WHICH IS THE BEST OPTION,STUDENT LOANS OR SCHOLARSHIPS?

August 8, 2017 in Uncategorized by admin  |  No Comments

The issue around the rising cost of education is not new.
However, it is not so much a threat for those who want to enter college but that they are not capable of meeting the expenses. This is because of the two choices made available for them, first is the scholarship programs, the second is the student loans. They may apply to either of the two.
Basically, the scholarship gives a monetary award which does not require the beneficiary to repay it. Unlike the student loan, the money that was lent to the students will be paid after some time with the corresponding amount plus interests.
Hence, it seems to be apparent that taking a scholarship program is more beneficial than the student loan. Yet, you should know that both still consist of advantages and disadvantages.
In scholarships, the students need not worry about finances throughout his college years. Almost thousands of scholarships are made available every year. The scholarship programs depend on the financial needs of a certain student.
Although, it doesn’t necessarily mean that you are not intelligent because you were not be able to acquire a scholarship. There are various types of scholarships, one is for the intellectuals who acquire and maintain high grades. The other is the specific scholarships designed for the ones who excel in definite fields, for instance, in the field of sports, math, science, music, stage performers and others.
Students with an average I.Q. may still win a scholarship. They may not possess the remarkable level of intelligence to win a scholarship, but their talents may secure them one.
Moreover, there are also scholarships designed for certain races, minorities, and other sectors of the society that need monetary support. Scholarships are not just confined to college students, the students who would want to pursue further study may also benefit.
There are also several institutions that offer scholarship programs to their members, examples of this are the religious organizations and union groups, etc.
Now, if you think you won’t be legible for any scholarship, there is still one option — student loans.
The student loan is the financial aid given to the student to pay their tuition with the agreement to repay it with the corresponding interests in a given period.
Scholarships do not require for repayment, but student loans do.
The advantage of a student loan is that it will give you freedom to move as a regular student, without the pressure of maintaining high grades and you can do your other activities without thinking of the conflict in the training schedules.
The challenge is student loans need to be repaid the moment you graduate; you have to pay to the very last cent plus the interests.
If you are the bread winner of your family, paying for it will be another burden though you already have secured a job.
It will depend on you, the important thing is you finish your college education and secure a diploma, be it from a scholarship or through student loans.
The achievement of earning your college education amidst the hindrance of money is the thing you will always give you a sense of pride.

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