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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.:
Take the Preliminary SAT/National Merit Scholarship Qualifying Test in the specified year of the high school program, usually the junior (11th grade) year and usually at one's own school. Students completing high school in three years or less must be in the last or next-to-last year of high school when they take the test.
Scholarships in the U.S. are awarded based upon various criteria, which usually reflect the values and purposes of the donor or founder of the award. Some scholarships for college are merit-based. Merit scholarships might be awarded based on academic achievement or on a combination of academics and a special talent, trait, or interest.
The Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) is a standardized test administered by the College Board and cosponsored by the National Merit Scholarship Corporation (NMSC) in the United States. In the 2018–2019 school year, 2.27 million high school sophomores and 1.74 million high school juniors took the PSAT. [1]
Merit aid helps lower college costs.When it comes to paying for college, merit aid is one way to close the gap between the cost of attendance and need-based financial aid. 17 Things to Know About ...
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.