Why Are College Scholarships Important?

As the number of jobs requiring a college degree increases, you would think that college tuition rates would decrease accordingly. Unfortunately, that is not the case. The cost of college is at an all-time high and continues to rise every year. Between the price of text-books, lodging, and classes, college has become a commodity that is just too expensive for many students to afford. In a previous blog post we briefly highlighted a few of the barriers college students face in today’s academic climate. Now we’ll dig deeper and identify some of the causes for these barriers, and how our team at the Michael Krochak Pre-Dental Scholarship can help.  

College students often work long hours, and have multiple jobs, just to be able to make the minimum payments on their student tuition. It becomes increasingly difficult for them to be able to manage school and work. This is not to mention the massive amount of debt that students find themselves in after college. In a recent report, the Federal Reserve stated, “The typical amount of education debt in 2018 among those with any outstanding was between $20,000 and $24,999.” These numbers are incredibly disturbing to someone who is already struggling financially to work their way through college.

The sad part about all this is that it discourages many students from ever starting or completing college. They decide that it is not worth it to put in all of these long hours just to wind up in debt for the next 10 years. Who could blame them? It is difficult to chase after your hopes and dreams when there are all these obstacles holding you back. Fortunately, there is a solution.

Scholarships are an amazing opportunity for students to receive the help they need when it comes to college funding. They provide support that can drive a student to achieve their goals.

A scholarship serves two important functions. The first function is obvious, monetary compensation. This is important because it provides relief to someone who struggles to pay their tuition bills. Instead of having to work two jobs to be able to afford the cost of college, this person can cut back their work hours. They will have more time and energy to focus on school itself and be more likely to graduate 

The second function that a scholarship serves is that it provides the right motivation for those who struggle to motivate themselves. It shows a student that someone else has invested in them and believes in them. This is something that often gets overlooked. Many people fail to achieve their goals because they don’t even believe in themselves and often think that no one else believes in them either. That is where a scholarship fits in perfectly. It gives students a reason to push through those difficult times and focus on the finish line.

So, why do so many people fail to take advantage of a scholarship? Well, many people believe that to get a scholarship you would have had to have straight A’s in high school or have gotten a perfect score on your SAT. The truth is that there are thousands of scholarships out there that vary in qualifications. The Michael Krochak Pre-Dental Scholarship was found by Dr. Michael Krochak, DMD. Dr. Krochak's strong belief in the importance of education, and his understanding of the barriers current college students face monetarily motivated him to establish our Pre-Dental Scholarship.

If you are a college junior enrolled in a U.S. accredited college or university, are in engaged in ore-dental studies, have a 3.3 GPA or better, you are eligible to apply for this one-time $1,000 scholarship. Applying is super easy! Simply visit our website and submit your application directly on our site! Dr. Krochak and a member of his team will select a recipient by March 15th of 2020. Applications are due December 1st, so be sure to submit your application soon!

Questions or comments regarding our scholarship? Visit the FAQ section of our website, or submit a contact form and a member of our team will be in touch ASAP!

Sources:

•        Board of Governors of the Federal Reserve System,

www.federalreserve.gov/publications/2019-economic-well-being-of-us- households-in-2018-student-loans-and-other-education-debt.htm.