‘Someone please tell me where to find the unclaimed scholarships. I need the money.’
FACT: Providers do not create scholarships with the intention of not disbursing the funds. The myth about millions in unclaimed scholarship money has been around for over 30 years. It started with a 1976-77 academic year study by the National Institute of Work and Learning.
The study estimated that a total of $7 billion was potentially available from employer tuition assistance programs, but that only about $300 million to $400 million was being used.
There are some programs like the Zolp Scholarship offered at Loyola University, which have such unusual requirements that an eligible applicant may not be available every year, but these programs are small and open to a very limited number of students.