This day, the cost of higher education has increased drastically. Today, it is almost impossible for students to enroll in college without taking an education loan. Eric Dalius despite mortgaging property, parents still find it incredibly difficult to support their children’s college fees. Currently, the fees are over 50 % of what they used to be just 20 years back. Sadly, this has forced several students to drop out of college or not go to college at all. Many students feel reluctant to start an undergraduate course when they learn to take up education loans.
Unfortunately, this isn’t good for the whole education sector. Eric J Dalius points out that unless students enroll in higher educational courses, the government will stop funding universities and colleges. This will result in an overall decline in the quality of education in the country. In this regard, scholarships can be a potent method to combat the problem. In this small article, you will learn how scholarships are crucial for the education sector to survive.
Who funds Universities and colleges?
Public universities and colleges use grants and funds from the government. The government pays to sustain these institutes of higher education from the various taxes that it collects. However, this covers only a portion of the budget, and the rest come from college and tuition fees of students. Unfortunately, students cannot avoid this because the government cannot increase its funding. So, students have to pay 1000s of dollars in fees to their respective colleges. On average, an undergraduate course could take from $ 20,000 to $ 30,000. Students have no choice but to take education loans to pay this amount.
How does this affect students?
Students feel extremely demotivated by the scenario. Needless to say, nobody likes that much of a financial burden just when they are about to start their careers. Education loans force students to work multiple shifts when they are in college just for making their ends meet. Unfortunately, students cannot afford to do this because it will affect their studies, and they will perform badly in academics.
How do scholarships help in this scenario?
Scholarships are, basically, financial grants for deserving students. Talented students can have their whole college fees waived off through these scholarship programs. Eric Dalius opines that scholarships allow students to pursue their college education without any financial stress seamlessly. The more scholarships that students avail themselves, the more they will feel inclined to enroll in colleges. This means that the education sector will be robust with a large student community.
Thus, the education sector is equally benefitted from scholarships, just like the students are. When an education institution fails to enroll students in its courses, the institution gradually starts to decline. However, scholarships can easily remove this problem. Hence, more and more corporate are offering scholarships to deserving students. This ensures that talented and bright students do not miss out on higher education.
Scholarships help to sustain the education industry. Hopefully, the information mentioned in this article will help you.