Why is Scholarship Important for Students in India
In a country like India, where more than half of the population lies in the lower-middle class category, accumulating enough funds to back education is quite tough. This is where scholarships come into play and provide a sigh of relief to all those parents struggling to meet their children's educational expenses.
Scholarships provide monetary benefits to students belonging to different categories, making them financially independent to navigate their career choices. They give students an opportunity to fulfill their goals and motivate other young minds in society.
But is the inability to afford education the only reason why scholarships are so important to Indian students? Well, guess not!
There are a few other reasons why Indian students value scholarships so much.
Reasons why scholarships are important to Indian students
When we talk about the importance of scholarships, a lot of factors come into play. Some of them are:
Increasing Cost
Inflation is the primary factor behind the popularity of scholarships among Indian students. The rise in the price of schools, colleges, or universities fees forces students to look for these aids.
Generally, students prefer fully-funded scholarships that take away the burden of educational expenses from their shoulders. However, partially funded scholarships that cover only the tuition fees or the living expenses are also not a bad choice.
Basic Living Expenses
Every student has to bear food and lodging expenses while moving out for higher studies. Sometimes, these basic expenses are higher than the tuition fees and make it difficult for candidates to pursue their desired courses.
With scholarships in hand, students can focus on their studies without worrying about these expenses.
Increased loan rate
Loans have traditionally been the primary choice to fund educational expenses. But with time, the interest rate on the repayment of such loans has increased drastically, making it difficult to pay back the total amount at the end of the maturity period.
Nowadays, the loan rates are so high that students might as well end up paying double the initial amount.
Needless to say, all this only goes to show how critical scholarships are to families whose income is neck-to-neck with their expenses.
So which is the best platform to apply for scholarships?
Every student has different needs. For some, bearing tuition expenses is a huge task, whereas, for others, food and lodging expenses are beyond their budget. There are even students for whom paying both these costs is a gigantic struggle.
Scholad rises as the knight in shining armor to fit the different needs of all students.
Scholad is a unique scholarship matching portal that requests students to sign up for free and select the scholarship that matches their requirements and eligibility criteria. It provides them with all the necessary data, from conditions to the required documents to deadlines, and assists them throughout the application process.
So if you’re looking for a one-stop avenue for all scholarship related information, your search should end at Scholad.
