Scholarships are one of the most important initiatives which have helped students in realizing their education dreams around the world. Students, who have no or very less financial resources, get the opportunity to pursue higher education with the help of scholarships and financial aids.

However, there are quite a number of myths and misconceptions which surround the concept of scholarships for students. The following are some of the famous myths which have killed a huge number of scholarship aspirants.

Myth #1: They are few

A huge number of students are not aware of the fact that there are hundreds of scholarships offered by various organizations, institutions, and even individuals. Out of these many scholarships, some have attained a high status and reputation due to the standards they have specified in order to get it. Many students think that these are the only scholarships available while the truth is contrary. A single search on the Internet will show how many scholarships are available for students. Furthermore, many scholarships are awarded specifically on the basis of subjects and streams to encourage students to pursue them.

Myth#2: They are too competitive to attempt

Another myth that discourages a lot of students from applying for scholarships is that the competition is too high and strong to attempt applying for them. Although it is a fact that there are many applicants for every major scholarship, it does not mean that the competition is too high for anyone to attempt. Furthermore, there are many other equally good scholarships which can be applied and won by students in case they don’t succeed in getting one.

Myth #3: They are only for top scorers

Another big myth that surrounds scholarships is that they are only for students who have scored exceptionally high and whose academic performance is very good. Yes, it is true that academic performance is usually the basis for getting a scholarship, but it is also a fact that not all scholarships require exceptionally high scores. Many scholarships are awarded on the basis of subjects and other achievements and skills. Some are also awarded for certain subjects and courses.

Myth #4: The aid is too small to make a difference

Some students tend to believe that applying for scholarships is not worth it as the financial aid won’t cover all their study expenses. It is true that a scholarship won’t cover all the expenses involved in studying but it is untrue that it won’t make any difference. A scholarship will give a huge boost to you and will reduce the financial burden of expenses. Then there is also the prestige and honour attached to several scholarships for which students vie for.

Myth #5: They are only for minorities

This is another one of the prevalent myths about scholarships among students as well as parents. Many people think that scholarships are only for minorities or that anyone who is not from a minority group cannot succeed in availing a scholarship. The truth is quite contrary. Yes, there are special scholarships for minority students, but not all of them are awarded especially for minority students. According to a report published by the Chronicle of Higher Education, focused on students in America, it was found that 76 percent of institutional merit scholarships were awarded to non-minority students and that they were 40 percent “more likely” to win private scholarships.