Why Rethinking Scholarships and Student-Business Relations is a Good Thing

The other day, I heard a story about financing students. Several companies have decided to offer loans to students, and hire them once they graduate. The catch? Once they’re hired, their salary is decreased for a period of time, until they pay off the loan.

My friend was talking about this model with a gleam in his eyes. After all, the financial reality hits us all hard during studies. And the prospect of getting a job immediately in an oversaturated market is obviously worth being underpaid for several years.

Is it, though?

There is an obvious benefit for the companies in this model – the loan is safely returned and they get an excellent employee. But, what happens when they don’t have the need for the aforementioned employee? And, how motivated is that employee going to be, knowing they are paid less than some slacker who didn’t need the loan?

There has to be a better way for both sides.

Two roads

Of course, standard scholarships can rarely secure a job afterwards. The more prestigious ones are a nice reference and addition to CV – but, being prestigious, they are also the hardest to get. Hence the interest in the loan/job model.

Every high school and college counselor worth their salt wants the best for their students. In terms of financial help, the options usually boil down to either scholarships or loans. Or a part-time job, which is a problem in itself for the pressure it puts on students.

But, what if there was another venue? The one where students can get scholarships and so much more?

Connecting businesses with students

Scholarship.app is a platform that helps small- and medium-sized businesses create their own scholarships and give back to their communities. The idea behind the platform is to organically connect businesses with students who seek financial help, and see them both thrive.

This is done in several stages: the platform’s wizard guides scholarship providers through the process of creating a scholarship, hassle-free. We provide all the support: from creating a profile, setting up scholarship forms, to customizable legal templates that accompany a scholarship.

On the students’ side, the process is just as easy: we ensured that signing up and applying is fast, through a few clicks. Students are notified via email of their status, and sent important documents in case they win a scholarship.

In it for the long haul

But, wait. Why should high school and college counselors explore this venue?

The truth is: the nature of small-and medium-sized businesses is vastly different than that of giant corporations. And it makes all the difference for the students.

Where corporations’ scholarships are driven by altruism and tax deductions, small-and medium-sized businesses are typically in it for the long haul. Meaning, because they have to be more careful with their budgets, these businesses strive to build long-term relations through scholarships.

Students’ chances of getting a job skyrocket when we shift focus from highly competitive, limited positions in corporations, and instead look at innumerable small-and medium-sized businesses.

The best thing? Applying for these unique scholarships puts students directly on the radar of these businesses. In case they need a summer intern, or an employee, who are they likely to call? That’s right – those students whose excellence and dedication they already know about.

And these students have already started building good relations with them.

Did we mention that the financial effect is the same? Or better, since there is no loan to return?

Just like Rick Blaine said to Louis Renault in Casablanca: “I believe this is the beginning of a beautiful friendship.”

Scholarship disruption is a great thing

Movie references aside, disruption in scholarships means looking at the relationship between students and scholarship providers through a different lens.

Students can now start building and preparing for their future after graduating. And small-and medium-sized businesses have a vehicle that enables them to help and get to know their potential employees.

Scholarship.app is an intermediary that connects the two in a seamless, effortless and organic manner. We want to see successful communities being built.

Check out our website and browse through all the devoted businesses ready to invest in these relations.