The motive of giving away the scholarships was to help the students who were genuinely in need of money to continue with their higher studies. But the participation of the private colleges has worsened the conditions. It is because such colleges are offering huge amounts of scholarships to the students irrespective of the fact that whether the student can pay the fee or not. Distributing huge amount of money has deprived the needy students with the money thus pursuing them to take loans for their studies or drop out. On the other hand, many rich students are selected for the scholarships that could pay the cost of education.
Such a scenario is definitely creating an imbalance and it is the needy students who are suffering the most. There are many reasons why private colleges are offering lump sum amounts of scholarships to the students.
Reward the students with good academic performance
One of the very first reasons of why private colleges are offering lots of scholarships is to boost the confidence of the students who have performed well in their academics. In order to shortlist the students, a merit list is prepared and based on that the students are being offered the scholarship. With such a criteria, the underprivileged children are left behind as they do not get a chance to be a part of the merit list thus losing the opportunity to continue with their studies.
A relief for the medium class families
Though the parents might be earning a huge amount of income but nowadays the standard of living is so high that most part of the income is spent in maintaining that living of standard. So in such a condition, it becomes quite difficult for the parents to pay the fee for their children and get them admitted in top schools or colleges. But the scholarships can overcome this problem as the money can be utilized for paying the fee and fulfilling other basic requirements of the children.
Reduce the burden of the parents
There are many parents who do not have enough money to accomplish the cost of education therefore such a facility is very useful for such students who want to move ahead in life. With the help of the scholarships, it becomes quite easy to pay the fee and other expenses that are the part of your education. So the parents need not worry about the secure future of their children as their studies will get completed and they can look for a good job as well.
Recognition for their hard work
The young generation of today wants to be recognized and this is the reason that they excel in all walks of life. Providing scholarships to the deserving students is a way to appreciate their efforts and the hard work which they have put in. This not only brings up their confidence but students get an inspiration to work even harder so that they can easily accomplish all their aims without any problem.
Hence, these are the few reasons why private colleges are giving away numerous scholarships to the best students.