Connect with us

Business & Career

3 Undergraduates Share With Us The Reasons Behind Why They Opt For Scholarship

It’s always about the money?

Considering whether to apply for a scholarship? Or accepting that scholarship offer? Besides the attractive financial benefits that it offers you, there are also other factors that you should think about before you make your decision and opt for a scholarship.

To give us a better perspective of what scholarship applicants should consider, we spoke to three scholarship holders under anonymity to find out what they have to say about their scholarship.

L (Currently An Undergraduate)

How long is your bond and what type of company is it?

My scholarship is without any bond! It’s provided by the school.

How much your scholarship is worth?

It covers tuition fees (around $32,000), a part of on-campus accommodation and provides me with $5000 in travel grant along with $6000 in allowance per annum.

Why you choose to accept it?

The fact that there isn’t a bond was the most appealing factor and I also hoped to ease the financial burden on my family.

Any tips for people looking to take up a scholarship?

Don’t limit your options and don’t be afraid to try! There are a whole lot of options out there and scholarships that you can opt for. So research extensively and find out what suits you best.

Y (About To Graduate):

How long is your bond and what type of company is it?

My bond is 6 years. I’ll be working in the public sector upon graduation.

How much your scholarship is worth?

I am not too sure of the exact amount but I believe it’s around $300,000

Why did you choose to accept it?

Financial consideration was a critical factor as studying overseas is very costly. Having a scholarship would allow me to do that without putting too much financial burden on my parents.

Any tips for people looking to take up a scholarship?

It really depends on which scholarship you choose to take up. For those who are going to apply, all there’s left to do is to impress during the interviews since your CV is pretty much fixed in stone.

T (Undergraduate):

How long is your bond and what type of company is it?

I am on school scholarship. The bond states that I have to work in Singapore for 3 years but it is not specific to any sector/company.

How much your scholarship is worth?

On top of my tuition fees, I receive an allowance of close to $4,000 per academic year. That adds up to about $60,000 to $70,000 in total.

Why you choose to accept it?

My school fees are paid for and I know I don’t need to rely on my parents to pay my school fees. There’s also some allowance that helps to cover my campus stay. Hence my financial burden is almost completely alleviated.

Any tips for people looking to take up a scholarship?

The scholarship looks for a more all rounded person who can excel in academics and also other areas such as sports so my suggestion is to just study hard and to play hard.

Choosing The Right Scholarship

If you are in the fortunate position of being able to choose a scholarship, here is one last tip for you before you decide.

Always choose one that is suitable for you with bonds and conditions that you will be able to cope with in the future. While it may be enticing due to the monetary allowance, you should always weigh the pros and cons first.

All the best for your scholarship application!

Read Also: Here’s How Much 3 Singapore University Undergrads Spent On Their Overseas Exchange

Top Image aims to provide interesting, bite-sized and relevant financial articles.

Learn together with like-minded Singaporeans at the Personal Finance Discussion SG Facebook Group by discussing a range of personal finance topics.

If you have not done so, subscribe to our free e-newsletter to receive exclusive content not available anywhere else.