Considering the time spent on each scholarship application, focusing only on the larger scholarships may seem to make more sense. After all, for the same time investment, you stand to earn larger rewards. While that may be true, overlooking the small scholarships is a mistake.
Here are some reasons why you should also go after small scholarships along with the larger opportunities.
Small Scholarships Are Easier To Win
With almost all students vying for the larger scholarships, the competition can be really fierce. You’ll be up against some stiff competition to win one of the larger awards. Stiff competition doesn’t necessarily mean you won’t win and so you shouldn’t apply at all. It just means that there’s just a hair’s breadth difference between winning and losing.
Because everyone’s set their sights on the large scholarships the smaller awards tend to be less competitive and easier to win.
Every Little Bit Counts
When you’re looking for money to pay for college, every little counts. One small scholarship may not cover your college tuition for a year or even a semester. But what if you win more than one? If you win 6 or 7 smaller scholarships, those small amounts will add up to a significant total. Every dollar you win by way of a scholarship is that much less you will need to borrow.
Three things you should know about scholarships.
- 1: There’s no limit to the number of scholarships you can apply to.
- 2: There’s no limit to the amount you can win in scholarship awards.
- 3: You do not have to pay back any of the award money, nor do you have to pay any interest on the money you win.
What this means is you can apply to all small scholarships that you are eligible for and you can keep all the money you win. The more scholarships you apply to, the higher your chances of winning. The more awards you win, the smaller the loan you will need to take out–if you need to take one out at all! The thought of graduating with minimum debt is incentive enough to keep applying to small scholarships and racking up the awards.
Does That Mean You Should Ignore Those Large Scholarships?
No, this doesn’t mean you shouldn’t apply to any large scholarships. Apply to both. Just don’t leave little opportunities by the wayside.
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| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.50%-16.12%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
|
|
5.54% - 15.70% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.63% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.66% - 14.72% Variable
3.69% - 14.56% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 16.85% Variable
3.69% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
