Sizing Up Your Chances in the Scholarship Market | Edukasyon.ph

Sizing Up Your Chances in the Scholarship Market

Many people worry about their chances of getting a scholarship.

Every year, more than 700,000 new students pursue higher education, making up over three million college students in the Philippines.

With the sheer number of students eyeing a limited amount of scholarship slots, how many scholarship slots are actually available? And the more important question is: how much chance do you actually have?

Much more than you think.

If we think of scholarships as beyond just “full-awarded scholarships” to any subsidized education, more than half of nearly 3 million college students get some form of financial assistance.

So where do we start our count?

Plenty of Slots in Foundations and Corporates

To start off, this is the type of scholarship you “apply” for, and is the first thing that comes into mind when one thinks of scholarships. The number of scholarship slots that many non-profit foundations offer changes annually so many scholarship providers do not advertise how many slots they have as a result. Note that many providers offer scholarships on a per-year basis, while some offer to cover the entirety of a 4- or 5-year college course (and therefore do not have “new slots” per year.)

Instead of giving you a number of scholarship slots, you can get a glimpse of the broad picture. Just imagine that there are hundreds of nonprofit foundations in the Philippines alone, with the largest foundations offering hundreds of slots per year. That’s a lot! Just be sure to mind the course and school requirements of these specific scholarship programs!

Free Tuition Act Gives More Scholarships

Foundations do offer a decent amount of scholarship slots, but are they enough?

If you are entering a state-owned college or university, then the signing of RA 10931 (known as the UAQTEA or the Universal Access to Quality Tertiary Education Act) will surely benefit you. This law provides free tuition and other miscellaneous fees if you enroll in a state college or university.

Presently, the public education system has the Student Financial Assistance Program as an existing student financial assistance program, which is partially subsidized and covers at least 150,000 students in total. The latest figures from CHED estimate that over 1.4 million students are direct and indirect beneficiaries, even without the effect of RA 10931.

Of course, free tuition doesn’t mean everything is covered. There are costs that you have to consider for board and lodging, food, and transportation, so be sure to factor these in!

Private Schools Offer Their Own Scholarships

Lastly, many private higher education institutions (or HEI) offer academic or merit-based scholarships depending on the size of the school, as well as financial assistance or need-based scholarships, to students in need. School alumni may also provide financial aid to current students. Of course, the catch is for you to be admitted into the university first, and even then, this might only be available to certain courses.

But with over 1,600 private higher education institutions in the Philippines, along with more than 200 state universities and colleges, there are plenty of opportunities for students to grab a piece of the scholarship pool. Students often miss out on this type of scholarship, as admissions are required before they become eligible for the scholarship.

But it never hurts to try! You should check out whether your target school offers that scholarship or aid you need, and try applying for it!

Read the Fine Print and Check Your Options

So it is established that there are many scholarship providers out there willing to help out Filipino students, whether it’s a foundation, the government, or your own school. The size of the accessible scholarship funds, however, does matter depending on what course you enroll in and what school you enter. So be sure to read the fine print and check whether your target course and specific school is eligible for the scholarship you want, prior to making your decision.

Understandably, these choices can be a bit overwhelming.

Having to do your own searches is tedious and you want to balance quality education with your own financial constraints. The scholarship pool is so big that some may need help navigating through the countless options and requirements.

Need help on finding out whether your target school and course qualify for scholarships? Check out our list of available scholarships to help you better! Or learn more about Scholarships on Edukasyon.ph!