A college scholarship is a financial assistance given to a student because of his/her achievement in academics, athletics, or based on another criterion that involves giving out support in the form of money solely to assist their schooling. There are different types of scholarships available for college students, but the commonest is a scholarship based on merit and need. The givers of the scholarship set a particular criterion to be met by the recipient before they can be qualified. And they also give a guideline on the application of the fund. The money given provides for the payment of hostel, textbooks, tuition, and all other expenses that are related to the student’s academic life throughout his/her stay in the university.
The united states of America award scholarship programs to every student regardless of their academic level, whether freshers, current students, or the fresh graduates. The scholarship programs are awarded based on different factors apart from achievement in academics, the scope of the study, race, or even involvement in community or financial aid.
What Percentage of Students Get a Scholarship?
Scholarships programs are not only challenging to win, but they are also limited. And the percentage of students applying for scholarships each year is quite high, therefore makes it very competitive. In many proven scholarship stats, only a small percentage of students can get a scholarship that will cover all schooling expenses. Recently, a study was carried out by NPSAS (National Postsecondary Student Aid study). And it was concluded that the percentage of students that eventually get a scholarship is extremely low. And 1 out of every ten college student aspirants can be awarded a scholarship for a degree in the university. Regardless of the GPA, whether in the range of 3.5 to 4.0 or not. And only 19% of the students are eligible for receiving scholarship programs offered by universities.
Additionally, the chance of bagging a scholarship as an athlete in the college or the university is 0.7%. Even though there is a need to have an excellent profile during the application. And a higher score in professional exams such as SAT or GMAT, GRE gives the student an upper hand above all other aspirants. But despite this, the percentage of students with a better profile and an excellent test score that is eventually awarded the scholarship is 13%.
General College Scholarship Statistics – 2020
- Less than one percent receives a full scholarship.
- The average worth of scholarships for undergraduates is USD7,400.
- Only 200,000 student gets to bag a private scholarship.
- Out of the many applicants for an athletic scholarship, 1.3 percent get a full or partial scholarship.
- The percentage of students awarded USD25,000 or more in a year is 0.2 percent.
- About seven million students applied for athlete scholarships, and only a few 1% get selected.
- Each year the national collegiate athletic association awards fund more significant than $2.9 billion.
How Many Academic Scholarships Are Given Each Year?
Every year in the united states of America, as a way of supporting students. The Education Department in the US gives scholarship funds up to $46 billion. Additionally, sources like individuals, foundations, religious groups, clubs, associations, and some organizations in the US also contribute financial aids. Financial aids and gifts that are worth up to $3.3 billion.
How Many Students Receive Scholarships?
Not every student gets to win a scholarship; in fact, the numbers of the recipients are minimal compared to the applicants. The competition is very high and may be difficult to bag a scholarship.
The percentage of students that are likely to be awarded a scholarship of USD25,000 or more is 0.2%. It is extremely low when compared to the total students numbering up to millions
The total number of recipients of an athletic scholarship is relatively low due to tremendous competition. Either full or partial 1.3 percent of students get awarded.
How Much is the Average Scholarship Worth?
Going by the study conducted by Mark Kantrowitz, the average scholarship received by an undergraduate is worth $7,400. Making it lesser than the grants for a graduate student.
This is considerably higher than the fund for an undergraduate. The average amount received by a graduate student is $9,500
According to the report given by Investopedia regarding the scholarship statistics of the average amount received by a student. The statistics show that $9,520 is the average scholarship fund for undergraduates.
What Percentage of Students Get a full-ride Scholarship?
As an aspiring college student with the hope of getting a full-ride scholarship, it is best to know that the percentage of getting a full-ride scholarship is very low. There is a lot of scholarship that can be applied for. But the odds of getting a scholarship that will cover all your academics expenses throughout the university are very low and unlikely. About 0.2% of students who applied each year got USD25,000 or even more than that in a year. According to the data from Kantrowitz, national postsecondary Student Aid Study, the scholarship statistics below were found:
1. Grant enough to cover 100% of the cost.
Out of the many numbers that applied for a scholarship for a bachelor’s degree. Only 1.5% of them get to bag a scholarship enough to cover 100 of their academic cost.
