Thursday, June 18, 2009

The truth about scholarships mentioned at graduation


When you hear at graduations about the vast sums awarded to individuals, or to the entire student body, remember that it's mostly nonsense.

Don't get me wrong. If you had access, and dug into the numbers, they
would probably add up. Still, they are probably meaningless. How can
that be?

It's simple. High schools ask students to report the total amount of
awards they've been offered and then report the total to the public. The
problem is that a student may have been offered awards from several
colleges. Needless to say, each college will only supply the award if a
student chooses to attend that particular college.

This vastly overstates the amount of real money each student "gets." If
you didn't realize this, you might be tempted to wonder what's wrong
with you--or with your child. Please don't.



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