| A scholarship is considered gift money from either a public or private institution to assist a
student's higher education goals. Scholarships are considered gift aid, the best kind of aid because
it doesn't have to be repaid.
 Scholarships are usually awarded for merit
rather than financial need. What a institution means by merit will be determined
in the scholarship's description. Academic achievement, athletic achievement,
and community service achievement are all forms of merit. Scholarships may also be awarded based on ethnic
background, religious affiliation, and special interests.
There are many types of scholarships available.
Athletic Scholarships
School's often try to attract top athletes to their schools with athletic
scholarships. While there aren't many full ride Scholarships are one of the main
ways colleges attract top athletes. You can receive anything from a small award
to a full ride.
Clubs and Groups
Local civic groups and organizations, like the Rotary Clubs and the Elks, offer
scholarships. Sometimes these scholarships are only available to members or the
dependents of members. Let your child know which groups you belong to so, some
of them might have scholarships.
Institutional Scholarships
Many schools provide their own institutional awards to students to attract them
to their schools. Some schools provide scholarships based on a students academic
record, extra-curricular activities, ethnic background, or religious status.
Some of these scholarships you have to apply for; others you receive
automatically when you enroll.
Merit Scholarships
These scholarships are usually awarded to students for reasons other than
financial need. A student may be given a merit scholarship for academic achievement,
athletic achievement, leadership abilities, or other reasons.
Minority Organizations
Some scholarships are given only to minorities, ethnicity, gender, race, and
religion often determine your eligibility for such awards.
Private Scholarships
Private institutions often hold competitions and award scholarship funds.
Businesses and corporations will often use scholarships as a type of
advertising. You can begin applying for private scholarships as early as your
freshman year, though most are intended for juniors and seniors.
Religious Scholarships
Some denominations sponsor scholarships for their members. These scholarships
usually are given in recognition for community and church service or financial
need.
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