2. Grant enough to cover 90 % of the academic cost.
Not many get to bag a scholarship worth 100% of their educational cost, but some are near. Every year, about 2.7% was awarded a scholarship able to cover 90% of their cost.
Where Does the Scholarship Money Come From?
IT is very important that you apply for a scholarship, and it is equally important to know the source of the fund as a student. There are a lot of scholarship opportunities from the private source, the government, and some other charity organizations. Before listing the source of the fund, below is the type of assistance and their source.
- Grants from the Federal Government: 47 %
- College scholarship and grants fund from the state: 8%
- Different grants and scholarship from various schools: 35%
- Scholarship, financial aids, and grants from private sources: 10%
According to “what to become” the following organization also gives funds to students in the USA.
3. Contribution by Coca-Cola.
The multinational company also offers financial aid to students in America. The fund is worth USD3 million.
4. Source from KFC.
The financial aid, grants, and scholarship from KFC are worth USD1 Million. And it is given each year to a student for support.
5. Other sources of funds.
Other sources include McDonald’s and Dr. Pepper. Each organization gives USD500K and USD1 million, respectively.
What Are the Odds of Winning a Scholarship?
The scholarship is an excellent way of making going to the university more accessible and reduces student debts. But everyone cannot win a scholarship; in fact, the percentage of people that win a scholarship is relatively lower than the number of people that applied. A study from NAPAS concludes that about one out of every ten students studying in the university for a four years course only uses the scholarship to cover their academic costs. The figures are discouraging and may not even encourage you to apply for a scholarship. But there is always hope if you applied. Even the athlete scholarship that is not based on academic achievements is also competitive, as the number of athletes in high schools is greater than 7 million. But only two percent of them get to bag a scholarship. NCAA Division I is even more difficult, out of the 7 million, only one percent were able to bag a full ride in the Division I scholarship program. Getting a scholarship to be an athlete may sound easy, but it is far from that. The competition is higher, and you may need to consider focusing on your academics to put your chances on merit-based.
6. Athlete scholarship is competitive than merit-based.
About seven million high school students applied for a scholarship as an athlete. And only 2% get selected, and 1% on Division I
7. Students numbered up to 200,000 get a full-ride scholarship.
Out of about 20,000 million college students in different colleges in the US, only 200,000 gets to bag a private scholarship. Which is 0.1% of the total number of students. That is 1 in a thousand.
College Athletic Scholarship Fact
A college athletic scholarship is generally an agreement between an athlete and the college to cover the educational expenses of the athlete for a year. Although some are more than a year, it generally valid in 12 months. The scholarships are offered at NCAA Division I and Division II, and also NAIA and NJCAA provide. The total scholarships are targeted at thousands of schools in the USA. Although division III does not award scholarships for athletes, they still give financial and gift aids to students in the division. The percentage of athlete’s student that is given scholarship each year is lesser than Two percent. It may sound little, but the sum is USD3.1 billion per year for Division I and Division II, apart from Division III. The number of the recipient may be smaller compared to the applicants, but the amount of money being spent is also much.
How Many Athletics Scholarships Do We Have?
It is grouped into three by the NCAA (National Collegiate Athletic Association) in colleges and universities.
- Division I: The universities and colleges that are more focused on athletic programs
- Division II: Colleges and universities that are smaller and are less concentrated mon athletics programs
- Division III: They are universities and colleges that have more focus on academics rather than athletic programs.
8. The total amount offered each year is much.
The National Collegiate Athletics association provides $2.9 billion worth of scholarship funds each year to 150 000 students that are athletes.
9. Average scholarship amount.
For each student that is an athlete, USD17,142 is the average scholarship fund annually. Although a large percentage only gets to be awarded USD5,000.
9. Less student receives a full scholarship fund.
The percentage of athletes receiving a full scholarship is not up to 1%. While about 2% receive a particular type of scholarship
10. College scholarship vs athlete-based scholarship.
The applicant for a college scholarship has more chance than the athlete-based scholarship. As many students tend to apply more, about seven million.
11. baseball players rarely get a full-ride scholarship.
There is only about 5,400 scholarship for baseball players. Division, I only have a maximum of 11.7 annually. While Division II receives less. Maximum of 9.
