All You Need To Understand About Scholarships


Scholarships are a great solution for any deserving student without enough funds to attend a decent college. Despite being around for over 2 centuries, many students are not very familiar with scholarships and their systems. Dr. Philip Baldeo, a prominent family doctor in New York, believes that scholarships have helped countless students achieve their dreams.

The meaning of scholarships

Scholarships are a type of financial aid designed to assist students in affording their college tuition. You can consider your scholarship money free money that rewards you for your commitment to learning. You can receive your scholarship in the form of a one-time check. But there are other options. For instance, some scholarships are paid per semester or per an entire academic year. If the scholarship money is insufficient for the whole tuition cost, you will be responsible for filling in the gap.

Scholarships can cover different levels of college education and postgraduate studies up to your PhD.

Who gets college scholarships?

There are basically two types of scholarships: merit-based and need-based. The majority of available scholarships are looking for excellent students. But not all scholarships target students with a 4.0 GPA or higher. There are scholarships available for athletic students. Other scholarships are targeting those with a record of volunteer work. So, no matter what the requirements are, you will always find a program that works for you.

Is it possible to apply for more than one scholarship?

There are scholarships that offer a huge sum of money that can keep your finances covered. These scholarships require that you don’t apply for any other programs. However, there are other scholarships that allow you to apply for as many other programs as you wish. Usually, these programs offer a small sum of money.

How to spend scholarship money

This issue is on the minds of all students, even before they get a scholarship. Well, generally you get these funds to pay for your tuition. However, you get to spend it on other relevant matters too. You can use some of the funds for your living expenses such as food, transportation, and rent. You can use the money to buy your books and other necessary objects for studying, such as a laptop or relevant programs to complete your studies.

What are the sources of scholarships?

Scholarship money doesn’t come from a single source. There are plenty of scholarship providers, both individuals and organizations. Individual providers of scholarships are usually businessmen or entrepreneurs who want to give back to their alma mater. They offer financial contributions to these colleges in order to make their education more accessible to more students.

Other sources for scholarships are charity and non-profit organizations. There are also clubs or companies offering funds for college students. There are ethnic or religious groups funding scholarships. No need to mention that the military contributes some funds to specific scholarship programs.

Scholarships can be very hard to get. However, they are not absolutely impossible. Dr. Philip Baldeo advises students to dedicate time and energy as the reward is definitely worth their while.

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