Student Scholarship Survey Highlights College Affordability Crisis

November Is National Scholarship Month

MINNEAPOLIS, Nov. 2, 2022 /PRNewswire/ -- A national survey of more than 500 student scholarship recipients found that financial aid was essential to paying for college for most of those students. Among those who responded, 90% said scholarships are extremely helpful or critical to their ability to stay in college. The annual survey was conducted by Scholarship America, the nation's largest provider of private college scholarships.

Digging deeper into the responses, we found that:

• 86% of scholarship recipients are able to reduce their need for student loans
• Eight out of 10 recipients say they have more time to focus on their studies
• 72% say their scholarships are what allow them to stay in college

A total of 521 students responded to the online survey. The survey was conducted from September 14 to October 9.

"This is a reflection of how much students and families are facing a college affordability crisis," said Scholarship America CEO Mike Nylund. "As important as scholarships are for students, we need to take a fundamental look at how college is paid for in America."

Illustrating the scope of that affordability crisis, the National College Attainment Network (NCAN) found a rapidly growing gap between the resources available to students and the cost of a college education. Their most recent study revealed that just 23% of U.S. four-year public colleges were affordable.

To boost awareness of the issue—and the ways scholarships can help—November is National Scholarship Month (NSM). NSM was created by Scholarship America along with NCAN and fellow scholarship providers to recognize and encourage communities, organizations and businesses to join the movement and improve educational opportunities for students in need.

Scholarship America is a nonprofit organization that eliminates barriers to educational success so that any student can pursue their dream. Since 1958, Scholarship America, the largest private scholarship provider in the U.S., has distributed $4.9 billion to more than 2.9 million students. The organization works with partners to lower barriers to a college education and give students the support needed to succeed. Learn more at scholarshipamerica.org.

Contact:

Andrea N. Smith

952-830-7316

 [email protected]

SOURCE Scholarship America