Studying in an international environment gives you the opportunity to make lifelong connections from an array of different backgrounds. However, overcoming the challenges that studying abroad presents, will lead you to become a more mature person. Moreover, it will help you to thrive in new circumstances, and improve your self-reliance. The improvement of skills such as language, communication, and adapting to unexpected situations will enhance you to be more confident. These are the traits that enrich your career. Therefore, for a shining future, students are more anticipated to study abroad. Unfortunately, due to the high expense rate abroad, many students have to sacrifice their life-long cherished dream. But luckily some scholarship programs are being realized to solve their problems. One of those programs is the ‘Pay It Forward Scholarship’. In this article, I am going to illustrate this scholarship program so that you gain a profound knowledge of it.
The Pay It Forward Scholarship is a merit-based award for first-generation college students. The scholarship provides financial assistance to THF alumni for their academic and career pursuits in the media, entertainment, advertising, or tech industry. The motto of the ‘Pay It Forward Scholarship’ is to provide premier career-focused education to empower students with academic training, technical expertise, and professional support to launch or advance their successful careers. They legitimately aim to transform lives by preparing students for career success.
The Pay It Forward Scholarship is available for graduating high school seniors, undergraduate students, and graduate students who have a GPA of 3.0 or higher. Applicants must submit an essay about how they are working to make the world a better place. Scholarship judges will consider academic and professional achievements, but the primary focus of award selection will be based on the quality of submitted essays. This is basically loan-type financial assistance. Scholarship winners do not need to pay while they are learning. Afterward, they have to refund the money they got if they can earn more than $40,000 / year. After leaving the institute, scholarship recipients have to make monthly payments based on a small percentage of their salary.
Scholarship Value: The total amount awarded for this scholarship is approximately $1,500.
1. Payment Method: You need to pay back the same amount each month, no matter how much you earn. With Pay it Forward, if your income shrinks, so does your payment. And if you earn less than $40,000 / year, your payment is zero.
2. Fixed Term and No Interest: You’ll never have to make more than 72 monthly payments. As there’s no interest, so, you’ll never have a growing balance. Moreover, you’ll never make payments while you are in the institute.
3. No Credit Score Requirements: They believe in students, and through Pay it Forward, they’re betting on your future. Due to this, there’s no minimum credit score required to participate, and you don’t need a co-signer.
To be eligible for a Pay It Forward Scholarship, applicants must:
- have successfully completed a THF summer, fall and/or spring internship, regardless of the internship year,
have a minimum GPA of 2.7.
- be currently enrolled as an undergraduate or graduate student at an accredited college or university.
- must maintain full-time enrollment for the upcoming academic year.
- be a first-generation college student, a student is considered first-generation if neither of the student’s parents earned a college degree at the baccalaureate level or higher.
- not have received a Scott Weiss Scholarship within the last three years.
- Alumni are eligible to receive a maximum of one award from the Pay It Forward Scholarship.
Applicants must submit the following documents:
- online application,
- 500-word essay,
- one-page resume,
- Academic or professional recommender’s contact information,
- current FAFSA, and
- unofficial transcript from the institution where they are currently enrolled. Graduate students are required to provide both an unofficial undergraduate transcript and a graduate transcript, if available. To apply for this prestigious scholarship program, visit this website.
Scholarship Deadline: Early October each year.
To summarize the above writing, I would like to state that tuition is on the rise nationwide, and scholarships give access to higher education for students of all income levels. Scholarships decrease the number and amount of loans students need to take to complete higher education. However, scholarships teach philanthropy because by being the student recipient of a scholarship, the students will become philanthropic themselves and “give back” when they are financially able. Hence, I recapitulate that the ‘Pay It Forward Scholarship’ is a golden opportunity for all the scholars who aspire to study abroad. Therefore, if you are eligible for this prestigious scholarship program, try your luck as soon as possible and apply for the scholarship. If you like my article, don’t forget to share it with your friends. For more such updates, wander here regularly. Best of luck to all the eligible candidates for this scholarship program.