For some reason, society has fostered the belief that all college students will eventually drown in debt. However, it doesn’t have to be this way. There are numerous ways to save money during college, but the most effective way is through securing a scholarship or bursary.
Many individuals have a limited understanding of scholarships and how they are awarded. There is actually a wealth of surprising information about scholarships that students should know, because overlooking these opportunities can result in missing out on free money that is readily available. How do we know this money exists? Take a look at the following:
1. Myth: Every scholarship is awarded
Here’s an astounding fact: millions of dollars in scholarships and bursaries go unclaimed every year. According to ScholarshipsCanada, about one in 20 scholarships listed on their website are never applied for. With approximately $200 million listed on their site, it’s easy to see how much money goes untouched simply because no one applies.
Contrary to popular belief, scholarships or bursaries aren’t automatically awarded to someone. It is entirely possible for scholarships to remain unclaimed because no one took the initiative to apply. Therefore, it is essential to always submit an application, as you never know what opportunities may arise.
2. Myth: I must search scholarship websites to find opportunities
Start by exploring what your College offers since they provide a variety of in-school scholarships that you can apply for! Centennial College has an extensive selection of scholarships and bursaries for each program, based on both academic and financial criteria.
3. Myth: High grades or extreme financial need is necessary to qualify
Scholarships and bursaries are not solely based on exceptional grades or financial need. Even if you believe you have no distinct abilities or needs (which is not true, as everyone has their strengths), there are still opportunities available to you. Scholarships and bursaries often focus on other factors, such as volunteer work, leadership skills, or random selection from a pool of applicants, as noted by ScholarshipsCanada.
Additionally, when it comes to Centennial College’s scholarships and bursaries, we offer opportunities to a diverse range of applicants, including French speakers, 2SLGTQQIA+ students, parents, part-time students, Indigenous students, and students enrolled in specific programs, among others.
4. Myth: A simple form is all that’s required to receive a scholarship
In most cases, scholarships and bursaries require more than just filling out a form, and being unprepared can hinder your chances of receiving an award. Each scholarship has unique criteria, and while some may only require a basic form application, many others may require essays or additional submissions.
Expect to put in effort for each scholarship. Don’t assume you can apply to ten scholarships in one sitting. Keep in mind that you may be competing against numerous other applicants, so it is crucial to dedicate time and effort to each application if you hope to secure that free cash.
5. Myth: If I didn’t receive any scholarships or bursaries in my first year, my search is over
If you didn’t receive a scholarship or bursary when you began your studies, don’t give up. While some scholarships and bursaries are awarded upon program entrance, there are opportunities available at any stage of your college journey. Don’t let a lack of success in your first attempt discourage you. Investing a little time and effort into searching for scholarships can lead to significant savings and provide valuable experience for future job applications.
Coming to Centennial? Complete the Doorway to Dollars Questionnaire
To access Centennial College’s scholarships and bursaries, you must complete and submit a Doorway to Dollars Questionnaire, available through your myCentennial account.
If you fail to complete the questionnaire, you may be missing out on free funding for your education. The questionnaire matches you with scholarships and bursaries for which you are eligible. Even if you believe you don’t qualify, it is still worth completing. There are general bursaries available, and if there are any opportunities you can apply for, we will notify you through your myCentennial email.
Don’t wait, it’s never too late
If you’re a new college student, you have a multitude of things to consider, such as your timetable, course selection, and purchasing textbooks. It’s easy to overlook bursaries and scholarships in the midst of all these tasks. However, at the beginning of a new semester, financial assistance is most beneficial. So even if you have numerous responsibilities weighing on your mind, take the time to complete the questionnaire and stay informed through your myCentennial email. It will undoubtedly pay off.
