Scholarships 101
Everything you need to know to
become a Scholarship Guru.
Overview
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Why are
scholarships
important?
The less you have to pay
back the better – why
scholarships are the answer.
Okay! How do I
get started?
Wait. WHAT? How are
students currently
funding their education?
Scholarship
Myths –
BUSTED
How yconic
can help.
Why are
scholarships
important?
43%
of students said
financial aid (e.g. grants,
bursaries, scholarships,
loans) was such a big
factor when deciding to
go to university/college,
that they couldn’t go
without it.
Source: yconic Higher Education Study: May 2014
$6,191
In 2015, the average cost
of tuition for a Canadian
student is $6,191 per year.
Remember: This total does not include
textbooks, school supplies, or living expenses.
Source: http://www.statcan.gc.ca/daily-quotidien/150909/dq150909b-eng.htm?HPA
Statistics Canada, University Tuition Fees, 2015/2016
Students estimate they will spend $1,385 per month
on expenses during the 2015/2016 academic year.
$126 on school supplies (books, pens, paper, binders, etc.)
$786 on living expenses (e.g. rent, bills, or utilities)
$193 on groceries, food and beverages
$86 on entertainment and social outings
$114 on transportation to and from school
$80 on clothing, shoes or accessories
Source: yconic Back-to-School survey: July 2015
The average undergraduate student
has $27,000 of student debt upon
graduating a 3 or 4 year program.
Source: Avg student debt difficult to pay off, delays life milestones, CBC News Canada, March 2014 -http://www.cbc.ca/news/canada/average-student-debt-difficult-to-pay-off-delays-life-milestones-1.2534974
Wait.
WHAT!?
How are
students
currently
paying
for their
education?
When asked how will you pay for your
tuition, 45% said government loans
while only 39% said scholarships.
Source: yconic Back-to-School survey: July 2015
36% of students will use personal savings
and 28% of students will use personal or
familial Registered Education Savings
Plans to pay for tuition.
Source: yconic Back-to-School survey: July 2015
25% of students will rely on income from a
paying job while only 24% of students will
rely on personal savings from parents and
other family members to pay for tuition.
Source: yconic Back-to-School survey: July 2015
66%
66% of students are worried about
managing their finances as they head
back to school this fall.
Source: Response to the question “When you think about going back to school, what are the 5 things you are
most concerned about?” - yconic Back-to-School survey, July 2015
The less
you have to
pay back
the better.
Here’s how
scholarships,
bursaries and
yconic
can help.
Scholarships and Bursaries – What’s the difference?
Bursaries
- Based solely on financial need
- Commonly require a statement of income and expenses
- Do not need to be paid back
Scholarships
- Can be awarded based on a variety of criteria including hobbies,
interests, grades and financial need
- Require an application which may include an essay or other submission type
- Do not need to be paid back
$170 M
The yconic database
currently holds over $170
million in scholarship
opportunities for students.
$15 million
It is estimated that over $15 million in
scholarships go unclaimed every year.
Source: https://ca.finance.yahoo.com/blogs/pay-day-/millions-canadian-scholarship-dollars-goingunclaimed-193114435.html (2013)
But, but, so
much work!
Scholarship
myths busted.
Scholarships are for “brainiacs”.
“Scholarships aren’t just for geniuses, star athletes
and students in deep financial need. In fact, about
half of all scholarships have no connection to
academic merit, sports or necessity.”
Source: Macleans 2015 Canadian Universities Guidebook
Too many people apply.
I’ll never win.
Not. So. Fast.
Some scholarships have a lot of applicants but
most scholarship programs will award more
than one scholarship during each period.
Besides, you can’t win the lottery if you never
buy a ticket.
Hint: Scholarships with smaller award amounts
usually have less applicants!
Pffft. It’s too much work
and not enough return.
It’s FREE MONEY.
Scholarships, no matter how small the
value, can add up really quickly when put
toward your student debt and smaller
programs are often less competitive.
Ain’t nobody got time for that!
Finding and applying for scholarships can
be time consuming if you don’t know where
to look. 60 seconds is all it takes for us to
match you to over $170 million in scholarships on yconic.com.
