How Many People Actually Win Scholarships? (The Statistics)

For many, scholarships could be the key to saving money on your education costs? With the ongoing increases in expenses, it's no surprise that 58% of U.S. families use scholarships to cover college expenses every year. But how many actually get the scholarships they apply for?

In this post, we'll dive into the ins and outs of scholarships. You'll discover the many types available, the annual number of awards, and the stats on who typically receives them. Plus, we'll explore some useful tips to boost your chances of getting one!

Key takeaways

• Over 1.7 million scholarships are awarded each year, with 58% of U.S. families using them in some form
• Having good grades can boost your chances, but isn't the only criteria for scholarship eligibility
• STEM students tend to have a higher chance of receiving scholarships

How many people actually get scholarships?

Each year, more than 1.7 million scholarships are given to students. That's right, over a million chances to make college more affordable. Even with these big numbers, only one in eight college students actually gets a scholarship.

It might sound discouraging but don't lose hope. There could be 50 to 100 scholarships waiting for you if you know where to look.

When I was graduating high school, I wasn’t the student with the best grades or the most extracurricular activities. But I was still able to secure a few scholarships by knowing where to look and writing thoughtful applications. Let’s look at who actually gets scholarships in the U.S. - the answers might surprise you.

Who gets scholarships in the U.S.?

Students and their families often wonder: “Who actually gets these scholarships?” Believe it or not, it's not always about having the top grades. While a great GPA can be helpful, it's not the only thing that matters when it comes to qualifying for scholarships.

Take a look at these stats:

• 17% of students with a 3.5 to 4.0 GPA win private scholarships.
• 13.1% of students with a 3.0 to 3.4 GPA win private scholarships.
• 10.4% of students with a 2.5 to 2.9 GPA win a scholarship, so even they aren’t left out.

Do better grades secure more scholarships?

We're often told that having higher grades increases our chances of getting scholarships. While that’s true, don’t be discouraged if you’re not the best student. Grades are important, but they're not the only factor. Even if your GPA isn't at the top, you still have a shot at winning a scholarship.

Are private scholarships any different?

If you're aiming for a private college scholarship, here's where things change a bit. Over 66% of students with above-average SAT and ACT scores receive private scholarships. So, for those private scholarships, keeping those grades up becomes more crucial.

What about STEM students vs non-STEM students?

Choosing to follow a path in STEM (Science, Technology, Engineering, Mathematics) could spring some scholarship opportunities your way. So, for those STEM enthusiasts out there, have a look at this fact:

• 17% of STEM students receive scholarships compared to 12.1% of non-STEM students

And here's another thing – more than 33% of all private scholarships in the U.S. go to these students. So, if you're diving into the STEM world, celebrate! Your chances of securing scholarship funding just got a boost.

How much is typically awarded in scholarships?

Now, let's talk numbers. How much can students expect to receive from these scholarships?

• Around 97% of students awarded scholarships received less than $2,500.
• Only a slim 0.2% of students receive scholarships worth $25,000 or more.
• The scarce full-ride scholarships (including both tuition and living expenses) are awarded to less than 0.1% of students.

How can you boost your chances for a scholarship?

To increase your chances of getting a scholarship, you should perform well in school, join clubs or sports, and write essays that fit the requirements of each scholarship. It can also help to submit letters of recommendation, show that you need financial help, and apply for many scholarships early.

You might already have the qualifications for 50 to 100 scholarships, you just might not know it yet. At TuitionHero, we help students and parents figure out the complicated parts of college financing, helping them find scholarship opportunities.

Do’s and don'ts of applying for scholarships

Knowing what to do, and what not to do, can significantly improve your chances of landing a scholarship. Some actions can boost your odds, while others might leave you in the dust. Here's a quick guide:

Advantages and disadvantages of applying for scholarships

Using scholarships as a strategy for college financing has its positives and negatives. Let's take a closer look at both:

Advantages of applying for scholarships

• Ease the financial burden: scholarships can reduce college costs by a lot.
• No requirement for repayment: unlike loans, scholarships are free money. You won't have to worry about repaying anything.
• Can be available for all: some scholarships don't focus on GPA, meaning all students have a shot.

Disadvantages of applying for scholarships

• Highly competitive: with many students applying, securing a scholarship can be challenging.
• Time-consuming: the application process for scholarships can require a lot of time and resources.
• Limited funds: most scholarships don't cover the entire cost of college. You might still need to explore other financial options.

How TuitionHero can help you

At TuitionHero, we get that securing scholarships can feel overwhelming. Our mission is to help you navigate the confusing world of college finances. We want to simplify the process for you, from private student loans and student loan refinancing to scholarships and even FAFSA help.

With millions of scholarships available, we're here to help you find them and make your college education more affordable. Your dream of getting a quality education shouldn't be financially challenging, and we want to support you on your journey. Let us handle the hard work while you focus on becoming a successful student and future scholar.

Frequently asked questions (FAQ)

How often are scholarships given out?

Scholarships are given out on a yearly basis in the U.S., with over 1.7 million scholarships awarded each year.

Is it true that only high achievers receive scholarships?

Not necessarily. While some scholarships prioritize academic accomplishment, many scholarships consider other factors like financial need, community service, leadership, and other talents.

Besides GPA, what are other factors that can improve my eligibility for scholarships?

Community service, leadership roles, and excelling in specific areas like arts or sports can increase your eligibility. Some scholarships also prioritize students pursuing courses in fields like Science, Technology, Engineering, and Mathematics (STEM).

Are private scholarships only for students with high academic performance?

Private scholarships usually consider academic performance in their criteria. Up to 66% of students with above-average SAT and ACT scores receive private scholarships. However, other factors might also be considered.

Final thoughts

Getting a scholarship isn’t always easy, but with careful research, personalized help from resources like TuitionHero, and a bit of strategy, it can become a key part of your college financing plan. Keep in mind, it's not just about competition -it's about finding the right fit for you and your goals. Go out there and grab those opportunities – your dream education is waiting for you!

Sources

• U.S. Scholarship Statistics: The Latest Data, Facts And Costs
• College Scholarships Statistics
• Scholarship - Wikipedia
• Scholarships in the United States - Wikipedia