Scholarships & Funding
Scholarships and Funding are financial instruments to counter the lack of finances that the candidate experiences or will experience while pursuing his education whether school, under graduation or graduation.
Scholarships :
Scholarships can be classified on different platforms. From one perspective scholarships are divided on the basis of :
- merit: These sort of scholarship depend on the performance of the student at the exams.
- financial status of the student : This scholarship depends on the monetary status and the intelligence of the student.
- faith (minority) : in some institution the scholarship could be on the basis of the group that you belong to and in some cases it could be such that the minority group student is given priority for scholarships.
- physical deformities (physically handicapped ) : Sometime some scholarships are reserved exclusively for the students who are physically handicapped.
According to other perspective, the scholarships could be based on :
- Academic: The academic scholarships are offered on the basis of the academic performance of the candidates. A Specific GPA is the criteria for a Academic Scholarship. A student with high grades usually becomes applicable for this scholarship on getting admission but in some institutions there are formalities and the student has to follow an application process. If a student wants to continue getting this scholarship he/she has to maintain a ceiling grade. If the student cannot maintain the ceiling grade he/ she is put on probationary status. This scholarship can be terminated if the student fails to maintain the ceiling grade after being on probation.
- Athletic : This sort of scholarship is offered to candidates who perform excellent at sports . This scholarship is not easy because many are there in the fray.
- Departmental awards : This scholarships are offered to students to attract their interest in other field or departments.
Funding : Funding covers nearly all the issues related to meeting the expenses at college. One can decrease the expenses at school by taking part in regional student exchange program, working as resident assistant, by buying the textbooks that are used, fixing or locking the rates of the tuition, opting for loan-forgiveness programs, joining the Armed Forces, taking the APP classes in high school and earning college credit, studying during winter and summer breaks, spending the students savings first, seeking employer programs, accelerating the studies, opting for work-study and co-ops , opting for state preferred –rate loans or the college’s own loans.
The biggest advantage of scholarships is that they have not to be paid. The other financial instruments have to be repaid with the interest.
