Everyone wants a scholarship, but what does earning a scholarship actually require? We're going to explore that and more in this comprehensive guide to scholarships to help you get the aid you deserve.
What exactly do scholarships cover?
Scholarships are designed to cover your basic costs of studying. Depending on the type of scholarships you are awarded, varying amounts of your studies will be covered. Scholarships are designed to cover your tuition, books, student fees, and in some cases, even a portion of your living costs while studying.
What can scholarship money be used for?
Scholarship money can be spent on anything, but it’s usually wise to limit your spending to tuition, books, living expenses, and sometimes food.
Scholarship money often comes with stipulations from the donor. Most organizations consider it as an educational investment rather than simply a gift. For that reason, college scholarships usually have strings attached. It’s common for scholarships to require a certain grade point average throughout your studies or for a certain performance level to be maintained for you to continue receiving financial aid.
When is scholarship money awarded?
Scholarship money is most commonly paid out in a lump sum before the start of the semester, but can also be distributed in installments throughout the year. Scholarships are either paid to the student or to the school bursars office directly. Each school or organization has their own procedures for when scholarship money will be awarded.
Where do scholarships come from?
Scholarships can come from many sources and usually you’re eligible to receive more than one form of aid. Check the guidelines for each scholarship to see what you qualify for. There are several different sources for scholarships funding such as:
- Private donors
Whichever type of scholarship you decide to apply for, remember to be patient and persistent! Scholarships are an excellent way to help you achieve your educational dreams. Read more about how to find scholarships and grants.