Key Scholarship Statistics
Scholarships are available in many different forms. Scholarships are available depending on your college and education. Here are some key statistics about scholarships that you should know: Scholarships are used by 58% of U.S. parents to pay for college. Over 1.7 million scholarships are awarded every year Pell Grant is the largest federal scholarship program, providing financial aid to 7.5 million students each year Every year, the U.S. Department of Education awards approximately $46 billion worth of scholarship funding. 16 % of students receive scholarships from the state, and 13 % receive private scholarships Each year, approximately 1.58 million undergraduate and graduate scholarships are offered. Scholarships are awarded to only one out of eight students in college Scholarships are given to 97% of students who receive them, but the average amount is less than $2,000. Scholarships worth more than $25,000 are only awarded to 0.2% of students Only 0.1% of students receive full-ride scholarships (education plus living expenses). Students who are in high school may qualify for 50 to 100 scholarships, but they don’t realize it. You can see that many U.S. families and students receive scholarship funding to help them with their education. Only a few full-ride scholarship programs cover all expenses.Scholarship Recipients Statistic
Who are the most likely recipients of a scholarship? The GPA can be a major factor in determining whether or not you get a scholarship. It’s not nearly as important as you might think. The following is a breakdown of the scholarships given based on the GPAs that students have: Students with a GPA of between 3.0 and 3.4 are eligible for 30% of the scholarships offered in the United States. Only 4 % of scholarships go to students who have a GPA between 3.5 and 4. Grades are indeed important, but not everything. It’s not true that higher rates will increase your chances of getting a scholarship. However, this is not always the case with private scholarships. More than 66% of students who have SAT or ACT scores above average receive private scholarships. It would be best if you had good grades to get a scholarship for a private school. STEM subjects can help you get a college scholarship. The acronym STEM is a short form of the words:- Science
- Technology
- Engineering
- Mathematics
Demographic Scholarship Statistics
Minority students and white students receive more scholarships. The percentages have remained fairly balanced in comparison to the past. Minority students have a higher chance of getting a scholarship than white students. The statistics alone show that white people are 3% more likely than other races to receive a scholarship. Other factors can also influence the outcome. It gets more interesting when you only look at minority students. Black students have the highest chance of winning a scholarship, at 11,4%. The next highest percentage is for Asian students, at 10.5%, followed by Hispanics at 9.1%. What about your income? Scholarships are awarded to students from families with a middle-income level at a rate of 13.8%, compared to 10.6% for families with fewer resources. Families with higher income levels receive only 8% of all scholarships. Surprisingly, coming from a family with a median income increases your chances of getting a scholarship. Students from private schools are far more likely to receive private college scholarships. 10% of private school students receive an average scholarship worth $2,631 at a college. Comparatively, only 3% of students from public schools receive scholarships for private colleges that average $3,463. These statistics may not be accurate because only 9% of American students attend private schools. The percentage of students in a public school will be lower based on this alone.Chances of receiving a scholarship statistics
We have only looked at specific demographic data. What are your chances of winning an overall scholarship? Only one in eight students is likely to be awarded a scholarship. The average chance to receive a scholarship is 12.5%. This does not mean that the costs will be covered. In the United States, only 0.2% receive scholarships above $25,000. Only 0.1% of students receive full-tuition scholarships, and only 1.5% get a full-ride scholarship. It is not easy to get a full scholarship. Few students in the United States who are accepted into a Bachelor’s degree program have the money to pay for the costs. 8% more students were able to pay for 50% of their costs. All other Bachelor’s students received either no scholarship or a scholarship that covered less than half of the cost.Private Scholarship Statistics
Some of the most coveted private scholarships are available. These are the most difficult to obtain. In 2021, private colleges will award more than $7.4 Billion in scholarship funds. In 2003, private colleges awarded only $3.3 billion as scholarship funding. This means that private college scholarships have grown by $4.1 billion during this 18-year gap. It is expected that this trend will continue. The college may not award some private scholarships. Many organizations and companies offer scholarship funding to individual students. The Miss America Foundation offers college funding of up to $12,000 for each student. The United Negro College Fund awards over 400 scholarships each year. The largest scholarship offered by the Coca-Cola Scholars Foundation is valued at $20,000. Scholarships are offered by companies and organizations based on different criteria. Scholarships for women have been a top priority in recent years. In 2022, the Society of Women Engineers awarded 330 scholarships. These 330 scholarships totaled $1,700,000. The Center for Women in Technology offers scholarships ranging from $5,000 to $20,000. These awards are given annually for up to four years. These are all provided for students who attend private colleges.Public Scholarship Statistics
The Department of Education provides the largest number of scholarships for U.S. families. They provide the most consistent scholarship funding. They also have a budget dedicated to scholarships. What is the Department of Education’s budget? Experts estimate the U.S. Department of Education awards families around $46 billion as scholarship money. Scholarship funding is given for a variety of reasons and not just to the best students. Pell Grants are reserved for families with lower income. For a Pell grant, the family of the student must earn less than $25,000 per year. The average Pell Grant is $4,418 per year for undergraduate degrees. Not all government-funded grants and scholarships are the same. The Federal Supplemental Educational Opportunity Grant is designed for undergraduate students who have exceptional financial need. The FSEOG offers students a range of scholarships from $100 up to $4,000, depending on their financial situation and the year. There is a catch, however, for colleges that participate in the grant program. FSEOG requires that schools participating in the program contribute 25% of all money awarded. The government partners with schools to offer financial assistance to students who need it. The scholarship program has helped thousands to attend college.Most Common Types Of Scholarships
You now know the size of the scholarship market and who will be most likely to receive scholarships. These statistics on scholarships provide information about the most popular types and how to obtain them.Merit Scholarship Statistics
Students are awarded merit-based scholarships based on their excellence in one particular field. This includes-- Gifts for Academic Excellence
- Test scores
- Extracurricular Activities