Three New Tools Under Our Belt

Spring is time for new things, and do we have a few surprises in store!

We’ve just updated and added new features to the ScholarshipOwl platform so that you, the students, can benefit even more!

Namely, there are three things you should pay attention to and use from now on. All three are equally important and potent in helping you get that scholarship faster!

How Many Is Too Many?

Ok, so let’s imagine a scenario where you apply for a scholarship, and your buddy applies for another one. You both have similar grades, scholarships’ requirements are fairly similar, and – you don’t get it, but your buddy does. What gives?

What you didn’t know was that your scholarship had 10,000 applicants, whereas your buddy’s had measly 100.

At ScholarshipOwl, we often say that scholarships are a numbers game, and we mean that.

Well, numbers are about to get much clearer. Because – The first new feature we launched is the applicant count.

Follow the Count and Decide Where Your Best Chances Are

From now on you can, at any point, see how many students applied for the listed scholarships. Why is this important? Because you can immediately eye your chances and figure out if that scholarship is something you want to invest your time in.

Exciting? You bet.

Applicant Count Reveals Scholarships With Higher Chances of Winning, That Normally You Wouldn’t Even Look At

Furthermore, as we followed scholarships on our website, we noticed an interesting trend – for example, there were scholarships with 7,000 applicants and then there were those with only 7 applicants, offering large sums of money.

What’s the catch?

The scholarship with 7 applicants had an extra requirement: you had to write an essay, and a lot of people gave up because of this. This also means that the people who decided to power through and write the essay unknowingly had significantly higher chances of winning the scholarship. Imagine if you knew from the start that only 7 people applied? 

Now you know this tweak, and it’s a huge advantage over platforms that don’t offer the applicant count. You might have given up in the past because of the essay; from now on, it’s time for informed, intelligent decisions.

Not bad for starters, eh?

It Is Important to Have a Tool That Checks Scholarships’ Transparency

The second, equally important parameter we introduced is the confidence score. What does this mean?

Well, let’s say you found a good scholarship that matches your profile. The applicant count is solid and you’re thinking of applying. But…

You glance at the confidence score and it’s only 12%. Ouch.

The confidence score ranges from 0 to 100% and it shows how transparent a scholarship provider is. The higher the number, the safer the scholarship and lower the chances that you’re wasting your time.

Opting for Super Secure Scholarships Saves Time and Effort

A special class within this feature are the so-called verified scholarships. These are scholarships with a 100% confidence score. Safe all the way? Yes.

And how do we know? Because through our other product, the ScholarshipApp, we handle these scholarships and payments related to them, which means they are already in escrow and you will certainly (100%) get the funds if you win them.

Of course, this doesn’t mean that every scholarship you apply to has to have a 100% confidence score – sometimes scholarship providers can’t divulge all the information regarding their scholarship, for justified reasons.

Knowing a Confidence Score Range Helps You Make Decisions Quickly

A good rule of thumb is this: scholarships with a confidence score lower than 35% haven’t been most forthcoming in their communication with ScholarshipOwl, meaning – think carefully about these. These providers don’t announce winners regularly so we at ScholarshipOwl cannot guarantee the winning payout.

On the other hand, any scholarship with a confidence score higher than 75% is a pretty safe bet. They announce winners regularly and ScholarshipOwl has open communication with them – we just don’t handle their payments through ScholarshipApp.

Just be smart and selective. Confidence score and applicant count, combined, are a powerful way of pre-screening which scholarships you should devote time to.

Pick Me, Pick Me – and Never Lose a Scholarship

The third feature has been on our platform for quite some time, but now it’s redesigned – the ability to pick scholarships. And by pick, we mean save certain scholarships for later viewing.

Why is this useful? Well, maybe there are lots of requirements that need to be fulfilled. Or you aren’t sure about the parameters you’re seeing (applicant count and confidence score) and want to come back later and think clearly.

Either way, there’s no need to apply right away. Sure, we need to respect deadlines, but for most scholarships, you can strategize and plan how, when and if you’re going to apply.

Putting It All Together – Recognize the Value and Use the Features to Your Advantage

So now that you know all the cool and useful new features on our platform, how do you want to proceed?

First, it’s important to realize the time-saving value of these parameters. Where earlier you might have lost time, effort and energy, now you can be smarter about which scholarships to apply for.

Second, make sure to utilize all three features – they’re there for you and to make your life easier, and your budget fuller, quicker.

How do you do that?

Start by looking at the applicant count and confidence score. Are there too many applicants? Is the confidence score satisfactory? Think about applying for scholarships with a high confidence score and a low number of applicants, since your chances for getting those scholarships are high(er). Finally, if you’re unsure, use the scholarship picker to save the posting for later.

And, finally, have fun! These features are meant to help you but also to broaden your horizons and get you thinking in new, creative, more beneficial ways!

Check out our platform and start leveraging these cool new tools to your benefit immediately.