What Is A Scholarship, How To Get One, Here's An Explainer

Scholarship is a blessing, especially for those who aren't financially stable. It is a financial aid for students across fields. While it continues to be one of the most talked about topics among students, not many are aware of how scholarships work. Many also struggle to bag the scholarships. So, here, we thought of sharing a breakdown of scholarships - what are scholarships, how to get one, and the benefits of bagging one.

What Is A Scholarship?

Scholarship isn’t your student study loan. Like study loans, you don’t have to pay back the financial award you get. With a scholarship, the student directly receives the money in the form of a cheque. In the case of minors, the money is transferred to the student's school. If there is a difference in the tuition fee, it is paid by the students. If the scholarship amount exceeds the tuition fee then the money is refunded to the student.

Benefits Of A Scholarship

• A lot of students who dream to access education often step back due to financial constraints.
• With a scholarship, students can access good education without worrying about money. Scholarships also keep students debt free and let them study without any loan burdens.
• Getting a scholarship also helps students enhance their resumes. Among the list of achievements, students while highlighting their academic achievements can mention bagging a scholarship. This creates a positive impact and lets the employer know about the student's capabilities.
• Scholarship is a big motivation for any student. Other than giving financial aid to the student, it infuses a lot of confidence.
• Often students aren't able to focus on their dreams because of a lack of financial assistance. As the scholarship takes away the burden of finances, students get to focus on their real goals.

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How To Get A Scholarship?

Look For Scholarships Online And Offline

Begin by searching for scholarships. The easiest way is to look for it online. If you are looking for a scholarship for a specific program or university, go to the official websites, and search programs online with relevant keywords. If you are in school or college, connect with your teachers, counsellors and ask them if any scholarships are available.

Take Note Of The Criteria

Once you find the scholarship, hunt for the eligibility criteria, and take note of it. Make sure you also look for the deadlines. Keep track of the deadline so that you don't miss the important dates.

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Prepare Your Application

Remember that multiple students will apply for the scholarship you are eyeing at. Make sure you have everything handy, right from your academic records to personal and financial information. Some scholarships might also need you to give an exam. Look for the scholarship selection process beforehand and prep accordingly. Some colleges/schools might also ask you to submit references, make sure you prepare for them in advance. The referees might be someone at your workplace, your teacher, or counsellor at college or school.