First of all: Bookmark this page! You’ll want to re-read it many times in the near future.
And since you opened it, I’m going to assume that you’re at least a tiny bit interested in a scholarship that would pay you $150,000.
After all, it’s not like you haven’t thought about this topic before. If you’re like most people, you’ve watched contestants on TV game shows like “Deal or No Deal” or “Who Wants to be a Millionaire?” and yelled at them to “Stop!” and “Take the money, you fool!” once they get up into that $150,000 range — sometimes even before that. We’ve all done this, because we know that $150,000 is life-changing money.
So why haven’t you applied for any of the $150,000 scholarships out there? Probably because you didn’t know they were there. So is there really a scholarship that’ll pay you $150,000? Of course. In fact, there isn’t just one, but hundreds of them. Thousands, even. But if you’re one of those game-show people who thinks $150,000 isn’t worth your trouble, then go ahead and close up this email and read no further.
Great, you’re still here. You won’t find these awards by Googling “$150,000 scholarship” or anything like that. Your path to $150,000 actually just starts with a more modest $5,000 in scholarship money. Let’s start with this example, shall we? It can be several scholarships adding up to $5,000, or one big $5,000 scholarship. That’s bigger than the average scholarship, probably, but there are thousands of scholarships out there that pay at least that much. This $5,000 is not a crazy, unattainable amount of scholarship money we’re talking about.
How does $5,000 in scholarship money end up paying you more than $150,000? It’s pretty simple, actually. I can explain it in two minutes, tops:
A $5,000 student loan, taken at 6.8 percent, will stick you with a monthly payment of $57.80, every month for 10 years. At the end of that 10-year period, your debt to the government is paid, and you’re done. No more loan payments after that. Now even if you get yourself a really low-paying job after college (I’m thinking schoolteacher, journalist, assistant manager at Wendy’s, etc.), that’s probably something you can easily handle, right? Right.
$5,000 in scholarship money is $5,000 you don’t have to take in student loans, right? Right. But we just established that you could handle that $57 payment every month, regardless of whether you owe it to the government or not. So let’s just say that you’re going to make that $57 payment every month anyway. But you’re not going to send the check to the government — you’re going to pay yourself. You’re going to send that measly $57 per month to your own savings or investment account. And just like before, you’re going to stop after 10 years, and never write another $57 check as long as you live. (If you want help or a recommendation on setting up this account, please just reply to this email with “advice” in the subject line.)
Fast forward to 10 years down the road from now, and we’ve got two scenarios here. In the “I got zero scholarships so I had to take the $5,000 student loan” scenario, you’ve paid your $57 per month and now you’re off the hook. You owe the government nothing…but you also have nothing to show for that $57 you paid out each month. However, in the “I got $5,000 in scholarships but decided to pay-my-damn-self the $57 each month anyway” scenario, your monthly payments have accumulated to $10,802.90 (assuming a standard yet conservative 8% return).
Not a bad start, for sure. I think we can agree that it’s better to have $10,000 than to have nothing. And by the way, my assumption here is that you graduated from college at age 25, and that you’re now 35 in this scenario, 10 years down the road.
But that’s only $10,000, not $150,000. Where does the rest come from?
Easy: it comes from compounded interest over time. Like I said in the beginning, you’re not going to contribute another dime. You’re going to forget the money is even there. And then, compound interest kicks in. Over the next 30 years, assuming that same conservative 8% return on your money, your $10,802 grows to $108,705. If you wait 35 years, it grows to $159,724.
Wow. But wait. THIS IS THE IMPORTANT PART:
And why do you have this sweet little nest egg waiting for you? Because you snagged a relatively small $5,000 in scholarship money. And instead of having to pay the government, you paid yourself. It’s that easy.
You were skeptical as you were reading this, I know. After all, if it was that easy to turn $5,000 into $150,000, then surely more people would do it. But they don’t, and the reason they don’t is because no one ever teaches them how. *But that’s what I’ve started to do over these last 12 emails — I’m starting to teach you how!* And all you’ve got to do is let me finish.
Over the last 12 days, I’ve started to show you how you can win the scholarships that mean the difference between being broke and having $150,000 in your bank account.
If you and your family would like the full story on how to win scholarships that can change your life forever — I ask you to consider buying my book called “Confessions Of A Scholarship Judge” on Amazon. It’s free if you’re a Kindle Unlimited subscriber; if not, it’s $4.99 for the digital version, $9.99 for the paper copy and $19.95 for the audiobook on Audible.
C’mon — would anyone in your own FAMILY send you updates full of good advice for your ENTIRE LIFE for just 10 bucks? If so, you have a much less screwed-up family than I have.
Start getting all the scholarships you deserve. Many of your colleagues are doing the same thing, so don’t blow it off and let them end up kicking your butt in every scholarship competition you enter from now on.
Thanks for letting me plug my book, and if you buy it, I hope you enjoy it!