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Types of Scholarships

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Scholarships are payment plans or grant that supports student’s education. Scholarships are issued based on need or merit. Scholarships are different, one may get a one-time check to cover all the years’ tuition and expenses, while the other is renewable every semester. Scholarship opportunities come in different ways, as a student you just have to know what method will get you the financial aid eventually. There is a criterion that is used by institutions to determine which student should be awarded a scholarship. Scholarships are not repaid after the learning period.

Academic scholarships use GPA criteria to determine who to award a scholarship. Criteria for athletic scholarships is based on a student’s capabilities or the school teams. Merit scholarships rely on different criteria’s such as community service, club participation or excellent performance in a certain school subject. There are various types of scholarships which students can apply for.

Merit-based

To gain this scholarship, institutions will look at your service record and other extracurricular activities. For a student to bag this award they have to be actively involved in artistic, athletic and academic activities. Before a private institution or a college gives you a scholarship the look at your standardized test, high score and other academic qualifications. Merit scholarship funds are directly deposited in the college a student wishes to attend.

Need-based.

This is mostly issued from private organizations that will require a student to fill the FAFSA form to qualify for one. To get a scholarship through this your EFC should be really low but the applicant should also have high academic qualifications.

Student-specific

This type of scholarship is issued to students depending on factors such as medical history, family, religion, race or gender. Minority scholarship is common under this type of scholarship.

Career Specific

This scholarship is awarded to a student based on career field they wish to pursue. Often it is issued to people who are pursuing careers which need more help such as nursing and education, especially where this need will be extended to third world countries. To bag this type of scholarship your career needs are your guarding principles.

College-specific

These scholarships are college-specific and they offer the award to students with excellent academic qualifications who wish to join their institution. Personal achievements is another way you can get a college-specific qualification.

Athletic Scholarship

This type is awarded to students with exceptional sports skills. This means that the scholarship is extended to you so that you can represent the school or join the school’s sports team. To avoid the controversy that comes with athletic scholarships, students are urged to try their best and have a good GPA that is nothing less than 2.0.

Brand Scholarships

This is also a type of marketing strategy to help brands gain more attention from the outside world thus they offer scholarships. The brand could be supporting a cause that is beneficial to the whole community. Brand scholarships will put into consideration the creative side of the student who ends up being an asset to that brand.

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