Do I need a bank statement for scholarship applications?

I'm in the process of applying to several scholarships and one of them asked for a bank statement. This is my first time encountering such a request, so I'm a bit unsure why they need it and what exactly they look for in the bank statement. Is this a common requirement for scholarships, or should I be cautious? If anyone has experience submitting this kind of documentation, I could really use some guidance on what's expected and how much account info I should disclose.

Each scholarship organization has its own set of requirements, and while most don't ask for bank statements, some might request this information to verify your financial need.

A bank statement can be useful to demonstrate your financial circumstances, especially if the scholarship is need-based. For these kinds of scholarships, adjudicators often want a comprehensive understanding of a student's and/or their family's financial situation to ensure that the aid they provide has the maximum impact.

While this isn't a common requirement, it's not completely unheard of. Before submitting any personal documents, however, ensure that the scholarship source is legitimate. You can usually do this by researching the organization independently online or contacting them directly to verify their information.

As for providing the information, make sure you're only sharing what is absolutely necessary. Privacy is crucial when it comes to personal financial documents.

Before submitting your bank statement, you should redact sensitive information such as account numbers. It is usually not necessary for the scholarship organizations to see this level of detail; they typically are more interested in the account balance and transaction history.

Always remember to use a secure method to submit these details and directly ask the scholarship provider how your information will be kept secure. They should have strong privacy policies in place to protect your data.

Although providing such information might feel uncomfortable, if you are confident it will not be misused and it may increase your chances of getting the scholarship, it could be worth sharing. But, always make sure you are comfortable and secure in your decision first.