There are different ways to earn scholarship money but most programs have application processes with certain demands. Usually, students are required to submit quite a lot of information including GPAs, transcripts, test scores, resumes, and so on.
Some scholarship programs may even ask you to write several essays and grade requirements, while others don’t demand any essays at all. All in all, why not try it when you don’t have much to lose?
Here is how teens can now get an easy scholarship for just learning how to handle money.
Free Monetary Incentives for Teens
How do you earn a scholarship? Are you asked to provide your GPAs and test scores? Do you need to write an essay in order to apply for it?
Well, here is one attractive program that offers a free monetary stimulus for students to learn more about personal finance. The company Raise.me is eager to provide teens a scholarship of $1000 for just completing a personal finance course online.
This organization was set up in 2012 and it partners with various universities and colleges. Their goal is to offer teens scholarships for accomplishments like getting high test scores, volunteering in their communities, getting a job, and achieving excellent grades.
How Can You Earn This Scholarship?
In order to achieve this $1000 mini scholarship, teens and high school students need to complete a series of financial lessons on EverFi, which is a digital learning website.
The lessons presented on this resource vary from credit scores, savings, and taxes to investments. Once the students have successfully completed this program, they will get the scholarship to one of the colleges, including Oberlin College, The University of Rochester, and the University of San Diego.
However, there is one important thing to mention – you can receive the scholarship only if you enroll in this college.
The Benefits of This Scholarship
The majority of colleges and schools provide financial help for enrolled students to help them stay on track and keep studying until they graduate. This way the best students will not have to look for side jobs.
The benefit of Raise.me is that its founders believe having these conversations earlier is better for the students and will encourage them even more. It will also help the teens to understand the information about personal finance and apply it while going through the college application process.
Students should realize the cost of college, federal and state aid, as well as scholarships in order to make a wise decision.
Bonus: Get private student loans.
Is It Important to Learn about Credit Cards in High School?
Of course, there are a number of other companies concentrated on bringing financial literacy to teens and college students.
Personal finance programs across the USA are significant to help students learn more about money and how to use it wisely. Those students who perform well and get excellent results in a Personal Finance Challenge quiz received $14,000 in scholarships from the Nebraska Educational Savings Trust.
In the meantime, students from Jefferson High School in Tampa learn how to set their budget and save for retirement using a special program called Foundations in Personal Finance.
According to the recent surveys, the students and teens who study personal finance will more likely to repay their credit cards on time, save money for their future, and have higher credit scores. So, it can be really useful to implement such financial literacy programs even in high schools.
However, this new strategy has already met some resistance and not all the stated encourage it. In fact, only 17 states are nowadays demanding their students to take a personal finance course in high school, including New York, Florida, Tennessee, and Virginia.
Among these states, only 5 make high school students complete a personal finance course in order to graduate from college.
P.S.: Learn about student loans without a co-signer.