What's Happening?
A recent report by the marketing agency Fractl, on behalf of Sallie Mae, reveals that Gen Z students are increasingly using TikTok to find college scholarships. The survey, which included 274 undergraduates, found that 68% of Gen Z students occasionally
use TikTok for scholarship searches, with 20% doing so weekly. While 60% of these students reported discovering new scholarships through TikTok, 9% successfully secured at least one scholarship. However, the platform also exposes students to scams and misinformation, with about a third encountering misleading content. First-generation students were notably more successful in finding scholarships on TikTok compared to their peers.
Why It's Important?
The trend of using TikTok for scholarship searches highlights the platform's growing influence beyond entertainment, particularly among Gen Z. This shift underscores the need for reliable information as students navigate financial aid options. The report indicates that TikTok can be a valuable tool for discovering niche scholarships, especially for first-generation students who may lack traditional guidance. However, the prevalence of misinformation poses risks, potentially leading students to waste time or fall victim to scams. This situation calls for increased efforts from colleges and scholarship providers to ensure accurate information is accessible on platforms where students are active.
What's Next?
To address the challenges posed by misinformation on TikTok, educational institutions and scholarship providers are encouraged to enhance their presence on the platform. By providing verified information and resources, they can help students discern credible opportunities from scams. Additionally, students are advised to cross-check any scholarship information found on TikTok with trusted sources such as college financial aid offices or reputable scholarship databases. This proactive approach aims to safeguard students from misinformation while leveraging TikTok's reach to connect them with legitimate scholarship opportunities.
