Types of Scholarships

There are two types of scholarships available to students. And it doesn’t matter if it is a true freshman, a returning student or an older student, the classes usually fall in to one of two categories – need or merit based. Need based is when your financial records are looked at and your need is determined by the board who you are applying to. Merit based is when you have outstanding academic achievements in high school or in previous college classes and you are awarded for that performance.


Need Based

Need based scholarships are still slightly based on merit, but more so on the need. For example, would the student be able to attend school if the scholarship was not given? This would represent need. Just because there is need does not guarantee a person will get a scholarship, because there is such a demand for money for people to go to school.

Having multiple students in college, a family with a small income or a single parent household are all people who could qualify for need based scholarships. In order to see if you qualify year to year, you will have to fill out financial information and apply each and every year. The process is tedious but it could earn you thousands of dollars towards tuition each semester.

Merit Based

Merit based scholarships are a little bit harder to come by. For a person out of high school for several years, you can’t depend on your ACT or SAT score to get you any money. However, if you have taken a previous class in a subject matter and excelled in it, it could qualify you for certain programs.

Choosing a specific field to study in might also earn you scholarships or even grant money. For example if you wanted to be a brain surgeon, you might get medical school scholarships from a doctor in the area who supports brain surgeons. The college you are attending will have a listing of scholarships you could apply for. The Internet is also a great source for scholarships that might be nationwide that you have never heard of. If they are free to enter, then it doesn’t hurt to take your time and apply in order to get the money. If it furthers your education with little expense to you, then your time will certainly be worth it in the long run when you apply.