Scholarships reduce the out-of-pocket cost of education by replacing some or all tuition with grants that do not need to be repaid. Their impact compounds through reduced loan debt and interest saved.
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Pro Tip
Apply for all scholarships you are even marginally eligible for - many small scholarships (500-2,000 GBP) receive under 100 applications, making the odds very favourable.
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Did You Know?
The Gates Cambridge and Rhodes Scholarships are fully funded - each worth 50,000+ GBP for postgraduate study. Fewer than 1,000 applicants compete for each annually.
References
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