You’ve probably heard the term scholarship thrown around a lot, but do you know what they are and how they differ? We’ll start by explaining the different types of scholarships students can apply for. Then we’ll discuss what factors affect your chances of getting a scholarship and how much money you could be awarded.
Merit-Based Scholarships
Academically accomplished pupils are given merit-based scholarships. David Woroboff, a seasoned businessman, claims that academic scholarships are another name for merit-based scholarships because they are frequently given out based on GPA, SAT/ACT scores, class position, or other academic accomplishments.
Need-Based Scholarships
Need-based scholarships are available to students who demonstrate financial need. These scholarships are not based on academic performance, but rather on the student’s ability to pay for their education. These scholarships can be granted by an individual or organization and may require the student to meet certain eligibility requirements.
Some schools have established special programs that offer need-based scholarships as part of their financial aid packages. For example, some colleges offer gap scholarships for students who fall into certain income brackets and demonstrate financial need but do not qualify for federal aid programs such as Pell grants or Stafford loans.
Athletic Scholarships
Athletic scholarships are usually awarded to students who have a high GPA and/or SAT score but don’t necessarily have to. These awards are given out based on your ability as an athlete, not your academic achievements alone. If you play a sport at a high level and want to go to college, it’s worth applying for an athletic scholarship.
Academic Program Scholarships
Students studying a specific topic can receive academic program scholarships David Woroboff. If you want to study business at an accredited university, there may be scholarships for that school.
If you’re not sure which scholarships your school offers or if it has any general scholarship programs that might apply to what you’re studying, visit their website and read through their financial aid section. Most universities have a page devoted to how students can apply for financial aid like this, making it easy for anyone who needs help with school costs.
Cultural Awareness/Multicultural Scholarships
If you are a student who has a strong record of community service and cultural awareness, there are scholarships available to help with your education costs. These scholarships may be offered by individual schools or organizations.