What is a Scholarship and What Types of Scholarships Are Available?

Scholarships can cover a variety of expenses, including housing and course materials. Some even cover all or a portion of your tuition. Depending on the program, a scholarship may last just one academic year or for the entire degree course. As with all financial aid, there are conditions attached to receiving a scholarship. These conditions will usually relate to a student's Grade Point Average (GPA). If your GPA is below a certain mark, you will be unlikely to qualify for the scholarship.

Unique scholarships

There are many unique scholarships available to students looking to pursue a college degree. Some of these scholarships are awarded by organizations, and others are given out by individuals. Many scholarships are based on academic merit or leadership potential. However, there are also programs that recognize students who have overcome significant challenges. The Horatio Alger Scholarship Program, for example, seeks out children who have overcome adversity and are financially needy. Applicants can choose between four different categories, each with its own set of requirements.

Community service scholarships

There are a number of community service scholarships available to students who want to help others. These programs are sponsored by private and government organizations. The Segal Americorps Education Award, for example, provides up to $5,500 in college funds for students who commit to a term of service in the AmerCorps VISTA program. These funds can also be used to pay off existing student loans.

Government scholarships

The government offers various scholarships for students who are from economically weaker sections of the society. Most of these scholarships are fully or partially funded, and can be obtained from top universities. They also provide financial aid for the studies of international students. Some of the scholarships are merit-based, while others are merit-cum-means-based.

Music scholarships

Many scholarships exist to help students attend music school. These scholarships are awarded based on an applicant's talent, background, and instrument. Some are awarded to U.S. citizens and permanent residents; others are awarded to international students. Most of the scholarships are based on merit. Talent and financial need are also considered, but the criteria for receiving financial aid depends on the specific scholarship.

Needs-based scholarships

A need-based scholarship is a scholarship that is awarded to students with financial need. These scholarships can be obtained through many different means. Some are available through private foundations, while others are available through schools. These scholarships help students afford college and get the education they need.

Sports scholarships

Sports scholarships are forms of college, university, and private high school scholarships awarded based on a student's ability to play a specific sport. These scholarships can be valuable for students who want to continue their education after high school.