Scholarships & Financial Aid
It is no secret that many university students find themselves in the middle of a financial crisis. With many years of schooling, the bills rack up and students get discouraged.
Many students have found college to be achievable with the help of student loans. Even though students must fulfill their responsibility and eventually pay back their debt, this can temporarily relieve the cost in order to fully experience college life. However, there is another form of financial aid that does not require the student to return the money—scholarships.
University students from all over the country receive scholarships, a form of financial aid that is designated for college students. Scholarships are a great resource to relieve hundreds to thousands of dollars worth of school bills.
Maranatha Baptist University has a variety of scholarships available for students. Andrea Innocenti, the Assistant Director of Advising and Outreach in the Financial Aid office at Maranatha, says, “Scholarships definitely aid in lowering a student’s college bill, and can provide some help in relieving the pressure as students balance their work schedule and education.” This scholarship opportunity can significantly decrease the amount of money a student owes for schooling since scholarships do not require money to be returned. There are two categories of scholarships: public and private.
Types of Scholarships
Public scholarships are amounts of money awarded to any recipient. This type of scholarship can be very broadly given or reserved for students of any background. Private scholarships are financed by specific companies, foundations, organizations, and individuals, and are designed to grant money for a specific academic purpose.
Both types of scholarships are highly beneficial to each and every student as the financial strain diminishes and students are able to prioritize school itself. Applying for public or private scholarships is easy to do and will become a huge relief for every university student.
Do Scholarships Affect Financial Aid?
Scholarships do not negatively affect a student’s financial aid package. Students who get a Pell grant can still receive scholarships without losing any money. Innocenti says, “The greater the amount of the scholarships, the better!” Scholarships are valuable for students of many financial backgrounds.
Maranatha has a wide variety of scholarships available for students. Every year, Maranatha has over one million dollars in scholarship money that they distribute to 60% of their college students. Innocenti explains that these scholarships are based on major, ACT/SAT scores, a parent serving in ministry, a parent that is an alumnus of Maranatha, and more. Obviously, scholarships offer much financial relief, and each student is allowed an opportunity to apply for one or more. Each student should consider college scholarships as they are continually offered every semester.
To learn more about Maranatha’s privately funded scholarships and how to apply for them, click here.