R. Gabrielle McCormick

Over the months, we’ve talked a lot about how to get scholarships. However, we really haven’t discussed money management. Although scholarships are great, mismanaging those funds and your own money can land you in some pretty serious trouble. What do I mean?

You have to have some wealth principles and habits in place to maximize your scholarships. Think of it this way:

Money is similar to power or electricity. Compare it to when you’re charging your iPhone, iPod, laptop, or any other electronic device; you leave it there so that it can charge. When you’re ready to use it, you unplug it and do what you need to do. But we all know that when we’re going to be out for a while, we leave our device plugged up until it’s fully charged. If we have to leave before then, we sometimes even charge it in the car. Why? So that when we need it, we can use it.

Think about when your phone gets down to the last 20%. I have an iPhone, so when it’s down to 20% I feel like it’s at 8%. I’m extremely careful about how I use my phone until I can get to my charger. In reality, I should have been more attentive to my phone’s battery and monitored my usage around 60-70%. Money works the same way.

Consider what, where, and how you’re spending your paycheck and allowance. For many, paying for college is like the alert going off that your battery is at 20%. When this happens, most have to resort to student loans, take a semester off, or delay attending college all together. Watch your battery now, so that you can be prepared. If you’re already in college, play close attention to what, where, and how you spend your money.

Here are some scholarships to help boost your battery:

  1. Courage to Grow Scholarship: In 250 words or less, explain why you believe you should be awarded this scholarship. Open to high school juniors and seniors, as well as college students.
    Award: $500
    Deadline: July 31st
  2. Patsy Takemoto Mink Education Support Awards: This award is designed to assist low-income women with children, who are pursing education or training.
    Award: $5,000 (5 Awards Given)
    Deadline: August 1st
  3. The American Road and Transportation Builders Association Video Contest: Create a 2-4 minute video about transportation in the United States.
    Award: $500
    Deadline: August 1st
  4. DoSomething.org’s The Hunt: Every day from August 4 to August 10, DoSomething will reveal a new mystery challenge around a different cause. Applicants must complete each challenge to make a serious impact in their community.
    Award: $10,000 (2 Awards Given)
    Deadline: August 4th

Please reach out if you have a question. Some individuals brought it to my attention that we didn’t feature enough scholarships for graduate students. Now, it’s my goal to make sure to have at least one each week. So if you want to see something addressed or particular scholarships, just let me or the Commit! Team know! Happy Tuition Tuesday! ☺