Scholarships, what you need to know about them!
A scholarship is a financial aid awarded to students to pursue their education. Scholarships can be granted by the government, university and various organisations like foundations or private businesses. Scholarship amount awarded depend on the awarding institution and what it is intended for ranging from a few hundred dollars, with some covering the full cost of tuition.
A Scholarship can be a once off payment or renewable providing money to students each semester or school year. Scholarships cover educational expenses like books, tuition fees, research project or other costs incurred during studies and students do not need to repay the money. Students can receive money directly in their personal accounts or given to the student’s school in which case it may cover money owed for tuition fees, accommodation and other direct school costs then the excess money can be refunded to the student.
Since most scholarships are intended for students who desire to complete their high school education or university degrees there are two types of educational scholarships namely:
- Need-based: These scholarships allow students without enough financial resources to have the opportunity to further their education.
- Merit-based: These scholarships are awarded to students for their outstanding academic achievements therefore aims to encourage them perform better in academics.
There are other non-educational scholarships that exists including musical scholarships, sporting achievement or company scholarships available with different conditions. Some scholarships are awarded to specific groups of people for example women in science or for military families.
When you find the scholarship of your liking, checkout our article here about tips on how to win a scholarship.
Also Check Tips to writing a good CV
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