Look at the big picture.
1. Scholarships can help you graduate debt free, so you can focus on the important
things after graduation like buying your first car or travelling around the world.
2. Scholarships show that you’re talented and a hard worker. Adding scholarships to
your resume will look awesome to prospective employers.
3. Considering graduate school? Having won scholarships or awards from
organizations or your school looks great on your law or medical school applications.
4. Everyone likes to be rewarded for a job well done. Winning a scholarship is a great
self-esteem and confidence booster.
5. Scholarships don’t have to go toward tuition! You can use scholarships to
help you pay for that new laptop, textbooks and even the food in your fridge!
Okay, okay!
I’m a believer.
How do I get
started?
Find the right scholarships for you.
1. Research scholarships you’re interested in and contact the organization
if you’re not sure about applying.
2. Priority is key. Prioritize based on amount, time needed to apply, and your
interest level. After all, the more interested you are, the more likely you are
to put your best foot forward.
3. Note important dates and add them to your homework schedule alongside
your regular assignments. This will help you manage your applications and your
academic workload.
4. PSSST: becoming a yconic member completes step 1 and 2 for you
– talk about a great shortcut.
Follow the instructions.
Don’t spend all that time completing an application just to find out you
didn’t win because you missed a form or were not eligible.
Read through eligibility criteria
thoroughly and double check your
attachments before hitting send.
Remember: If you’re not sure
of how to fill out a form, contact the
administrator and ask questions.
?
4 steps to perfect assignments and essays.
1. Read the question or assignment thoroughly. Some scholarship essays or
submissions have more than one topic and you need to make sure you address them all.
2. Do your homework and plan ahead. Create an outline based on the requirements and
gain a good understanding of the organization that is awarding the scholarship. This will
help you understand what they’re looking for and how you should frame your content.
3. PROOFREAD. Spellcheck does not catch everything. Take a break from your completed
essay and revisit it the next day – this will help you catch errors that you may have
otherwise missed.
4. Think outside the box! Submit a visual essay. Mail your application in a portfolio.
Apply your creative design skills. Better yet, just be yourself from start to finish.
A deadline is a deadline.
Don’t leave your application
to the last minute. Most
scholarships have the policy:
No Extensions.
No Exceptions!
Your online persona matters.
Social media is everywhere which means your online
profiles are more accessible than ever. Here are some tips
to help you manage your online image:
1. Create a LinkedIn profile – It will likely be at the top of the list when your
name is searched and acts as a great online resume and reference builder.
2. Make your personal pages private. Facebook, Instagram and even Twitter
have this capability. If you’re posting things you don’t want potential funders
to see, enable this feature now.
3. Be mindful of what you’re posting if your profiles are public.
Where can I find these fab scholarships?
Scholarship listing sites including:
- yconic, Scholarships Canada and Chegg in the USA
Government websites including:
- Canlearn.ca and Human Resources and Skills Development Canada
Other:
- college or university financial aid offices, your or
your parents place of employment
Links: https://yconic.com/
http://www.scholarshipscanada.com/
http://www.chegg.com/
How yconic
can help.
15 years
Helping students for over 15 years.
Previously known as “StudentAwards”
yconic has been gathering, creating and
awarding scholarships since 1998.
yconic hosts over $170 Million
in scholarships.
All you have to do to access them is become a yconic
member – which by the way, is completely free.
Being a member truly does have its perks.
yconic awards over $250,000 in member-exclusive scholarships
each year – and most of them have no essay requirement!
More than just financial support.
Worried about applying to school? Not sure
what grades you need to get in? Late night
studying and can’t figure out the answer?
With over 800,000 active members starting
over 125 new conversations daily, the yconic
community is sure to have the answer – and
if not, you just need to ask!
Scholarship information wherever you are.
We know you’re busy.
Join us on social media to stay up to date
on the latest scholarships and deadlines.
Facebook.com/yconic
Instagram.com/yconicstudent
twitter.com/yconicstudent
Have more questions?
Check out our help centre for all your
scholarship and yconic related questions.
OR send us an email to
[email protected]
See you
debt free at
graduation!