How Much Does the Average Person Get in Scholarships?
Scholarships are a great way to help pay for college, and the U.S. Department of Education awards an estimated $46 billion in scholarship money annually. But how much does the average person get in scholarships?
On average, first-time undergraduates who receive government grants and scholarships at a 4-year college receive about $13,690 annually. This amount is typically split between the student’s school and the student’s family. The amount can vary depending on the student’s financial need, the type of school they attend, and the type of scholarship they receive.
Scholarships can be need-based or merit-based. Need-based scholarships are awarded to students based on their financial need, while merit-based scholarships are awarded to students based on their academic achievements, leadership skills, or other criteria.
Students can also apply for private scholarships from organizations, businesses, and foundations. These scholarships are typically merit-based and can range from a few hundred dollars to full tuition.
In addition to scholarships, students can also apply for grants. Grants are typically need-based and do not need to be repaid. Grants are typically awarded by the federal government, state governments, and colleges.
Finally, students can apply for student loans. Student loans are typically need-based and must be repaid with interest. Student loans can be obtained from the federal government, private lenders, and colleges.
In conclusion, the amount of scholarship money that the average person receives can vary greatly depending on their financial need, the type of school they attend, and the type of scholarship they receive. On average, first-time undergraduates who receive government grants and scholarships at a 4-year college receive about $13,690 annually. Students should take the time to research and apply for scholarships, grants, and student loans to help pay for college.
Nov 5, 2022.