Navigating the financial aid system can be one of the most important and confusing parts of the application process. For many students aspiring for high quality education in the field they choose, scholarships can be very useful. Scholarships make education affordable and enable you to access the best universities in the world.
Types of Scholarships:
- Merit-Based: Merit-based scholarships are awarded based on individual achievements, such as academic, athletic, artistic or other accomplishments. Merit based scholarships need not be paid back and are offered by colleges and universities as well as state governments. Merit-based scholarships can usually be renewed for several years, provided that the students meet the academic requirements.
- Need-based: Need-based scholarships are scholarships that are awarded based on the financial need of the student. The student will be required to demonstrate financial need at a predetermined level to be eligible. These scholarships may provide coverage ranging from full tuition fees to partial tuition fees, living costs or even the cost of books at times.
- Private and Foundation Scholarships: Private scholarships come from corporations, individuals, religious groups, non-profits, civic organizations, employers and professional organizations. Most are awarded based on certain criteria, such as academic performance, extracurricular activities, community involvement, ethnic heritage and religious affiliation.
- Minority- based: These scholarships strictly target minority groups that may be disadvantaged at some level and are given the opportunity to compete on common grounds through financial aid.
- University Specific Scholarships: Most institutions have certain core competencies that form the foundation for their research, education delivery and reputation. Hence, to enhance their ideologies and knowledge systems, universities introduce study abroad scholarships that are unique to their prestige. While some of these awards are well-publicized, others are harder to find. The largest school-specific awards tend to come from major universities with large endowments, though this is not always the case, as some small liberal arts colleges also offer generous financial aid.
How IvyLeap Can Help:
Finding a good university scholarship can be an instrumental part of choosing a college especially if you can find one you can win. Competition tends to be fierce, and applications are often due early in the academic calendar. The sooner you are aware of deadlines and expectations, the better off you will be. Based on your merit and other factors, IvyLeap can match you to the right university. With extensive experience with colleges worldwide, we have all the necessary resources to match talent with scholarships.