Scholorships

Scholarships are financial aids that can significantly reduce or even cover the entire cost of college education. They are often merit-based, requiring certain academic achievements or talents. However, need-based scholarships are also available for students from low-income families.

Merit- Based Scholarships

Need- Based Scholarships

Merit-based scholarships are financial awards given to students based on their individual achievements. Unlike need-based scholarships, which are awarded based on financial need, merit-based scholarships reward students for their accomplishments. These accomplishments can be academic, such as high grades or test scores, or they can be related to a special talent or extracurricular involvement. Here are some key points about merit-based scholarships:

They reward students’ individual achievements.
They are not based on financial need.
They can be awarded for academic excellence.
They can also be awarded for special talents or extracurricular involvement.
They encourage students to strive for excellence in their chosen fields.

Merit-based scholarships can significantly reduce the financial burden of higher education, allowing students to focus more on their studies and less on financial concerns. They also serve as recognition of students’ hard work and dedication in their academic or extracurricular pursuits.

Examples:

Jack Kent Cooke Scholarship: This scholarship is awarded to high-achieving students. It’s a highly competitive scholarship that rewards excellence by supporting high-achieving students with financial need.
Robertson Scholarship: This scholarship is awarded to students who demonstrate both academic and personal achievements. It’s a merit-based scholarship that seeks to attract future leaders who demonstrate a commitment to serving the greater good.
Rhodes Scholarship, Churchill Scholarship, Marshall Scholarship, and Harry S. Truman Scholarship: These prestigious scholarships are awarded to students who demonstrate exceptional academic achievements.

Need-based scholarships are financial awards that are given to students based on their financial need rather than their academic achievements or talents. These scholarships aim to provide opportunities for students who may not have the financial means to pay for their education. Here are some key points about need-based scholarships:

They are awarded based on a student’s financial need.
They aim to provide educational opportunities for financially disadvantaged students.
They can make higher education accessible and affordable.
They require proof of financial need, usually through documents like tax returns.
They can cover partial or full tuition, depending on the student’s need and the scholarship amount.

Need-based scholarships can open doors for students who might otherwise be unable to afford higher education. They level the playing field, ensuring that every student has a chance to succeed, regardless of their financial situation.

Examples:

The Gates Scholarship: Funded by the Bill and Melinda Gates Foundation, this scholarship covers the cost of education after Federal grants are awarded for 300 eligible students each year.
The Young Scholars Program: This pre-college scholarship by the Jack Kent Cooke Foundation is awarded to high-performing seventh-grade students demonstrating financial need.
The Greenhouse Scholar Program: This program provides need-based funds to high school seniors attending four-year colleges. Applicants must have a GPA of 3.5 or above and an annual household income less than $70,000.