If you have an extra $100,000-$200,000 laying around, you may skip over to the next page. For the rest of the 99.99 % of you all, you will want to stick around to find out why scholarships are so needed due to the-GASP-continuous high-rising costs of a college education. According to College Board, a "moderate" college budget for an in-state public college for the 2015–2016 academic year averaged $24,061. A moderate budget at a private college averaged $47,831. The simple math calculates to an astronomical amount:
Insert chart here Bachelor’s Degree at a Public University 96,244
Bachelor’s Degree at a Private University 191,324
*based on 4 years of enrollment full-time
Use the College Net Price Calculator to check on how much you can expect to pay at your potential college (s)
What is equally alarming is the amount of student-loan debt that college graduates endure as they complete their educational careers. The Total Student U.S. Debt is currently 1.2 trillion dollars while the average student debt for a 2014 graduate is $33,000.
Use the FinAid Student Loan Calculator to see how much your student loan payment/payout would be if you have to borrow money for your educational expenses.
This seems to be a gloomy picture that we are painting, but there is a silver lining that can offset the high cost of a college education, and that is to become a scholarship recipient. Let’s dive into the strategies that will position you to become a Scholarship Winner!