Scholarship awards are an essential source of funding for students who need financial support for their education. Not only do they relieve students of some of the costs of tuition fees, but they also acknowledge, appreciate and reward hard work, talent and diversity. Knowledge about ‘What are scholarship awards based on’ is therefore useful to the students and their families on the process involved.
What is a scholarship and how does it work? Scholarship is one of those things that define educational stepping stones to academic success and the world of higher education. Since scholarships are the financial channels that ease the burden of tuition fees, they play a vital role in determining students’ future across the world. Whether it is academic performance, athletic achievements, music, art, drama, volunteering within the school, or extracurricular activities, scholarships embrace all dimensions of excellence.
But, have you ever wondered what scholarship awards are based on? Keep reading to find the answers to your questions!
Definition And Importance Of Scholarships
Scholarships are types of financial aid meant to assist a student in proceeding with his or her studies. Unlike loans, scholarships cannot be repaid and hence they are special in their own way. Scholarships are the type of funding that students get for tuition instead of loans or work-study if they manage to secure them. This means that through scholarships, students and/or parents are relieved of some of the costs. Scholarships can be based on achievement (academic, athletic, music, art, etc), need or any other condition that the provider of the scholarship will set.
Merit-based scholarships are awarded to students depending on certain criteria that they have to meet, for instance, a minimum grade point average, skills, abilities, or talents that they have to meet, and other criteria can be field of study.
Another type of scholarship is the need-based scholarship, which is awarded to students who have an inability to finance their educational needs. A common type of need-based scholarship awards are a grant or bursary awarded to students who have financial hardship.
Scholarships are usually viewed as one of the preferred practices to motivate students and acknowledge achievement. They encourage the students to set and strive to achieve higher standards of performance than they would if no such incentives were provided.
Scholarships are provided either alone or in conjunction with other categories of grants. The scholarships may be awarded for graduation, research, academic performance or for any event, such as a sporting event. This is usually the reason why scholarships have specific qualifying criteria and the amount of money that is awarded.
What Are Scholarship Awards Based On?
Scholarship awards are given based on different criteria, which we are going to discuss below:
1. Academic Merit
In the framework of many scholarship programs, one of the key elements is the focus on academic performance. The grade point average, test performance and other achievements are therefore measurable indicators of a student’s aptitude and commitment. Scholarships, especially in academic aspects, not only help in alleviating financial problems but also assist in increasing the morale of hard-working students in carrying on with their studies at higher learning.
Academic scholarships reward the achievement of students; those who have performed exceptionally well in academics are awarded scholarships. This can be measured through various means, such as:
- Grade Point Average (GPA): A high GPA scale has always been a criterion for a determined and hardworking student in their academic life. The minimum requirement for most merit-based scholarships is GPA, and most applicants are expected to have a GPA of more than 3. 0 or 3.5, depending on the level of competition of the award.
- Standardized Test Scores: A scholarship may equally use some scores such as SAT, ACT, GRE, GMAT or other tests. High results on these tests play an essential role in differentiation and prove powerful evidence of the applicant’s ability to succeed in a higher educational institution.
- Class Rank: Some scholarships assess a student’s class rank, which indicates how well this student performs compared to other students. Being in the top 10% or 5% can actually work to one’s advantage.
2. Extracurricular Involvement And Talent
Another criteria on which scholarships are based on is talents as well as extracurricular practice. These scholarships recognize students who excel in areas beyond academics, such as:
- Arts and Music: Talent-based scholarships for learners who demonstrate prowess in the arts such as graphic arts, dancing, acting, singing, and instrumental playing normally include an audition or portfolio. These awards are aimed at contributing to the development of artistic recognition.
- Athletics: It means that the students involved in sporting activities and the ones who excel in it are awarded athletic scholarships. These scholarships are prevalent in institutions of learning known to have competitive sports teams. In general, applicants are assessed in terms of performance, capability, and, in some instances, their accomplishments in the classroom.
- Leadership and Community Service: Leadership and community service-based scholarships award students who have displayed leadership qualities and/or have placed themselves in various community service projects. These awards tend to involve the writing of essays or personal statements that give an account of achievements and involvement.
3. Financial Need
Many students cannot afford to pursue their education goals owing to the high costs associated with college education. Need-based scholarships work to remove such barriers so that one can perform well academically regardless of their economic background. Scholarships of this nature benefit students in that they are able to successfully pursue their education dreams despite their various economic statuses without having to grapple with student loans. This inclusiveness enriches the nature and quality of education being offered, with participation being open to all individuals with or without capital.
These scholarships are mainly in the need-based category and are intended to assist students without adequate funds to finance their college education. The assessment of financial need typically involves:
- Family Income: Scholarship committees usually request to see copies of income proofs, including tax returns or a form containing family income details (FAFSA in the case of students in the United States).
- Cost of Attendance: This incorporates the total expenditure incurred on tuition, other fees, accommodation, and other miscellaneous expenses a student has to meet to be in the institution in efforts to determine the financial shortfall that the scholarship could fund.
- Financial Aid Eligibility: Other, available means of financing, such as grants, loans or work study, available to the student within the given institution are also taken into account to determine the rest of the need.
4. Field Of Study
There are also specific scholarships that are awarded to students on the basis of the course they intend to take. These awards are meant to motivate and provide financial assistance to students in fields that are considered to be in demand or scarce of human resources. Examples include:
- STEM (Science, Technology, Engineering, and Mathematics): STEM scholarships are intended to further careers in science, technology, engineering or mathematics. These awards are sometimes very selective and are usually sponsored by corporate bodies, government bodies, and professional bodies.
- Healthcare and Nursing: In light of the continual shortage of professional healthcare workers, there are a myriad of scholarships that are offered to students who have an interest in practicing medicine, nursing, or related courses. Some of these scholarships are provided based on the candidate’s willingness to practice in areas deemed to have few professionals in practice.
- Education: Through scholarships for future educators, society seeks to meet the demand for competent teachers. These awards do sometimes help students turn into teachers in areas or subjects that are most needed.
5. Diversity And Inclusion
Scholarships are also given according to demographic and background information in a bid to diversify the population in learning institutions. These scholarships are for students from diverse backgrounds or students who faced certain difficulties in their lives. Categories include:
- Ethnicity and Race: Minority student scholarships are offered to enhance the number of students of color and to give equal chances to those who have been overlooked for a long time. They are offered by organizations and institutions with the goal of providing equal opportunities for everyone.
- Gender: Women’s scholarships are intended to tackle gender inequalities in some careers, like technology and look out for women’s interests in education.
- First-Generation College Students: Scholarship opportunities for first-generation college students cater for students that have joined college for the first time in the family. These awards acknowledge more of the difficulties that first generation students might meet on their way.
- Geographic Location: There are scholarships that are given according to where the student lives or where their school is, such as state scholarships or community scholarships. Such awards are frequently intended to promote the education of local students and their commitment to the community.
Conclusion
Scholarships are essential for education because of the financial aid they provide while promoting and supporting a wide range of abilities and characteristics. By knowing what scholarship awards are based on, the student himself can comply with the guidelines set by organizations granting scholarships.
Scholarships act as a key to opportunities that encompass the values of diversity, embracing one’s uniqueness, identifying strengths, and creating a vision for the future.
In today’s society, which claims that education is the solution to a myriad of problems, scholarships represent a hope for scholars from all over the world.
