they can't afford college.

In addition, this is a great way for students to give back because children often follow in their parent's footsteps when choosing a university or career path. Many students might already be depending on their families to take care of them, so it is a wonderful thing for them to have the chance to pay things forward by supporting someone else in the family they love and cherish even more.

Better Cost of Living

In a perfect world, everyone would be able to find jobs that pay enough to sustain their lives. In reality, this is not always the case and some people have to live one more paycheck than they'd like in order to get by every month.

When students receive scholarships, it helps them get a head start on their finances and gives them the opportunity to put more money toward things they really need. For example, many colleges don't include housing in their tuition so students have to come up with that extra dough which can be hard for someone just starting out in the workforce.

A lot of people like to live around other students and make friends which is why college towns and campuses are some of the best places to live. Housing might not always be affordable for everyone but with enough scholarships, it's more than possible.

Say No to Stress

It's not uncommon that students around the world can feel under a lot of stress when it comes to school and their future careers. From the moment you step foot on campus, everything is moving quickly and students don't know where to turn or what to do in order to get ahead.

Having the proper support system is so important for students and scholarships are a wonderful way to get them started. In addition, they don't have to worry about finding a job right away because their sole focus can be on bettering themselves academically which will make it more likely for them to obtain employment once everything is said and done.

No More Loan Debt

It's a shame that so many people have to take out loans and rack up a bunch of unwanted debt just to get an education. This doesn't only apply to undergraduate students but also graduate students who are in the workforce and have to pay back student loans for many years before they can even think about owning a house or car.

Scholarships are an incredible way for students to avoid this because they're essentially free money that can be used any way you see fit. A lot of people choose to invest in their education, but others take it as cash and pay off bills or even start their own businesses.

Final Verdict

While there are a lot of things to consider when it comes to scholarships, one thing is certain: they will lessen the financial burden associated with higher education. With more students being able to afford tuition and other related expenses, the future isn't looking so bleak anymore for young people who have dreams of obtaining an education without going into debt or struggling financially.