18 Jun

5 Reasons to Apply for College Scholarships

shocked-graduateAttending college, technical or vocational school is an investment students make that benefits their community  As a credit union, we are invested in each other and to that end, we award four William Threlkheld scholarships each year to deserving members. The scholarship is named after the retired Division Chief of the Denver Police Department who passed away on 11/8/11.

RMLEFCU has identified 5 reasons why potential awardees should spend time this summer completing scholarship applications.

1) Not all scholarships are based on need, some are based on academics, personal achievements, characteristics, or unique talents.

You’ve studied hard and burned the midnight oil, congrats! This is your opportunity to apply for academic based scholarships. You’re an overachiever, so you’ve probably sent yours in already.

Are you a committed volunteer, spending your free time working for organizations and causes that are important to you? Many colleges and universities want to add you to their class rosters. Try these sites for service based scholarships and community service scholarships.

Are you left handed? Taller than the average Joe or Jane? A number of scholarships are tailored to personal characteristics like height, medical conditions, or even the religion you are affiliated with. Check out personal characteristic scholarships.

Finally, there are quirky scholarships that reward you for being able to write essays on fire safety or create an award winning greeting card. Find unique scholarships here  and here.

2) Tuition and fees are always increasing. The average increase in tuition and fees at public four-year institutions in 2014-15 was 2.9% for in-state and 3.3% for out-of-state undergraduates, and 5% of these schools increased tuition 9% or more. Source

3) The cost of living is not getting any lower. College towns have a steady stream of renters and with the real estate market heating up in many major (and minor) cities, rents are rising. Click here for the 20 cities where rents are increasing the fastest.

 4) Student loan interest rates are increasing. The rules have changed. Rather than setting one fixed rate, loan rates are set each year based on the spring rate of the 10-year Treasury note, and a fixed percentage depending on the type of the loan. The rates of Treasury notes are increasing as well. July 1, 2015, is a few weeks away, and another increase is likely. Source

 5) State support for students has decreased substantially. In 2013-14, public colleges and universities received an average of $7,161 per full-time equivalent (FTE) student in state funding — 23% less than the $9,290 (in 2013 dollars) per FTE student they received in 2007-08.  Source

Time is of the essence! RMLEFCU will award four scholarships to student members who have a 3.0 GPA or higher, are involved in their community and have the potential to succeed at the college level.  Applications are due by 7/31/15!  Click here for more information: William Threlkheld Scholarship.

 

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