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Types of college scholarships and grants students can consider opting for

February 08,2011 by: Dallas Browne

With the educational expenses rising all the time, students as well as parents are always on the look out for availing financial aid to complete their studies. The most common types of financial aid available for them are loans, grants and scholarships. The federally governed scholarships and grants are the best since these grants have flexible terms and conditions and do not require students to pay back the grant amount. There are also options in which a student gets to earn his tuition fees by working in various programs of the university.

There are different types of college scholarships and grants available to students at different levels. Some of them are-

Academic scholarships- Almost all colleges and universities offer this type of scholarship grants. The grants are made available to students with excellent academic record. Students with minimum GPA of 3.5 qualify for these grants. No application is to be made; the university itself selects the students on the basis of their academic performance. The grants are either in the form of reduction in the college or tuition fees or sometimes need based students with very promising careers get their University fees absolved.

Entrance scholarships- The criteria for entrance scholarships vary from university to university. The candidate for the scholarship is chosen by the grades that they secure at the entry level. This is given in terms of reduction in the tuition fees etc. The amount of scholarship is decided by the past academic history of the candidate. The better the academic performance greater will be the amount of scholarships.

Merit scholarships- These scholarships are granted by the different universities and colleges. The eligibility criteria for these are varied. Some scholarships are academic based; some are based on other co curricular skills and other skills of the candidate. There are scholarships that can be availed by good sportsmen also. Depending upon the merit of the candidate the scholarship amount might either pay a part of the tuition fees or make the total education expenses of an individual free.

There are a large number of monetary awards that private firms and individuals also donate. These donations are made through the different universities and colleges.

International scholarships – The students who migrate to other countries to pursue their higher education can also avail scholarships. These grants are mainly based on the academic performance of the students. 

Military Scholarships- The militaries are a well-known basis of college scholarships. The ROTC program by the countries Air Force has the capacity to pay up to full college tuition fees, plus an additional stipend for books. Students who qualify for military scholarships are to make a compulsory tour of duty with the branch of the military that supports the education of the candidate. The candidate has to make sure that he fulfils the terms of the scholarship agreement as set by the military. These types of loans are therefore best suited for people who have a desire to join the military after completing their education.

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