College Raptor is a free platform that helps students discover and compare colleges based on academic, cultural, and financial fit. They have created this awesome infographic showing some interesting schlarship statistics to share with Scholarship Opportunity subscribers. You can check out their website at: www.collegeraptor.com.
Ever find yourself wondering if scholarships are worth the amount of time and effort you need to put into applying for them? I had the same question after finishing my first scholarship application. It took me eight hours to write the essay, fill out the application, and assemble the required documents. When I was one of three students awarded $500 it dawned on me that I made $500 for a day’s worth of work. Put another way, I made $62.50 and hour! That sure beat my work-study pay rate.
A lot of students tell me that applying for scholarships is too much trouble and takes too much time. Let me show you why this is one myth you should totally ignore. This cool infographic breaks down the numbers for you:
As you can see, the hourly wage earned by applying for scholarships has gone up to $66 an hour or $516 a day since I graduated. The real question you should ask yourself is: “Would I rather make $10 an hour, $20 an hour, or $66 an hour?”
Are scholarships worth it? You bet they are! What other job could you get that pays you $66 an hour to work from home during hours that are convenient to you?
Are Scholarships Worth It?
We decided to investigate what the best way to pay-off student loan debt is. We tracked down the numbers to discover the average student loan debt for US students, the average salary for a part-time undergraduate job, and the average starting salary for a full-time job after graduation. We looked at the amount of time it takes to apply for scholarships and figured out how many scholarships you need to win in order to cover your student loan debt. Are scholarships worth it? Here’s what we discovered: