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A scholarship is defined as a grant or payment made to support a student's education, awarded on the basis of academic or other distinction. [1] ". Scholarship" has a different meaning in the United States than it does in other countries, with the partial exception of Canada. Outside the U.S., scholarship is any type of monetary award to fund ...
Scholarships may have a financial need component, but rely on other criteria as well. Some private need-based awards are confusingly called scholarships, and require the results of a FAFSA (the family's EFC). However, scholarships are often merit-based, while grants tend to be need-based. Some examples of grants commonly applied for in the U.S.:
The National Merit Scholarship Program is a United States academic scholarship competition for recognition and university scholarships. The program is managed by the National Merit Scholarship Corporation (NMSC), a privately funded not-for-profit organization based in Evanston, Illinois . [ 1 ]
Two Types of Merit-Based Scholarships Merit-based scholarships differ from needs-based scholarships in that anyone can apply for one, regardless of financial status. Financial hardship can enter ...
Need-blind schools tend to be selective, due to the large number of applications they receive. Each institution has its own definition of meeting the full demonstrated need. Some schools meet this need through grants and/or merit or talent scholarships alone, while others may include loans and work-study programs.
National Merit Scholarship Program. This program awards $2,500 scholarships to over 7,000 individuals based on their Preliminary SAT/National Merit Scholarship Qualifying Test scores. Special ...