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The Importance of Applying for Scholarships


Attending post-secondary education is a considerable investment in yourself and your future. Thankfully, millions of dollars in scholarships are available in Canada, which can help bridge the gap for students wishing to continue their studies.

The competition for scholarships may have you thinking, “Why should I apply? I won’t win.” However, you should not let that stop you, and here is why:

You Have Nothing to Lose

Applying for scholarships is free. Don’t let your fear of rejection hold you back; you can’t win if you don’t apply. 

Appreciate Yourself and Gain Skills

The scholarship application process forces you to focus on your strengths and best qualities. It can even encourage you to discover new positive attributes about yourself. The newfound confidence you will uncover through this process will stay with you throughout your schooling and career and empower you to be the best version of yourself. 

Applying for scholarships can help refine your research and application skills. Whether you are selected to receive the scholarship or not, these skills will prove beneficial in your adult life when you are looking and applying for jobs. 

Ease Financial Burden and Minimize Your Debt

According to Stats Canada, the average undergraduate student in Canada will pay $7,076 in tuition fees in 2023. The school, field of study, and other variables can also affect this value. Tuition for programs such as the Executive Master of Business Administration program can cost more than $50,000. Scholarships help to reduce the cost of attending post-secondary education and minimize school-related debt. Easing the financial burden of post-secondary education allows students to focus on their studies and enjoy their educational experience to the fullest. 

Receive Recognition and Celebrate Who You Are

Many students assume that scholarships are just for honour roll students who excel in extracurricular activities, but that is untrue. Scholarships highlight and celebrate students’ achievements, both academically and otherwise. Scholarships can be based on athletics, financial need, community involvement, leadership, and the program you are enrolled in. Additionally, there are scholarships available specifically for students with various racial, ethnic, and cultural backgrounds, disabilities, or other unique qualifiers.

Goes Beyond Financial Assistance

While the money is a significant perk, scholarships can benefit you in other ways. Listing scholarships you have received on job applications and resumes shows that you are self-motivated and helps distinguish you from the competition. Some scholarships can even lead to internships, prospective jobs, mentorships, and networking opportunities through the scholarship benefactor.

Take advantage of the scholarship offerings available to you and start applying today! Talk to your high school guidance counsellor, reach out to an academic advisor at your post-secondary institution, or conduct your own research to see what scholarships you are eligible for. 


Sunrise Credit Union offers $24,000 in scholarships to help support students in our region.

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