The role that scholarships play in a student’s life and career

What is Scholarship?

The Webster’s dictionary of Classic English language defines scholarship as a “form of financial aid that a student receives for his further education.”
The ingredients of the scholarship is help in any kind either in direct payment to a desired institution or giving the benefit of choice to the student to carry on the course that he or she prefers to study.You can find more information about Centrophenoxine Dosage.

Are scholarships tailor-made or one size fits all?

The scholarships awarded may differ based on the criteria on which they are given. The donor or the founder of scholarship may have defined the purpose for the scholarship or the eligibility for being awarded. Scholarship money is in the form of aid and therefore it does not have to be reimbursed or paid back to the donor or the founder.

Importance of scholarship:

Scholarships are becoming more and more relevant in most countries in the western world especially the United States because of various reasons. The chief among them is that higher education is now no more every one’s cup of tea. Higher education is becoming costlier by the day and cannot be afforded by most people unless they opt to borrow from banks and other private institution in the form of federal or private student loans.

Why are scholarships awarded?

The student qualifies for the scholarship by virtue of getting the highest aggregate scores in the test or may have won in a competition or contest. The scholarship may also be awarded to groom a promising student in the field that he has ability or a talent for. Sometimes, scholarships may be founded to benefit a group of people belonging to a particular ethnicity or a community that has long been backward and needs aid to come to the forefront.

What are the types of scholarships?

There are many types of scholarships. The chief amongst them are:

The merit based scholarships:

This type of scholarship is won by the student for his excellent and commendable performance in the field of academics or sports or social service or any other co curricular or extra co curricular activities. The scholarship is mostly paid into the institution that the student studies or desires to pursue his further studies than handed over to him or her in cash.


Need based scholarship:

Even though this is increasingly being confused for government grants that are approved by FAFSA, any financial aid that may be granted to a student after the fulfillment of the conditions that are available on its website may result in awarding of a need based scholarship.


Student specific scholarship:

These scholarships are those that need the student to qualify for them based on the community or ethnicity or the religion that they belong to. One example of such scholarships are the ones that are granted by the ‘Gates Millennium Scholars Program’ in the US which awards scholarships to students who belong to African or Indian regions and who have exceptionally done well at High school and want to study further but may have no means to do it.


Career specific scholarships:

These are the scholarships that the college, institutions or the government offers to students who prefer to take up a college course in high need areas such as teaching and nursing. For example, in the United States of America, students who prefer to take up nursing as a career are given a hundred percent scholarship to study their course and especially if the student intends to study and help in a sensitive and high need zone.


Institution specific scholarship:

These scholarships are given by the institution that the student has applied to study at or is currently pursuing his course. The institution needs an application from the student in order to analyze whether there is an actual need to award any scholarship to the student.

The scholarship may also envelope a bond from the student to return a part of the scholarship or to work for a particular employer or in a particular field of social service for a set number of years.


Sports scholarships:

The scholarship that the student is awarded with in order to train himself to represent his institution at inters institutional contests or in representing his country is called sports scholarship. For example, if the student is a very good athlete and he has to train himself to participate at the state level athletic meet then he may be awarded such scholarship.


Branded scholarships:

These scholarships are awarded by corporate houses or multinational companies who award them to become popular and are also an extension of their advertising strategy. These scholarships are mostly in the form of cash and need not be purely for academic purposes.


Creative contests scholarships:

This Scholarship is awarded to the winner of a creative contest. It may be awarded in cash or in kind in the form of any financial aid that will help him to join a course of his choice.


Disabilities scholarship:

Students suffering from disabilities may also apply and win scholarships for their studies.

The scholarship may be for disability in general or for any specific disability