All About Scholarships
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All About Scholarships
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A scholarship is an award of financial aid for a student to further his or her education. Scholarships are awarded based upon various criteria, which usually reflect the values and purposes of the donor or founder of the award. Scholarship money is not required to be repaid.
The most common scholarships may be classified as:
Merit-based: These awards are based on a student's academic, artistic, athletic or other abilities, and often factor in an applicant's extracurricular activities and community service record.
Student-specific: These are scholarships for which applicants must initially qualify based upon gender, race, religion, family and medical history, or many other student-specific factors. Minority scholarships are the most common awards in this category.
Career-specific: These are scholarships a college or university awards to students who plan to pursue a specific field of study. Often, the most generous awards to students who pursue careers in high-need areas such as education or nursing.
College-specific: College-specific scholarships are offered by individual colleges and universities to highly qualified applicants. These scholarships, given on the basis of academic and personal achievement, usually result in either a full-ride to the college, or for a reduced rate of tuition.
Some scholarships have a "bond" requirement. Recipients may be required to work for a particular employer for a specified period of time or to work in rural or remote areas; otherwise they may be required to repay the value of the support they received from the scholarship. This is particularly the case with education and nursing scholarships for people prepared to work in rural and remote areas.
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