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What is a Scholarship?
A scholarship is an award that offers an individual(s) entrance into a learning institution. Generally, scholarships are usually granted for financial aid and/or merit in a certain area of excellence. Traditionally, each scholarship created is based and reflected on the founder/donor of the award and the criteria that an individual has to uphold, in order to receive it.
Types of Scholarships
Merit-based
Individuals receive financial aid, when they do not need any monetary influence to aid them in achieving their education. This type of scholarship is designed for students who excel in areas such as academics, athletics, and/or obtain another talent of sorts.
Financial Demand-based Individuals are in need of financial aid in order to achieve their goals in education. The scholarships granted usually pay for coverage on tuition/fees, room and board, books, etc. Traditionally, these students excel in academics and/or athletics and are well qualified. *Note: (Students must prove eligible through the Free Application for Federal Student Aid (FAFSA) to qualify.)
Athletic-based These scholarships are strictly based on an individual’s outstanding performance in a specific sport arena. Financial aid for this can be on a non-financial and/or financial need basis.
Ethnic-based These scholarships are directed towards individuals of a specific race, religion, and creed. The focus on these scholarships is to promote diversity at certain institutions.
Institutional-based These are types of scholarships that are only awarded to students who are enrolled and attending a specific college or university. *Note: (For many of these scholarship types, a certain GPA requirement is enforced.)
Examples of Renowned Scholarships
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