Many students and their parents want to know all about the kinds of scholarships available for college because the money allotted for tuition can go to other things such as lodging, books and other expenses. Scholarships are a big help for financially needy college students, working students and those that have to shoulder their education on their own because their folks back home can’t afford it. Some people think that scholarships are like loans, but some kinds of scholarships are actually grant awards that need no repayment.
There are some cases where a scholarship may be packaged along with student loan options and work-study options. These financial aid packages are offered by colleges and universities to first year students that successfully get in. There is a need for these kinds of scholarships and student loan bundles in most big universities and colleges because of the current trend of not selecting students based on their capacity to pay for their education. Need-blind admissions have paved the way for financially needy but intellectually capable students to get into the university of their dreams.
Here are the kinds of scholarships for your reference.
Private scholarships are numerous and most of these are granted by civic group and other not-for-profit organizations. These organizations accept donations to fund their scholarship programs. The kinds of scholarships offered by religious groups are also considered private scholarships. Most religious groups award the scholarship to a member of their church, but some offer scholarship regardless of the religious affiliation of the student, as long as the academic requirements are met. Usually, a member of the congregation endorses or nominates a student to become a potential recipient of the scholarship.
Some organized sectors of the community may also be raising funds for private scholarships. For instance, groups that aim to help disabled students may be offering scholarship grants for members of their sector that want to attend college. Various kinds of scholarships are also offered by ethnic groups, i.e. latinos, blacks and Asians. These groups select several students to send to college. Students with parents that work in the university may also be offered free tuition and board by the school.
Company scholarships are the kinds of scholarships offered by large corporations. Some companies have specific requirements, such as the college course that their potential candidate should be interested in. Large companies are always interested in helping future leaders, whether or not these students decide to work for the company in the future.
Some students go for the ROTC scholarships offered by The Armed Forces. Partial or full kinds of scholarships are awarded to promising young men and women. The government pays for the student’s tuition and in exchange, the student promises to serve in the military for a particular period after graduation.
Merit scholarships are numerous as most colleges are after the students that represent the cream of the crop in terms of academics, talent in sports and leadership potential. The qualifications of the student are scrutinized carefully as competition is stiff for this kind of scholarship.