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Types of college scholarships and grants

January 04,2011 by: Dallas Browne

Education has become a lot more costly than it was earlier. Students avail college scholarships and grants in order to fulfill their dreams and achieve what they aspire for. These grants are in the form of financial aids which can be utilized by the student anytime during his/her tenure education for either buying books, uniforms if any or even for paying any other expenses incurred during the term of their education period. These scholarships pave the way for the higher education ahead, if a student wants to and hence open new doors of opportunity for them. These college scholarships and grants are based on the following criteria.

 The most common college scholarships and grants may be classified as:

  • Merit-based college scholarships and grants are given to a student based upon his meritorious track record. They are based on his academic brilliance, artistic abilities and other factors. The student’s inclination as well as excellence towards co curricular activities and even community service records plays an important role in deciding the scholarship for a student. These scholarships are normally awarded these grants.
  •  Need-based scholarships are often based on the financial track record of the student’s family members and require applicants to fill out a FAFSA in order to qualify. This is mandatory if the applied scholarship is a federal one in nature. And if the nature of the college scholarships and grants is private then using your FAFSA scores a student’s financial need and is calculated by using a formula keeping in mind the expected family contribution of the student and the overall cost of attendance.
  • Student-specific college scholarships and grants are those scholarships where the students or applicants must meet the essential requirements of gender, religion, family and medical record or any other student-related facts. Minority scholarships are one of the most common awards that are available. For example, students in Canada may meet the requirements of a number of aboriginal scholarships, no matter whether they study at home or in a foreign country.
  • Career-specific college scholarships and grants are given by a college or university to only those students who are planning to study a particular branch in terms of education. For example the nursing students are in high demand both in the country as well as overseas. Hence many colleges give full scholarships to enter the field.
  • Some college scholarships and grants have a “bond” or the requirement of a bond is required. This is definitely the situation with the people associated with educational group or the medical services. Students are required to work for a stimulated amount of time for a particular employer like the Army, Navy, Marine Corps, Air Force, and Coast Guard etc.

College scholarships and grants are available from the federal government and is available with also all the well known colleges. You can always pay a visit sometime to know more about the options available and also the intricate details of the same.

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