Loran Scholarships: What You Should Know About It

Loran Scholarships are great opportunities for students in all fields to attend college without having to worry about tuition costs. These scholarships were created by Loran Foundation in response to the growing need for highly-skilled workers in these fields.

They provide a full scholarship covering tuition, books, and fees if you have a proven track record of exceptional academic achievement and leadership skills that would be beneficial to their company.

Loran Scholarship History

Loran scholarships date back to 1988, known as the Loran Scholars Foundation. It is a charitable organization in Canada that awards students who want to further their studies at the University of Canada.

Students who get selected for the Loran scholarship receive the largest undergraduate merit award in the country. The award was based on character, leadership potential, academic performance, and commitment to service.

It was the first organization in Canada to award undergraduates for their excellent academic performance, interest in extracurricular activities, and leadership potential.

The Loran Scholars Foundation saw a gap in the system of merit-based financial assistance to Canadian university students. For this reason, the foundation was founded.

They gave assistance to students, which were divided into two groups. The first is given to students who have excellent and outstanding performance in their academics through university scholarship programs.

The second was given to students who have exceptional abilities, like in athletics, through their national team programs. Just a small percentage of the scholarship fund is given to those with leadership qualities and other talents that will make a positive impact on society and the nation at large.

The Loran Scholar Foundation was founded by Dr. Robert Cluett, who believes that “breadth, openness to challenge, and willingness to take risk are many times more important than any quantitative measure of promise.” The foundation still holds on to this belief today.

Today, there are a variety of loan scholarship programs, each with its own eligibility requirements and benefits.

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Eligibility Criteria for the Loran Scholarships

Loran Scholarships: What You Should Know About It

The Loran Scholarship eligibility criteria are divided into two categories: high school and CEGEP.

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Eligibility Criteria for the Loran Scholarships for High School Students

  1. Applicants must be entering university for the first time in September 2023.
  2. Applicants should have a result of 85% minimum cumulative average.
  3. Applicants must be either citizens of Canada or have a Canadian permanent resident permit.
  4. Applicants must be born between January 1, 2001, and September 1, 2007.

Eligibility Criteria for the Loran Scholarships Cegep students

  • Applicants must be in their last year of Cegep before pursuing a university degree.
  • Present an R score which should be higher or equal to 29.
  • Applicants must be either citizens of Canada or have a Canadian permanent resident permit.
  • Applicants must be born between January 1, 2001, and September 1, 2007.

Loran Scholarships Selection Process

Once the deadline for the submission of forms has reached, the awards committee starts reviewing the applications of all candidates. They select those who pass all the criteria and shortlist them.

Once you’ve been selected as one of the shortlisted candidates, you will be asked to send in supplemental videos. Out of the 500 shortlisted candidates, only 250 will be invited for the online interview.

Through this interview, candidates who will be awarded the scholarship fund will be selected, and those who don’t pass will still be given a provincial and territorial grant of $2,000.

Loran Scholarships Coverage

Loran Scholar Foundation offers the selected candidates a scholarship award with a total value of $100,000, which is renewable for your four years of study. The Loran award includes;

$10,000 for an annual living stipend.

  • Up to $10,000 for a tuition fee waiver which is offered every year from any of their 25 partner universities.
  • Selected candidates will get a personal mentor from a Canadian leader.
  • up to $14,000 to fund the selected candidate’s experiential learning through work experience in three different sectors.
  • Yearly gatherings of scholars and retreats
  • Giving the students an orientation through Algonquin Park.
  • A lifelong profitable network that consists of people with values.
  • Up to 120 finalists who are not selected for the Loran Scholarships get provincial awards.
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Loran Scholarships: What You Should Know About It

Deadline of the Loran Scholarships

Loran Scholarships application is open every year in September/October. Once you are shortlisted, the award committee will notify you at least one week before the semi-final interview takes place. When planning to apply for the Loran Scholarships, you are advised to submit your application before the initial deadline.

Tips for Getting the Loran Scholarship

There are a few things you should know before applying for the Loran Scholarship.

  • To begin, go to the scholarship website and sign up for their mailing list. You will be notified if any new scholarship opportunities become available.
  • Second, you must compile a portfolio of your academic and extracurricular activities. This will demonstrate to the scholarship committee how involved you are in your community and school.
  • Third, remember to tell your story! Why do you deserve this scholarship? What distinguishes you? When applying for scholarships, it is critical to paint a picture of yourself.
  • You must also submit all required documents, including those listed as optional. This is because that optional document could give you an advantage over other applicants who felt it was unnecessary to include it.
  • Finally, double-check all required documents to avoid errors or omissions when submitting your scholarship application. You must submit an error-free application before the application deadline.

Advantages of Winning the Scholarship

Here are some of the advantages of winning the Louise McKinney Scholarship:

  • Financial aid opportunities: Loran scholarship gives you financial aid so you can further your studies.
  • On-campus recognition: Receiving a scholarship from a prestigious organization, such as the Loran Scholarship, can give you an advantage when applying to your dream school.
  • Networking opportunities: participating in campus organizations and attending events hosted by the scholarship recipient network can help you find future jobs or graduate school admissions.
  • Leadership abilities: The ability to lead and collaborate with other students toward a common goal is a valuable skill that you will use throughout your life.
  • So, whether you want financial stability or a strong resume boost, the Loran Scholarship is well worth considering.
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How to Apply

Loran Scholarships are one of the most popular types of financial aid available. They offer scholarships to students who demonstrate academic excellence and financial need.

To apply for a Loran Scholarship, you will first need to determine your eligibility. Eligibility can vary based on the scholarship you are applying for, so make sure to research the specific requirements.

Once you are eligible, you will need to fill out an application. The application will require information about your academic history, your current level of education, financial need, and other relevant information.

Finally, you will need to submit all of your application materials to the scholarship provider.

Note: Loran Scholarships are one of the most popular types of financial aid available, so be sure to research eligibility and application requirements before submitting your paperwork.

To know more about the Loran Scholarship, visit their official website HERE.

What to do if you are not chosen for the Loran Scholarship

Because of the limited number of candidates to be awarded and many students applying for this award, some students will not be chosen. If you are one of them, don’t worry, there is something for you.

You can also apply for other scholarship programs listed as “Read Also.”

If you are really interested in the Loran Scholarship, you could apply again next year and make sure you meet the deadline and provide all of the required documents.

Conclusion

Loran Scholarships are a great way to help students with financial needs attend college. They offer scholarships to students who want to study specific areas of study, such as engineering or the sciences.

You can find out more about Loran Scholarships by visiting their website or by speaking to an admissions counselor at your chosen school. Students who are accepted into a Loran Scholarship program have the opportunity to receive up to $40,000 per year in tuition assistance.

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