Only about 1 in 8 college students wins a scholarship, and the average amount used to pay for college is about $4,200 a year. Among the students who win scholarships, 97% win $2,500 or less. Even students who win a gazillion dollars in scholarships get dozens of rejections for every scholarship they win. After you win the scholarship the first time, you can keep on receiving it each year you are in college. Some scholarship recipients have written such heartfelt and genuine thank you letters that the scholarship provider decided to turn a non-renewable scholarship into a renewable scholarship.

Source: Forbes November 16, 2020 19:30 UTC