It is important for a student to understand the grand scheme of things when it comes to scholarships because students need to understand the importance of graduating from university and having the chance of having a post-college education. To elaborate further on the importance of scholarships to students, Rusty Tweed would like to share with you 5 reasons as to why you need to apply for scholarships

The costs of going to college are high

The public 4-year fees and tuition have increased above inflation by more than 5% on an annual basis. For a 2-year tuition in college and for a private 4-year tuition, they have also increased by 3% above the rate of inflation. This has made it expensive for parents to foot the fees considering if you are in a family that has more than one student who needs to go to college.

Students need to be in a position to help out in the family by applying for scholarships for the parents to cater to other needs. When a student applies for a scholarship, either full or partial scholarship, it helps out to cover their important fees that are needed throughout the year, enabling the student to concentrate more in class compared to missing classes.

It is a tough time for parents

Well, the economy is not that bad, but most parents are struggling to raise money for college if you consider their other obligations like servicing loans and other bills for the family. Don’t get me wrong, education is important and parents know that. They value education and they want to contribute to the college tuition of their children, but over the years, tuition has been increasing and parents have not been getting more money.

Lender Sallie Mae who is a lender conducted a study together with Gallup, and they discovered that the number of parents who were planning to cover a small portion of college tuition had risen, while the number of parents who were looking to cover a considerable amount of tuition (more than half) had declined. Longmire and Company also conducted a similar study where they found out that a larger percentage of parents in the study (33%) said that they were planning to raise an amount lower than $5,000 towards the college education of their children; the amount is less than the amount of money used to pay for the textbooks used throughout the four year education of a child.

Living costs in college are high

If you plan to be commuting from home to college then that is a very good option that can increasingly lower your costs of education. But it also depends on the distance of the college you are attending. If the college is nearby, it makes sense to commute from home, but if the college is in another state, well, it goes without saying.

The costs of living in the campus grounds have gotten higher. If you are the last born in your family, your parents should plan on spending more than your older siblings who went to college. Books, food, rent and even supplies have become expensive, and it is not getting any better as time goes by. If you consider this level of expense in your family, it makes sense to apply for a scholarship as it will cover a lot of your education costs and help you have a much more comfortable experience in college. If you don’t apply for a scholarship, you will find yourself either going to a college you never planned on going which might affect your career at large, or you might delay your time of getting to college.

The support of students attending college by the State has gone down

America has come a long way to whether the dust of recession, but its impact still lives on in states. This effect has caused different states to cut their public spending by a huge percentage, where higher education was also been affected. This change has led to the institutions of higher learning to increase college tuitions, making it more expensive to go to college.

People are in debt

Approximately a quarter of the US population is in debt. A collective amount of more than $700 billion debt is on student loans. This is a lot of money. The College Access & Success Institute stated that the average graduate from college has approximately $24,000 on student loans during the time of graduation, and this figure is on the verge of increasing. According to economic experts, this is the next financial bubble that is likely to burst.

In conclusion, Rusty Tweed agrees with the fact that going to college is very important. It is by far the best investment you can make, and why not do it in a manner that is affordable to you as a student. That is why it is important to apply for college tuition, as it is an opportunity to make the best investment decision in your life with a good support system.