The odds of winning scholarships

You can’t directly control luck, but you can move from a game with low odds of success to a game with better odds. That seems like an obvious strategy and you probably think you already do it. The hard part is figuring out the odds of any given game, and that’s harder than it looks.

One game with low odds is gambling. One time, we had a talk to our students and asked, “What will happen if you go to the casino and play the slot machines long enough?” Almost in unison, they all yelled, “Win!”.

But if you look at a casino, the odds are against the gambler and for the casino. Yes, the casino loses money on the odd player, but over time, and after millions of gamblers walk through the door, the casino always wins.

When you have a game with good odds, you want to play it often. Like a casino, if you play enough times as the casino you eventually win because the odds are in your favour. If you’re the gambler and you play the game enough times, you eventually go bankrupt because the odds are against you.

But if the odds are in your favor and you lose the first couple of games, you might conclude that the world is against you and stop playing. In that situation, even though you’re guaranteed to win if you keep playing, you stop because you didn’t keep playing into the payoff period.

The Scholarship Payoff Period

The Scholarship Payoff Period is about 6-9 months. It’s a game where you have very high odds of success. Especially if you’re getting professionally edited essays and if you’re following a proven model. But students who get Scholarship Tunnel Vision stop playing the game because they get outcome focussed instead of process focussed.

If students understand that they’re playing a game with great odds, and that if they keep playing, they’re guaranteed success, they stay process focused and win.