Hypotec Reviews All Submitted Applications | Scholarship Program

 

Hypotec reviews all submitted applications

to assure authenticity (plagiarized essays will not be considered), so please ensure your maximum effort in creating your essay.

Hypotec scholarship program

What is the American Dream to you? Working hard and being able to prosper no matter what your race, ethnicity, or sex – those are the basics of the American dream. However, is owning a home still the part of the Dream or did homeownership become more of a curse than a blessing for Americans today?

Hypotec is eager to bring the American Dream back by helping Americans choose the right home and mortgage for their budget without the stress of overwhelming monthly payments.

Do you want to restore the American Dream and create a society where every child has a loving home and hopeful community?

If so, we can help! Hypotec awards $2,000 in scholarships every year to the students who are committed to restoring the American Dream through promoting responsible mortgage financing and homeownership. Our vision is to build this future together and stop more than 933,000 yearly foreclosures in the US.

Hypotec Scholarship Information

Hypotec offers scholarship awards for students who present their well-researched and evidence-based essay which promotes Americans’ financial literacy. Specifically, promoting responsible mortgage financing and homeownership. Our mission is to reduce the “house-poor” trends in the US which not only impact your personal wealth and is a leading cause of tension in family relationships.

Application period starts on January 1, 2018. The winners will be announced no later than June 29, 2018.

Problem Statement

Statistics show that financial problems and stress caused by financial issues is the leading cause of divorces in the US and Internationally.

In the US alone, one divorce occurs approximately every 40 seconds – that’s almost 2,400 divorces per day. According to the US Census Bureau, about 50% of marriages end in divorce and the leading cause of conflict and stress in the American home are brought upon by a shortage of money.

For many Americans, their home is their single largest asset and the biggest investment of their lives. It is vital to secure this investment before it becomes an expense instead of an asset. There are number of things to consider before making the most important financial decision of your life. They are basic and work regardless of your individual situation.

In the era of credit cards and ease for getting a mortgage loan, buyers are more focused on the perceived quality of life the new home will bring and less focused on choosing a right financial product for future wealth security.

A homeowner’s mortgage will be a recurring monthly expense for anywhere between 25-35 years. Considering that most homeowners will buy their first home between ages 30-35, this monthly expense (and overall debt) will be present for the rest of their working lives.

Hypotec wants to raise awareness for making the right decisions when purchasing a home and mortgage to avoid future foreclosure and financial instability. We encourage students to come up with a viable solution to help people make a balanced decision before purchasing real estate for themselves and their families. Your essay must demonstrate understanding of the status quo in American home-buying trends, the financial practices that have led to The Housing Crisis, and what best practices should be incorporated on a personal scale.

Scholarship Awards

The winning candidates for the first, second, and third place prizes will receive scholarships in the amounts of $1,000, $600, and $400, respectively. Each winner of this essay contest will be awarded funds for covering educational expenses.

Application Deadlines

► Fall 2018 Essay due May 31, 2018

► Spring 2019 Essay due November 1, 2018

Who Can Participate

► This scholarship is offered nationwide to United States citizens and Legal Permanent Residents.

► To apply, you must be a full-time student at an accredited four-year or two-year university, community college, junior college, or graduate degree program.

► You must be at least 18 years old to participate.

How to Participate

Your essay must be between at least 800 and 1,500 words with work cited included. Please include a cover with full name, university/college name, your email address (must be school email that ends with .edu).

All essays must be submitted in Word or PDF format and emailed to scholarship@hypotec.com by 11:59PM on the application deadline date. No exceptions for late entries; one entry per person.

Tips from our judges:

► Write an evidence-based essay.

► Writing about a personal experience can give you an edge over competitors.

► Make sure your essay is original, succinct, and gives a clear, logical message with a thesis statement.

► If you think a picture or video will go well with your essay, include in the footer.

Winner Announcement

The winning applicants will be announced to the public at hypotec.com and will also be notified via email. All winners will be asked to provide proof of current enrollment.

Best of luck!

Additional Information:

We are devoted to protecting the privacy of your personal information. This includes the acquisition, storage, use, access, and disposal of all student data obtained during the application process. This data will only be used for reviewing applications and selecting winners and never for marketing or commercial purposes.

Please note that Hypotec doesn’t claim that their products are an ultimate stress relief tool. Moreover, the sole goal of this scholarship is to raise awareness about the dangers of choosing the mortgage amount or product that isn’t right for you, and not to promote Hypotec’s products.