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WHAT ARE MICRO SCHOLARSHIPS AND ARE THEY WORTH IT?

One of the biggest challenges that high schoolers and college students face is figuring out how to pay for their degrees. Fortunately, there is a wide array of scholarship opportunities, including a relatively new option called micro scholarships.

Generally, micro scholarships come with smaller awards, so some students aren’t sure whether working toward them makes sense. If you and your student are wondering, “What is a micro scholarship, and is getting one worth it?” here’s what you need to know

WHAT ARE MICRO SCHOLARSHIPS?

Generally, micro scholarships for college students are defined in one of two ways. First, it can refer to a more traditional scholarship that has a small award amount, typically below $500 or $1,000. Second, micro scholarships is a term used to describe a relatively new entry into the world of scholarships that involves getting small awards for activities students are doing anyway.

Generally, the first type of scholarship is relatively easy to understand. However, the second version doesn’t use many of the traditional processes. Instead of relying solely on scholarship applications, students use a platform to log specific activities and achievements. Then, those accomplishments can lead to various awards that help cover the cost of tuition.

The awards associated with the second type of micro scholarship are often offered directly by colleges and universities through a broader platform. Usually, what’s required to secure an award is clearly stated, giving students a specific target to work toward.

HOW DO MICRO SCHOLARSHIPS WORK?

Micro scholarships that rely on a traditional process – simply offering a smaller scholarship award – work like most other scholarships. Students complete an application, write any required essays, provide requested documentation, and wait to see if they’re selected. If chosen, students can then direct the funds toward their education, though the exact process for that may vary depending on the program.

With the newer type of micro scholarship, the process is a bit different. After creating an account on the platform, students search for the colleges they’re interested in attending and learn the requirements for various awards. Any award offers are only good at a specific school. As a result, if a student completes the requirements and is eligible for the funds, they also need to apply, secure admission, and enroll at that college. If they attend another school instead, the awards from the other school don’t transfer.

Generally, the achievements that students need to accomplish for the newer micro scholarships are straightforward. Attending AP courses, engaging in extracurricular activities, volunteering, finishing the FAFSA, and similar tasks are all potentially part of the equation. However, every college gets to determine which actions lead to a micro scholarship, so awards through one university may differ from what’s available through another.

How much each achievement is worth varies, but the values are usually relatively small. Some accomplishments may earn a student a $10, $20, or $40 scholarship, for example. However, those small awards can add up. Plus, since they’re activities students are already doing in many cases, it doesn’t require extra effort beyond completing a profile and providing any needed proof that they finished the task.

WHAT ARE MICRO SCHOLARSHIPS AND ARE THEY WORTH IT?

One of the biggest challenges that high schoolers and college students face is figuring out how to pay for their degrees. Fortunately, there is a wide array of scholarship opportunities, including a relatively new option called micro scholarships.

Generally, micro scholarships come with smaller awards, so some students aren’t sure whether working toward them makes sense. If you and your student are wondering, “What is a micro scholarship, and is getting one worth it?” here’s what you need to know.

WHAT ARE MICRO SCHOLARSHIPS?

Generally, micro scholarships for college students are defined in one of two ways. First, it can refer to a more traditional scholarship that has a small award amount, typically below $500 or $1,000. Second, micro scholarships is a term used to describe a relatively new entry into the world of scholarships that involves getting small awards for activities students are doing anyway.

Generally, the first type of scholarship is relatively easy to understand. However, the second version doesn’t use many of the traditional processes. Instead of relying solely on scholarship applications, students use a platform to log specific activities and achievements. Then, those accomplishments can lead to various awards that help cover the cost of tuition.

The awards associated with the second type of micro scholarship are often offered directly by colleges and universities through a broader platform. Usually, what’s required to secure an award is clearly stated, giving students a specific target to work toward.

HOW DO MICRO SCHOLARSHIPS WORK?

Micro scholarships that rely on a traditional process – simply offering a smaller scholarship award – work like most other scholarships. Students complete an application, write any required essays, provide requested documentation, and wait to see if they’re selected. If chosen, students can then direct the funds toward their education, though the exact process for that may vary depending on the program.

With the newer type of micro scholarship, the process is a bit different. After creating an account on the platform, students search for the colleges they’re interested in attending and learn the requirements for various awards. Any award offers are only good at a specific school. As a result, if a student completes the requirements and is eligible for the funds, they also need to apply, secure admission, and enroll at that college. If they attend another school instead, the awards from the other school don’t transfer.

Generally, the achievements that students need to accomplish for the newer micro scholarships are straightforward. Attending AP courses, engaging in extracurricular activities, volunteering, finishing the FAFSA, and similar tasks are all potentially part of the equation. However, every college gets to determine which actions lead to a micro scholarship, so awards through one university may differ from what’s available through another.

How much each achievement is worth varies, but the values are usually relatively small. Some accomplishments may earn a student a $10, $20, or $40 scholarship, for example. However, those small awards can add up. Plus, since they’re activities students are already doing in many cases, it doesn’t require extra effort beyond completing a profile and providing any needed proof that they finished the task.

WHERE TO FIND MICRO SCHOLARSHIPS

Generally, the micro scholarships that are similar to more traditional application-based options are found like any other scholarship. Students can perform searches, complete the applications, write the essays, and handle the other requirements.

For the newer achievement-based micro scholarships, most students need to create a profile on a platform that colleges use to offer these awards. Here’s an overview of one of the most popular options and an alternative that’s worth considering.

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