"Scholarships are specialized grants offered by schools and colleges to talented students with a distinguished educational background. A scholarship generally involves paying part or full fees of the course. Here is a look at some of the advantages of higher education scholarship.
1. Offsets the cost
With every passing year, the cost for college admission and the course fees keep on increasing. This means that a course that only cost around Rs. 5 Lakhs a couple of years ago, would now cost around Rs. 10 Lakhs. This is why the importance of scholarships is also getting magnified every year. Such a grant would help the student immensely and allow him to follow his dreams.
2. Lesser need for parents to contribute
Most parents are no longer able to spend as much as they did previously for their child’s academics. This is due to the rising inflation across the globe. So, in such a case, a scholarship can be quite vital in determining whether you can achieve your dreams or not. You can rely on your parents for other aspects, but they will not have to pay a major portion of the course fees.
3. Handle living expenses
It is highly probable that when you get an Indian scholarship , you are free from any financial bindings. This means that you can afford a better place to stay along with better food, and all other amenities. In ordinary circumstances, you would have to pay the college fees along with the rent for the place of residence.
4. No education loan required
If you get a scholarship from a good college, you would no longer need to take a loan from the bank. These loans have a substantially high rate of interest, which can be a burden for the student as well as family. However, if the student is picked for a scholarship, he or she does not have to take a loan. He can enjoy the liberty of the college life, without having to worry about repaying the education loan.
So, start applying for the higher education scholarships if you know where you want to study. Try to brush up your entire academics if you want to stand a chance of getting a scholarship. Remember that most foreign colleges have a limited amount of seats for foreign students and even lower number of scholarships.
Rajat Kumar has an engineer’s degree and believes that scholarships play a major role in helping one fulfill the dream of studying abroad. He is now a lecturer in one of the top engineering colleges and loves to educate students on the importance of graduation and how scholarships help in the long run. In this article, he speaks about the many advantages of scholarship for higher studies.