Brand scholarships are a great way of giving back 

When you sponsor a scholarship, you are helping deserving students, who otherwise may not be able to afford higher education and reach their potential. This places them in a position where they can have the opportunity to make meaningful contributions to society in the future. 

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Brand scholarships enhance your brand with college students

By sponsoring a scholarship, you will be elevating the image of your brand within the college student community, including their families and friends. We are talking about a huge segment of the population: 1.8 million college students in Canada in 2023. So, why wouldn’t you want to increase the appeal of your company and products with the wide student audience, especially since the 18-24 age group is one of the most difficult for brands to reach?

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Brand scholarships help choose achievement gaps

College students do not start on the same playing field. Students who come from higher income families and whose parents have a college degree tend to do better than students who are the first in their families to go to college (first-generation students) and come from low-income families. The achievement gap between the two groups is stark. Students in the former group are 43.1 percent more likely to earn a degree than the latter. About 46.8 percent of students who are both first-generation and low-income leave college without a degree. A brand scholarship would help alleviate financial need, so deserving students can stay in school and complete their education. This would help close the achievement gap between the halves and the halves-not and ensure greater social mobility for future generations.
 

Brand scholarships raise brand awareness

Sponsoring a scholarship for high school students may help you introduce your brand to a new demographic, the high school students who are unaware of it. It will also increase your brand’s profile among students who do know about your brand.

In 2023, there are 4.9 million high school students in Canada alone. Let’s not forget that you will also be increasing brand awareness among their families and friends. It makes perfect sense for brands to use scholarships to connect with this waiting audience.  The combined audience between college and high school aged kids essentially dictates every current trend in pop culture, deciding if your brand is cool, or not.

Brand scholarships inspire brand loyalty

A traditional high school through university path takes an average of eight years — four in high school and four in college or university. That’s how long you have to inspire brand loyalty from them. The sooner you step in, the longer a history you have with them. And these students won’t be a fan for just the years they are in high school or college. Your brand will resonate with them for life.

Brand scholarships support tomorrow's leaders

Brands are not limited to academic scholarships to inspire the next generation’s leaders. Taco Bell, for example, found a way to connect with its young customers, ages 16-24, and inspire the next generation of innovators, creators and dreamers through its Live Más Scholarship. In 2018, the Taco Bell Foundation awarded $3 million in scholarships. One of the recipients wants to be a politician, so she can effect change and bring hope to people.  In 2019, the Taco Bell Foundation awarded $4.5 million worth of scholarships to 531 students. In 2021, the Taco Bell Foundation will be awarding more than $7 million in Live Más Scholarships.

Brand scholarships provide you with another avenue to recruit talent 

Think about it. When you sponsor scholarships for college students, you are leaving a favourable impression on them as they are getting themselves ready to launch their career. It’s the perfect time to position your company as one that cares about education and developing the next generation of employees and executives, capable of leading the company to future successes. You will come across as an attractive employment option for both internships and jobs. Scholarships for high school students will pay off as well, whether they are considering employment right after high school or after college.

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Brand scholarships help you achieve your purpose

No matter what your purpose or cause is, brand scholarships can be tailored to help you achieve it. As an example, Hyundai Motor America, awards five $10,000 scholarships to female students to encourage them to pursue STEM education. MacKenzie-Childs awards four $5,000 scholarships to Black students to encourage them to pursue their dreams and develop their abilities in the fields of design and the applied arts.

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Brand scholarships are proven as a marketing strategy 

You don’t have to be a big brand, or have a huge scholarship fund, to sponsor scholarships. But the fact that major brands like Coca Cola, Staples, Dr. Pepper, JP Morgan and Hulu sponsor scholarships should tell you something. Brand scholarships earn you not just brand recognition, but also goodwill — and you can’t put a price on goodwill

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