What are Scholarships?
Scholarships (also known as grants or gift aid) are forms of Financial Aid that generally do not need not be repaid.
Scholarships are offered by many organizations, including government, businesses, and nonprofits. They may be based on academics, achievements, hobbies, talents, organizational affiliations, and career aspirations.
Scholarships can be awarded based on academic performance, financial need, religious affiliation, minority status, heritage, community affiliations, or a unique set of criteria that are important to the organization providing funds. Here are a few examples:
- Your high school or prospective college may award scholarships based on academic performance
- Ethnic organizations often provide scholarships to outstanding students sharing their respective ethnic backgrounds
- Many companies offer scholarships to children of their employees
- Some houses of worship and religious denominations offer scholarships for students planning a career in the clergy
Some organizations sponsor scholarships to attract students to a field of study facing a worker shortage, or to encourage non-traditional or minority students to work toward a specific degree.
When searching for scholarships, cast a wide net. Consult your local library, area businesses, civic and community organizations, and your high school counselor or college Financial Aid office.
Your scholarship search can be successful if you start early, stay focused and organized, and search diligently.
