A scholarship is a financial assistance granted to a student on the basis of the student’s academic or extracurricular achievements, for the purpose of schooling. Scholarship money may come from governments, corporations, Individuals, universities or any organization.
In reality, there are three main sources of scholarship money:
- Government ( Federal and State)
Governments provide the largest portion of the scholarship money. Both Federal and State governments offer cash awards to qualifying college students which by no means need to be repaid. These cash gifts are commonly want-based and are designed to assist college students from low-profit households, or in dangerous backgrounds, to manage to pay for a better education.
To observe for Federal monetary resources of any kind, college students need to fill out and submit the FAFSA previous to the yearly deadline. Once your FAFSA has been submitted you may be taken into consideration for Federal scholarships, presents or mortgage applications.
Scholarship money also flows through schools. Schools offer scholarships to students. Schools offer these grants to attract the chief interesting and different understudy bodies to their grounds. College-sponsored scholarships are generally merit-based, and competition for them is high. However, there are an oversized variety of athletic scholarships promoted through universities.
Many individuals, professional organizations, foundations, religious groups, charities and companies offer private scholarships to students. Many people assume that private scholarships represent the biggest source of scholarship money, but they are actually among the smallest sources.
Providers of private grants are propelled to offer honors for some reasons. Some want to help poor students. Some need to advance their industry or organization. Some need to respect their legacy or a friend or family member. Some need to help candidates who share their religion. Some need to draw in understudies to their place of graduation. The reasons are almost unending.