Are scholarships really worth applying for?
If you doubt the value of scholarships and wonder if they are worth applying for, take a look at what it might mean if you received a $3,000 scholarship over 4 years. A scholarship at $3,000 a year for 4 years or $12,000 converted to a loan at the interest rate of 8.25% to be paid back over 10 years would have payments of $147 a month with interest of $5,662 for a total of $17,662. That is a lot of money! Just think if you could eliminate that much debt by getting a scholarhip.
