Are you about to apply for a scholarship and wondering what it means? Well! You have got it now.
A scholarship is a type of grant-in-aid given to students to help them further their studies. Basically, scholarships are provided based on factors such as academic performance, diversity and inclusion, athletic ability, and financial needs.
While a scholarship beneficiary is not required to pay back the scholarship money, also known as grants, he or she must meet specific requirements during their period of support, such as maintaining a minimum grade point average or participating in a certain activity (e.g., playing on a school sports team for athletic scholarship holders).
There are several types of scholarships, and they vary in their generosity as well; some scholarships cover partial tuition, while others cover all tuition, accommodation, housing, and other costs.
The most prestigious and highly competitive scholarships in the United States and the UK include the Fulbright Scholarship and the Rhodes Awards at the graduate level and the Robertson, Morehead-Cain, and Jefferson Scholarships at the undergraduate level.
As mentioned earlier, these scholarships are highly competitive but not impossible to get. Read on for more on how to get a scholarship here.
How Do Scholarships Work?
Another aspect that arouses curiosity among students is how scholarships work. The way scholarships work is interesting, and it goes like this!
Thousands of brilliant students around the world need support to further their studies. Some of these students want to study in the United States or other countries that offer quality education. But, they do not have the required means or funds to realize these dreams.
Luckily, institutions, such as governments, private organizations, companies, trusts, and universities, provide these funds to help students who cannot pursue their studies without funding. Students apply for these scholarships and are awarded based on meeting certain criteria.
The scholarship can sometimes come as a one-time payment. At the same time, other scholarships are renewable and provide students with a certain amount of money every academic semester or session.
Interestingly, you don’t have to pay back grants or scholarship monies that you received. You only just have to continue meeting the requirements during the period of enjoying the award.
And, when you get a scholarship award, remember that you may receive the funds directly into your bank account. Sometimes, the scholarship money is paid directly to your college to pay for your tuition, room and board, and other costs.
So that’s how it works! Let’s find out how to get a scholarship.
How to get a Scholarship?
Having understood what does scholarship mean and how it works, you may want to find out how to get one. Learn how to get a scholarship by following our tips below.
First, start by checking the university’s official website of your choice. Many universities in the United States offer several scholarships to freshers and returning students, which you will find on their scholarship website.
Finally, another way to get a scholarship is to research the country where your preferred college or university is located. You will discover that a country like the USA offers various scholarships to assist domestic and international students.