Five Different Types of Scholarships
In an era of rising educational costs, and tougher competition for a scholarship, it may be useful to find out first what type of financial assistance you could qualify for at a higher educational institute.
Few people realize that every year thousands of scholarships are withdrawn because of the lack of applicants. Perhaps there is a knowledge gap understanding what are the different kinds of awards you can qualify for.
What are the five different types of scholarships?
1. Merit- based
The most common of rewards which are based on a persons academic performance. Thousands of educational institutions offer this type of reward for achieving a top score in IELTS, SAT or another recognized examination or test.
2. Need Based
In an age of austerity hundreds of these types of scholarships are being cut, or replaced with a long term loan program. Financial assistance for those who are deemed deserving of continuing their education on a higher level, usually has helped thousands of poorer students internationally have the chance of a college education.
3. Full or Partial Rewards
The majority of people often believe that a scholarship usually covers all costs, that include accommodation, books, tuition fees and other costs. But for the rare few that actually get a full scholarship usually only tuition fees, and books are covered. The most common award is the partial scholarship which may cover some of the tuition fees, and books with perhaps a small accommodation allowance.
4. School based
A good school should offer some chance of a scholarship with a link with a higher educational institute. Usually this is merit driven, and focuses on allowing students who have achieved high grades academically, the chance to study at university, if they come from an underprivileged background.
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