Scholarhips

What are scholarships?

Scholarships are merit-based monetary gifts that can be used for college and do not have to be repaid. Scholarships are awarded by various bodies, including the state and federal governments, public and private organizations, and colleges and universities.

What is the criteria for awarding scholarships?

Traditionally, scholarships are awarded based on academic merit or some other form of achievement, such as community service or athletics. And while many scholarship programs continue to function this way, some scholarships are now awarded based on need.

Are scholarships the same as grants?

Not exactly. Scholarships tend to be merit-based whereas grants are need-based. However, since some scholarships are need-based, many institutions and organizations use the terms interchangeably.

Who is eligible for a need-based scholarship?

The criteria for need-based scholarships varies but most are designated for underprivileged or underrepresented students, including women and minorities.

How much are scholarships worth and which should I apply for?

Scholarships vary in their amounts, ranging from tens of thousands of dollars to a hundred dollars, and students are strongly advised to consider the big and small alike. The virtues of larger scholarships are obvious. What is often overlooked, however, is that the scholarships offering more modest amounts tend to be less competitive and less time-consuming to apply. And because students can receive multiple scholarships, smaller scholarships can be combined so that their total can meet or exceed that of so-called larger scholarships.

Am I eligible for a scholarship?

Yes! Remember that there are literally thousands of scholarships available -- need-based and merit-based, large and small. What this means is that nearly every student, including you, is probably eligible for some kind of scholarship. Scholarships can greatly reduce the need for loans and out-of-pocket expenses and thereby ease the financial burden of going to college. Thus, students are strongly encouraged to spend at least as much time seeking and applying for scholarships as they do seeking and applying for college.