An increase in search for scholarships due to the economic effects
Schools and colleges are opening slowly but effectively as education, well-being, and the future of the students are on the verge of the financial crisis. Scholly, the leading college scholarship app, with the onset of COVID-19, has surveyed students across the United States to get their thoughts about academics, finances, and more. The COVID-19 Student Impact Report highlights key insights into the unique challenges college students are facing this academic year.
The study shows that students are looking to balance their college dreams with incredible economic challenges.
● 65% of high school students and 60% of college students are attending school 100% remote for the Fall 2020 semester.
● 65% of high school students report being provided with a computer or laptop while only 16% of college students are being provided with the same.
● Despite the sudden and unprecedented shift to online learning in March 2020, 70% of students say their instructors did an adequate job with distance learning.
● Over 70% of student-athletes have had their seasons canceled or postponed until next spring, with hard-hitting effects on both high school and college athletes.
Additional key insights include:
● 54% of students have increased their search for scholarships due to the economic effects of Covid-19.
● 96% of students believe tuition should be reduced due to the challenges brought forth by Covid-19 yet only 7.4% report having their tuition reduced.
● 1/3rd of students who had a job prior to Covid-19 have been unable to find a job for the Fall 2020 semester.
● 70% of students are worried virtual learning will impact them negatively.
Seeking scholarships at unprecedented rates
Scholly’s mission is to help students, connect and find unique challenges they are facing during this pandemic. Through the scholarship app students have won more than $100 million in scholarship awards since its inception. It has seen a 400 percent increase in downloads since the end of March, indicating the dire need of students for additional funds for school.
Scholly Founder Christopher Gray says that the big takeaway from the study is that students are looking for scholarships money at higher-than-usual rates.
“That’s not surprising given the current state of our economy, but it’s telling that so many students – more than 50% – have significantly ramped up their search. This surge in scholarship need is unprecedented”.
