Leadership scholarships often offer a lot more than just financial support. Many also come with access to leadership training programs, mentorship opportunities, and networking events.
Juno leverages its borrowers’ collective buying power to negotiate lower rates for private student loans. Students and parents can join for free to see how they can save.
1. It’s a chance to be recognized.
Leadership scholarships recognize the difference that aspiring leaders can make in their communities and aim to nurture their potential. Scholarship committees typically evaluate a variety of factors, including the applicant’s experience and achievements in a particular field of study and extracurricular activities. When preparing for an application, applicants can improve their chances of success by crafting a personal statement that highlights their experiences and aspirations and seeking feedback from others.
Juno (formerly LeverEdge) is an MBA student-founded company that leverages collective buying power to negotiate better terms for private student loans. The platform is used by more than 100,000 students and their parents, allowing them to save thousands in interest and fees each year.
The company’s approach to lending has earned Juno numerous accolades, including the prestigious Forbes 30 Under 30 award in 2018. However, the company has also faced criticism for its approach to lending and its focus on millennials. In addition to leveraging student loan data, Juno’s business model is based on evaluating the borrower’s creditworthiness and a history of repayments. Despite these criticisms, Juno has committed to improving its lending practices.
While the Juno scholarship is a great opportunity for aspiring leaders, it is important to remember that not everyone will receive this type of financial support. Leadership scholarships are often need-based, taking into account a student’s family income and other financial factors when awarding the scholarship. Students from low-income families are less likely to graduate college and are more likely to be unemployed or underemployed than their peers, making need-based leadership scholarships all the more important.
Empowered found that Juno could improve its scholarship process by increasing transparency around how it evaluates candidates. It also recommended that Juno clarify its definition of “underrepresented” by addressing the fact that some groups are not included, such as Black and Indigenous people, provide training on mental health to staff/faculty, and implement accessibility policies and processes. These changes would help ensure that all aspiring leaders are given the opportunity to apply their skills in a safe, inclusive environment. They will be more likely to thrive and have an impact that is long-lasting and societally significant.
2. It’s a chance to learn.
Juno is a group student loan company that helps students save money by negotiating lower interest rates on their behalf. The more borrowers sign up, the more leverage Juno has to negotiate discounted rates. They collect members’ information, including their estimated credit scores and income, expected educational costs, and the type of loan they need (undergraduate or graduate). Juno groups borrowers together based on these factors, and then asks lenders to compete for their business in a bidding process. The lowest bid is then offered to the borrower.
As a result of their collective bargaining approach, Juno has saved students and professionals millions in interest on their student loans. The company is also using its influence to change the way students think about loans.
Those who win the Juno scholarship will have access to additional resources and opportunities that help cultivate their leadership skills and expand their professional networks. This is a great opportunity for aspiring leaders to become part of a community of like-minded individuals who are committed to making a positive impact in the world.
For example, the program offers students access to a mentorship initiative that pairs them with alumni from Juno’s partner organizations. Mentors are available to provide advice, guidance and support throughout the course. They can also connect students with potential employers, which can be very helpful when trying to find a job after the bootcamp is completed.
In addition, the program supports students with disabilities by providing accommodations for some of the course’s assignments. This can be a crucial aspect of successful learning, and it is great to see that Juno is recognizing the need for this kind of support in their bootcamp.
The Juno Scholarship is one of many ways that Juno College of Technology aims to make coding education accessible and affordable. The school is currently offering a 40% discount on its web development courses through the Canada-Ontario Job Grant. This grant can be used to pay for full- or part-time programs, and requires the employer to cover one-sixth of the tuition cost. Find out more about Juno’s Coding Bootcamp here.
3. It’s a chance to grow.
Leadership scholarships often include access to mentoring programs and other resources that can help you develop as a leader, both during your scholarship years and beyond. These can include workshops and training sessions, leadership conferences, or opportunities to work with local community organizations on projects that address pressing issues in the area. These experiences can help you build your skills, grow your network, and gain a deeper understanding of the challenges that come with leadership positions.
When applying for leadership scholarships, it’s important to consider the criteria that the scholarship committee will use to evaluate your application. Some will prioritize applicants who have demonstrated leadership experience through participation in student government or community service, while others may give preference to students who are first in their families to attend college. In addition, it’s helpful to choose recommenders who can vouch for your leadership abilities and character.
Juno (formerly Lever’s Edge) is a student loan refinance company that uses collective bargaining to get members the lowest rates possible. They launched in 2018 after founders Nikhil Agarwal and Chris Abkarians were admitted to Harvard but faced the dreaded tuition bill. Instead of taking expensive loans, they rallied 700 students from 10 schools together and negotiated lower rates for the entire group, saving them each $15K. They knew they had to make this benefit available to everyone.
Today, Juno offers students a free membership that provides them with access to a wealth of resources and 1-to-1 support from their team. They also offer a monthly no-essay scholarship that anyone can enter.
When we asked Juno’s students and alumni what they wanted to see more of from the company, diversity was one of the top themes that emerged. Students/alumni and staff/faculty alike agreed that Juno should do more to remove barriers and create an environment where all students can thrive being their authentic selves. In addition, we heard from many people that it would be useful to see more information about how Juno supports mental health and wellbeing. This is something that Juno is committed to continuing to grow and improve on as part of their mission.
4. It’s a chance to make a difference.
Juno’s founders were inspired to start their company because they wanted to use collective bargaining power to give students more leverage in the lending process. They created a platform where groups of borrowers would join together to buy loans from lenders—similar to how companies buy laptops in bulk for discounts. When a student pooled together with fellow graduates and classmates, they could get a much better rate than what one borrower would be able to get on their own.
The group-based approach is a unique business model that can be applied to other financial products. For instance, Credible is a similar marketplace where users can compare rates for private student loans and refinances. However, unlike Juno, Credible isn’t a direct lender—it provides an estimate of what your loan might look like by matching you with different lenders based on your credit profile.
Similarly, Juno can negotiate for lower interest rates because they have a large group of borrowers to represent them and they’ve proven that their model works. In fact, they’ve saved borrowers millions of dollars and have negotiated over $800 million in student loans.
As an aspiring leader, you want to do more than just make money or climb the corporate ladder; you’re also committed to making a positive impact on society. Whether it’s through activism, community service, or fundraising for causes you care about, you’re a leader who takes action and strives to improve the lives of others. This is why the Juno Scholarship matters: it’s a chance to be recognized for your commitment to leadership and make an even bigger impact.
Juno has a strong commitment to diversity, equity, and inclusion in the workplace. In a recent Empowered survey, they found that 90% of their students/alumni and 97% of their staff/faculty believe that Juno values diversity. They are working hard to ensure that Juno offers opportunities for everyone and is a place where people can be their true selves.
To learn more about how you can apply to the Juno Scholarship, visit their website here. Remember to check all eligibility requirements before applying, and ask for a recommendation from someone who can speak to your dedication to leadership. And don’t forget to submit your application before the deadline!