12. Full scholarship is rare for golf players.
There is an estimation of 285,473 players in high school and colleges. And there is a maximum of 10.5 scholarships for all golf players.
13. Volleyball players get a full scholarship.
There are a total number of 574,332 volley ballplayers in high school and colleges. The game is considered as a headcount sport, so all athletes get a full-ride scholarship. The maximum scholarship for volleyball players is 16.5.
What Percentage of Athletes Get a Scholarship?
Students applying for a scholarship as an athlete rarely get a full scholarship. The odd of winning are 1 percent. It is only a few athletes that get to be opportune to be eligible for a full-ride scholarship. Sports that are headcount qualify for a full-ride scholarship, while equivalency sport rarely receives a full-ride scholarship. Generally, the scholarship fund covers rent, textbooks, tuition, fees, and other supplies. If you are very skilled in athletics and hope to win a student athletics scholarship, you definitely should have another plan. The scholarship program is always very competitive as many applicants are an athlete in the US. The number of athlete students is about seven million, with only about 2 % awarded.
14. Full scholarships are more scarce.
Only about a percent lesser than one gets to eventually bag a full-ride scholarship. The percentage of the recipient is smaller compared to the total applicants.
15. A partial or full scholarship.
The total percentage of student-athlete that receives either partial or full scholarship is 1.3%.
16. the percentage for any type of scholarship is higher.
For any kind of financial assistance, either grants or scholarship for athlete students. The percentage is 2 out of the total number of applicants.
Impact of Scholarship on College Affordability
The importance of scholarships can never be overestimated, and it helps to reduce tuition and all other costs for the students. More colleges are hiking the fee of their institutions nowadays, so the best chance for a student to study in these colleges and gain access to quality education is through a scholarship fund. Regardless of your level of income, race, and location, the student can also be a receptor of standard education. The scholarship, in so many ways, contributes to how students fare well in college. It makes the students concentrate more on their studies. The scholarship helps the student to attend a college with a fee more than what the savings of his/her family can afford. It also allows the student to be more selective about their choice of college, and they are not only restricted to college that is lower in fees.
17. The student is more college selective.
Up to 67% of students who won scholarships from private sources can enroll at their selected college. This when compared with over 36% who have no private scholarship.
18. More enrolment in four years.
Up to 78% are likely to enroll in four years degree colleges. While 73 percent are expected to enroll for a bachelor’s degree.
19. Students pursue non-profit colleges.
About 27% with a private scholarship are likely to enroll in a private non-profit college than 155 with no scholarship.
What Are the Sources of the Scholarship?
There is a need to know the sources of scholarship before you go ahead and apply. There are various sources of scholarship; we have government sources, associations, organizations, societies, and multinational companies. It is essential to know, so you don’t just go after the more significant scholarships such as the federal and the state grants. They are good but offer a lot of competition, and your odds of winning them is smaller. There are a whole lot of scholarship programs outside apart from the popular ones. You mustn’t overlook them as they tend to give you more chances of winning them than the bigger ones. Some of them offer a full scholarship, some parts while others provide only gifts and financial aids. Below are the list and stat of the four significant sources of scholarship. You should, however, note that the numbers are much, but the four sources are the overall categories:
- Federal Government
- State Grants
- Scholarship from colleges and universities
- Scholarship from private sources such as organization, associations, and companies
20. Government sources.
They have the relatively most substantial contributions for scholarships and grants. The federal government has 47% while the state grants have 8%
21. Private and college sources.
The universities and colleges offer scholarships for first-year students, current and graduate students up to 35% of the total scholarship. While private organizations contribute 10%.
The numbers and statistics of scholarship should not ever discourage pursuing a scholarship to gain admission into the school of your choice; rather, it should be a preparation for possibilities that are ahead in pursuing a scholarship.
Frequently Asked Questions
What are the most common scholarships?
The common type of scholarship is based on merit. Either achievement in sport or academics
What is the GPA to get a scholarship?
If you are aiming to get a full scholarship, 3.9 TO 4.0 is your best, but you can still use 3.5 to 3.7 to get scholarships.
What sport gives the most scholarship?
The sport that gives the most scholarship is football, more than 25,000 in a year.
Is there financial aid for minorities and another group?
According to scholarship stats, a considerable amount of money is given to every student regardless of gender, sex.