Millions in Scholarships Go Unclaimed Each Year

College students across America are walking past free money every single year, and it's not because the scholarships aren't available.

Billions of dollars in scholarship funding go unclaimed nationally because students simply don't submit applications. At Oakland University, more than 350 donor-funded scholarships wait for applicants each year, yet many eligible students never even try.

Nicole Boelk, Oakland's director of financial aid and scholarships, says the biggest obstacle isn't eligibility. It's self-doubt. Students assume they won't win and disqualify themselves before anyone else gets the chance.

"Give yourself a chance," Boelk urges. "Submit the application."

The university has made applying easier than ever. Oakland's annual scholarship application opens December 1 and runs through March 1, using smart technology to automatically match students with relevant awards based on their major, GPA, background, and activities. Students only see scholarships they actually qualify for.

Still, hesitation persists. Senior Maggie Quinn admits she's skipped applying in past years despite receiving reminder emails. Between coursework and campus jobs, finding time for paperwork felt overwhelming.

"I definitely have skipped applying for a scholarship because I didn't think I would qualify," Quinn said. She's not alone in that thinking.

The Ripple Effect

When students don't apply, everyone loses. Donors who wanted to support education see their generosity go unused. Students struggling with rising tuition costs miss out on aid that could have been theirs. Universities can't fulfill their mission of making education accessible.

Scholarship expert Mark Kantrowitz emphasizes that the barrier isn't about qualifications or complicated requirements. The biggest mistake students make is simply not trying.

Oakland reports that it's rare for university-managed scholarships to go unawarded, but that's only because they work hard to connect students with opportunities. The university uses student record data to streamline matching and communicates constantly with eligible applicants.

The money exists, waiting for students who need it. The applications are simpler than many students imagine. All that's missing is students believing the opportunity is truly meant for them.