Asking for money is exactly what you will have to do when writing a financial needs essay. This type of essay is usually required when students apply for a scholarships to get money for education.

Definitely, applying for scholarships is a very good idea.

The biggest advantage of scholarships is that you receive money but do not have to pay anything back like with loans, for instance.

Writing financial need essays can be a part of the application process. What is more, it is your chance to explain why you need money logically and reasonably. Thus, if you do not have reasonable explanations yet, let help you prepare your financial need essay.

Mistakes to Avoid When Writing Financial Need Essays

There are several big mistakes that students can make in scholarship essays:

  • Whining. Do not write about your own financial needs, about how poor you are and how hard you have to work to support your old parents or a disabled sibling.
  • Yes, this can happen to everyone, but a good financial needs essay is not the right place to whine about such difficulties. On the contrary, show that you have learned to overcome difficulties and this made you stronger.
  • Writing general essays. Most likely, you will write several financial need essays to apply for a number of financing opportunities. It is OK, but you have to write a unique financial needs essay for each program. Do not make a general essay, which simply has different names of sponsoring organizations.

Things to Include into Financial Need Essays

  • Explain why you need this specific education that you are asking money for.
  • Think how to explain why you or your parents cannot afford to pay for your education.
  • Learn more about sponsoring organizations and think how to include this info into your essay.

Here, you can read about other secrets of scholarship essay writing.

We hope that this short, but comprehensive guide will get your essay going! Good luck and be sure to check out or blog for more writing tips.

Further reading:

✏️  Financial Needs Essay FAQ

There is no universal way to justify why you need money. Every situation is unique. Every person might have their life circumstances. Typically, students apply for scholarships because they can’t work full-time yet. Thus, they cannot afford the desired program.
Two key strategies to ask for scholarship money are those below.
  1. Write an impressive motivation letter mentioning your tight budget,
  2. Write an application letter describing your tough life circumstances (especially if you have incomplete family, etc.).
For additional details, check examples of such papers online and in books.
Applying for a scholarship implies proving why you deserve this assistance. Demonstrate your strong motivation, your real passion for learning, describe your educational background. If you want to be chosen for the program, take a look at examples and templates available online. You need to highlight your strengths and motivation.
It’s probably a bad idea to begin with the statement of financial need itself. Instead, demonstrate your strong motivation and even passion first. Briefly describe your background and highlight relevant educational and work experience. Acknowledge that financial assistance would help you to develop further.