Merit-based scholarships are a good way for students to help pay for college. However, the world economic crisis has affected these scholarships as well. In this article, Charles Kirkland will discuss how these scholarships are affected by the world economic crisis and what you can do if your merit-based scholarship is in jeopardy of being taken away or reduced.
How the world economic crisis affects merit-based scholarships
Merit-based scholarships are less common than need-based scholarships. In the US, for example, merit-based scholarships only account for about 20% of total college funding. However, in other countries such as China or India where the economy has grown rapidly over the past decade and there are fewer resources available for higher education institutions and government programs like student loans or grants, merit-based scholarship programs have become more popular as an alternative to getting a loan from a bank or other financial institution.
In addition to being more common in some countries than others depending on their economies’ current state (or lack thereof), there are also differences between how much money you can earn each year through different kinds of merit awards:
Merit-based scholarships can be affected by the world economic crisis.
Merit-based scholarships may be affected by the world economic crisis. The world financial crisis, also known as “the Great Recession” or “the Global Financial Crisis” (GFC), is the most severe economic downturn since the Great Depression of 1929-32. It began in 2007 and was triggered by a breakdown in lending practices that ultimately resulted in a massive global credit crunch.
The effects of this economic downturn have been felt around the world and have had far-reaching consequences for students who rely on merit-based scholarships to pay for their education costs.
What is a merit-based scholarship?
A merit-based scholarship is one that is awarded based on academic performance. This can be done by a college or university, but it can also be done by private organizations like foundations, corporations and even alumni associations.
In some cases these scholarships are need-based (meaning they’re intended to help students who can’t afford tuition), but not always; some of them are simply awarded to students with high GPAs or SAT scores regardless of their financial situation.
The world economic crisis has affected many good things, including merit-based scholarships.
The world economic crisis has affected many good things, including merit-based scholarships. The scholarship industry has been hit hard by the recession and is struggling to stay afloat in an increasingly competitive market. As a result, many student applicants have found themselves unable to secure funding for their educations because of tightened budgets at their universities and other sources of funding such as private organizations or government agencies.
In this article we’ll look at how you can still find money for school even when faced with limited options.
We hope that you have found this article informative and helpful. We understand that the world economic crisis can affect many things, including merit-based scholarships. However, we also know that there are still plenty of opportunities available for students who want to pursue their education in the United States or abroad.