Scholarship is basically a financial award similar to grants and bursaries which is specifically designed to offer support to students in terms of finances through their course of studies. The student can be awarded a scholarship for a variety of different reasons and it is but in fact dependent on the kind of organization at hand awarding the scholarship. Various organizations tend to have different motives for providing this financial help.
The terms such as grant and bursary are quite often used in an interchangeable manner with scholarship which tends to confuse the general lot. However the basic concept of each of these is exactly the same. Each of the three financial terms refer to money which is awarded to you on certain merit basis that you are not required to return or pay back in any form. Just to clarify your concepts you may consider the following definitions:
- Scholarships: this is essentially money which is offered for some achievement whether it is in extracurricular context or academic performance related.
- Grant is offered for financial help, an achievement of a sort or some personal circumstance.
- Bursaries are basically offered for solely financial need.
Though these are the basic definitions but it’s better not to regard them as hard and fast rules as you will observe usage and application of these terms in a variety of funding opportunities.
A vast misconception exists amongst the masses that scholarships are limited to those who are gifted academically whereas the grants and bursaries are meant primarily for the ones in financial need and anyone with a different case will not be eligible for any of the three. This is definitely not the case in reality. There are many different funding opportunities designed specifically to broaden student access to universities. Some of the examples of such include:
Academic Excellence Scholarships:
There are countless of universities who have begun offering scholarships to students with certain kind of achievement in terms of academics such as specified grades in A levels which lead to admission in higher universities. These scholarships do not require you to score an AAA* rather some actually offer monetary help for ABB and even less. The RN to BSN online scholarships program has recently announced a five hundred dollar nursing scholarship starting from the year 2015.
As mentioned in the name the scholarship awards your musical talent and if you have any then there are institutes which will accommodate your stay at a university through scholarships for a variety of instrumental and choral scholarships. For instance the Exeter Cathedral Scholarship Programme offers about to three thousand Euros on an annual basis to sing in the Cathedral.
These scholarships are entirely based on your specific personal circumstances for instance your city and your school to your parents’ jobs and the kind of care you receive. The fact that you’re a vegetarian also counts as a different personal circumstance.
This can be classified as the more typical and traditional kind of scholarship. It awards money to those in need of financial help and wish to go to a university without any monetary expenditure. However the financial need has to be proven to the university or institute offering financial aid.
This scholarship is made for the athlete in you. It does not consider the kind of major you wish to study or your previous academic achievements. The scholarship is based on excellent sports achievements which universities of various kinds offer in order to attract the very best of talents out there. The university obviously requires you to represent it in sporting events.
The number of companies offering scholarships is increasing with time. Companies like HSBC and Lloyds have begun offering scholarships which is inclusive of certain work experience as a package deal.
Personal interests and hobbies
There are certain scholarships out there which are entirely based on the type of extracurricular activities you exhibit interest in for instance your display of commitment to the community and improvement of lives of others might get you a scholarship as well.
How to Apply for College Scholarships?
Every college has its own specified requirements when it comes to scholarships. Your college scholarship applications will depend on your eligibility which further relies on a variety of different factors such as your subjects and related achievements. When you apply to the college, the concerned institute will advise you in terms of the eligibility criteria along with the availability of students. Don’t expect every college to offer you the exact kind of scholarship you are looking for simply because not all colleges have the right kind of resources to cover all the funding opportunities you might be eligible for.
However there is increasing number of scholarships being provided to the UK students from universities in America. These have been designed specifically to help students in reduction of their debts along with provision of mentoring and work experience in certain situations. Do not forget that the scholarships and bursaries are not limited to college financial aid and academic merit. You should attempt to think out of the box and the typical search parameters to land yourself a good scholarship. Examples of some not so common scholarships include:
- Transfer student scholarship
- Air force rotc scholarship
You should carry out a thorough survey of the desired institute. Checking out the college’s website and going through testimonials is a good option. Make sure to read all the demands and clauses of the application and do not forget to meet the deadlines stated for the application.
How to Get the Scholarship Money?
This depends entirely on the kind of scholarship you are applying for. There are certain scholarships which make a direct transfer of money to your college where the money basically covers your tuition and other related fees and the leftover funds are then offered to you. Whereas there are some scholarships which provide you a direct check and expect you to carry out the proceeding processes. You should be informed by the scholarship provider in terms of what to expect. Moreover you should be informed instantly after being awarded the scholarship. If this does not happen you must not be hesitant to ask.
Effect of Scholarship on Other Financial Aid
Yes unfortunately other student aid is definitely going to be affected by your scholarship. The reason behind this is that the student aid offered to you is considered collectively and it simply cannot be more than the cost of attendance at your particular institute. This is not a means for you to make money rather you are being offered help in order to support your education. Your college has to be informed in case you are awarded any kind of scholarship so that the financial aid office can carry out the necessary steps.
The financial aid office will make sure to subtract the amount you are being awarded from the cost of attendance. The amount left as a result will then be covered by the type of financial aid you have been deemed eligible for. Do not hesitate to inquire the financial aid office in case of any queries or confusions.
References and Resources for Student Scholarships:
Student Scholarships, availhttp://www.student-scholarships.com/
Source of Scholarships, available at http://www.scholarship-search.org.uk/
Hub for Student Scholarships, available at: http://www.thescholarshiphub.org.uk/