Scholarships

Scholarships are a form of financial aid offered to students to help pay for college, graduate school, or in some cases grades K-12 (kindergarten through senior year of high school). Scholarships are different than student loans because they do not need to be repaid, and they are different than grants because they tend to be based on merit, while grants are issued based on financial need.http://www.umsl.edu/services/finaid/scholarships/about.htm

There are a variety of reasons why a scholarship may be awarded to a student. They are given out for athletic achievement, general academic achievement or excellence in a specific subject or field (particularly if this field will be the student's college major). Some scholarships are also awarded based on ethnicity or religious affiliation.http://www.finaidfacts.org/scholarship_types.htm

There are a number of sources that offer scholarships to students. One of the first places many students check is with their school guidance office. Often, counselors have access to information about scholarships that meet the needs of the students at their schools. Employers may also offer scholarships to workers. Individual states also offer scholarship opportunities for students who reside there, and the state office of higher education can provide more information about available opportunities. In addition, the college or other institution that a student is planning to attend might offer scholarships of its own.http://www.collegeboard.com/parents/pay/scholarships-aid/21403.html

The content in this page is not a substitute for professional financial advice. Please contact your financial adviser before using the information presented here.