by Phase 2 scholar » Tue Jan 03, 2023 11:28 am
Obviously too late for you, but I'll still respond for others considering declining the award.
I accepted the award, and it has worked out really well for me. (Though in hindsight, it was really risky taking the scholarship as a PhD student, and I should have not done so. I was at the mercy of the program to extend my Phase I time-frame so I could complete my degree.)
Some reasons to decline:
1. Uncertainty on completion date (especially an issue for PhD students)
2. Lack of confidence in sponsoring facility. No all sponsoring facilities have great employee retention rates. If you come in with a SMART scholarship, you might find yourself trapped somewhere where you don't like working. (The longer your work commitment, the bigger risk you are taking here.)
3. Already have significant scholarships. Accepting the SMART scholarship comes with some risk. If you don't finish your degree in time or your GPA falls below acceptable levels, you could find yourself repaying the SMART program. While it's better than a loan, for many who already have scholarships, the risks outweigh the benefits. Many former scholars currently buried in repayment debt regret accepting the SMART scholarship
.
4. Better employment prospects elsewhere. Government positions have really solid benefits, but often the private sector tends to pay better. And accepting a SMART scholarship puts you in a poor negotiating position for salary when entering Phase II (though you still can try)
Obviously too late for you, but I'll still respond for others considering declining the award.
I accepted the award, and it has worked out really well for me. (Though in hindsight, it was really risky taking the scholarship as a PhD student, and I should have not done so. I was at the mercy of the program to extend my Phase I time-frame so I could complete my degree.)
Some reasons to decline:
1. Uncertainty on completion date (especially an issue for PhD students)
2. Lack of confidence in sponsoring facility. No all sponsoring facilities have great employee retention rates. If you come in with a SMART scholarship, you might find yourself trapped somewhere where you don't like working. (The longer your work commitment, the bigger risk you are taking here.)
3. Already have significant scholarships. Accepting the SMART scholarship comes with some risk. If you don't finish your degree in time or your GPA falls below acceptable levels, you could find yourself repaying the SMART program. While it's better than a loan, for many who already have scholarships, the risks outweigh the benefits. Many former scholars currently buried in repayment debt regret accepting the SMART scholarship
.
4. Better employment prospects elsewhere. Government positions have really solid benefits, but often the private sector tends to pay better. And accepting a SMART scholarship puts you in a poor negotiating position for salary when entering Phase II (though you still can try)