Scholarship requirements Part 2

Here is an explanation on how a company may determine a winner of the scholarship. There are several factors or requirements that will make applicants different from one another.

1. FINANCIAL NEED: A major key factor on deciding who receives the scholarship is based upon the results after planning the current year's financial plan with your financial advisor. After working with your financial advisor on your financial plan for the year, there is an amount of money that the student maybe responsible for to pay for expenses for the year that may not be covered in the loans. These expenses can be to pay for your text books or to pay for living expenses (i.e. food, transportation, rent). This amount is called unmet financial need. Based upon this figure of an individual, the company will use this figure to determine if you will be awarded the scholarship. The company will request a student annual report (SAR) which will contain all the financial information for you. Your financial advisor can provide you with your student annual report when requested.
   
   
2. ACADEMIC ACHIEVEMENT: The second key factor is how you are doing on an academic standpoint in your current education career. There is usually a certain grade point average (G.P.A.) requirement in order to apply for scholarships. This G.P.A. is typical at 3.0 out of a 4.0 scale to 3.5 out of a 4.0 scale. It is important to keep the grades up to increase a person's chances to receive a scholarship. There are some scholarships that do not require for the applicant to reach a certain G.P.A.; however, there are a majority of the scholarships that request this information.
   
   
3. ATHLETIC ABILITY: If one is on the team at the school, one may receive a scholarship for their participation. A person maybe great at a certain sport but not part of the school's team will not be considered of this scholarship. A person who is part of a team at their school will need to take time to train and practice. Based upon this person's participation with the team, he/she can be awarded a scholarship.
   
   
4. EXTRACURRICULAR ACTIVITIES: Companies (as well as graduate schools) like to see a student's versatility. If a student has A+ average but has no extracurricular activities, they are less likely to be picked compared to a student who has A-/ B+ average who is president of a club and works part-time. The student with A-/B+ average will mostly likely succeed due to their time management and other important qualities that they can be shown through these extracurricular activities.
   
   
5. LETTERS OF INVOLVEMENT: Some scholarships require a letter of recommendation from your employers, professors or advisors. The letter will have how and why they are recommending you for this particular scholarship. It gives the company know more about you through the eyes of your employers, professors and advisors.
   
   
6. STUDENT ESSAY: The essay is a chance for the companies to see your personal writing style. The essay can be a personal statement or answer a question that was given to the student. If the essay is a personal statement about yourself, it is also a great way for them to get to know more about you in your eyes and beyond the G.P.A. and clubs.
   
   
7. ETHNICITY: There are scholarships that are available to certain minority groups. For example, there is a Hispanic College Fund. This company awards scholarships and internships to deserving Hispanics in college.
   
   
8. TYPE OF STUDY: There are also scholarships based upon what is your major and your career-path you are planning to take.