A scholarship is a financial award given to a student to support their education. It is typically based on academic achievement, talent, financial need, or other criteria set by the donor. Scholarships help cover educational expenses such as tuition, books, room, and board, and unlike loans, they do not need to be repaid.
Types of Scholarships
- Merit-based scholarships for academic, athletic, or artistic excellence.
- Need-based scholarships for students with financial need.
- Scholarships based on personal circumstances, interests, or specific fields of study.
- Company or industry scholarships that may also offer job opportunities.
Purpose and Use
Scholarships are awarded to reduce the cost burden of education and promote access and equity. They can cover full or partial costs and often require maintaining certain academic or activity standards.
Who Offers Scholarships
Educational institutions, government bodies, private organizations, companies, and philanthropic donors all provide scholarships for various purposes.