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Future of Education Podcast

S E27: Getting the Scholarships You Need -- Shaan Patel // Prep Expert

Feb 8, 2024
Shaan Patel, Founder of Prep Expert, discusses getting scholarships for higher education. He covers the SAT going digital, securing scholarships, merit-based aid, state school honors programs, external scholarships, local scholarships for underrepresented minorities and first-generation college students, and making informed financial decisions. The podcast provides valuable advice and encouragement for parents of high school students.
15:54

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Merit-based scholarships can significantly reduce the financial burden of higher education by covering a significant portion of tuition fees based on a student's grades, test scores, and extracurricular activities.
  • Local scholarships, often overlooked, provide an opportunity for students to receive financial support while pursuing education at any university, as they are not restricted to in-state colleges.

Deep dives

Importance of Merit-Based Scholarships and Financial Aid

Merit-based scholarships and financial aid can play a significant role in helping students access higher education. Contrary to common misconceptions, scholarships are not impossible to acquire. In fact, a study by the US Department of Education revealed that high-achieving students receive an average of 58% of their tuition paid through merit-based financial aid. These scholarships are often offered by universities based on a student's grades, test scores, and extracurricular activities. To maximize opportunities for financial aid, it is advisable to apply to universities that provide merit-based scholarships in addition to need-based aid. While Ivy League universities focus on need-based aid, many other universities offer merit-based scholarships to attract talented students.

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