It's National Scholarship Month
NOVEMBER IS NATIONAL SCHOLARSHIP MONTH, A MONTH-LONG CELEBRATION BY THE NATIONAL SCHOLARSHIP PROVIDERS ASSOCIATION (NSPA) TO BUILD AWARENESS OF HIGHER EDUCATION SCHOLARSHIPS.
Since 1998, the event (formerly known as Citizens’ Scholarship Foundation of America) has recognized those businesses, organizations, and communities that are committed to the scholarship industry, while encouraging others to participate in this important effort.
Scholarships play an important role in fostering access to higher education while reducing student loan debt. While there are substantial scholarship opportunities for students, many resources go untapped each year. For instance, there were roughly $2.6 billion in unclaimed Pell Grants in 2018-19. And an additional $100 million in other scholarships go unrewarded annually.
Scholarships = Access + Success, the NSPA writes, a winning formula at the heart of National Scholarship Month efforts, which have been shown to increase college graduation rates. And scholarships are not awarded merely to top students. There are many factors that scholarship providers use when awarding a scholarship, such as family circumstances, extra-curricular activities, and community activism, among others.
To help support the event, NSPA provides free downloads of graphics, banners, social media content, and messaging. Suggested ways that you can support the scholarship industry include:
- Post personal stories about how scholarships made a positive difference in your life or the lives of others.
- If your company offers a scholarship program, share facts about the program and how to apply for consideration.
- Promote a National Scholarship Month Challenge, urging students to participate.
For those applying for a scholarship, the NSPA urges vigilance against scam offers. For instance, legitimate scholarships never require that applicants pay a submission or registration fee — or any other fee for that matter.
National Scholarship Month has made a profound difference in the lives of hundreds of thousands of students. According to the NSPA, during the 2016-2017 academic year, NSPA members awarded more than $2.5 billion in scholarships to more than 500,000 students.
For more information about National Scholarship Month and to find resources for joining the association’s scholarship efforts, visit the NSPA website.
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This material was prepared by LPL Financial.
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