History of Scholarships

The term ‘”scholarship”‘ is sometimes used to describe any financial aid given to a student that does not have to be repaid. A scholarship is given to a student because of a reason: the student has qualified for or won it by academic or athletic ability, or by agreeing to follow a particular career, or has some special ethnic or other characteristic, there are also a bunch of other miscellaneous ways to get them. Scholarships are not given for financial need alone.

There are five different main types of scholarships; Merit based, these are awarded for something the student has done well like academic or athletic. Need based, these are awarded for private needs of the student. Student specific, these are awarded for race, gender, family, etc. Career Specific, these are awarded if you promise to go into a certain career. College Specific, these are awarded if you promise to go to a certain college.