27.2 C
Accra
Wednesday, February 21, 2024

Related stories

Students & ScholarshipsHow do scholarships work? Find out how

Date:

How do scholarships work? Find out how

Scholarships vary greatly in their value, ranging from a few hundred dollars/pounds/euros to several thousands.

While they may not cover the entire cost of your education, every bit of financial assistance is valuable.

- Advertisement -

Scholarship funds can be used to pay for tuition fees, textbooks, living expenses, and other miscellaneous costs, depending on the specific scholarship you receive.

Different scholarships cater to different groups of students. Some scholarships are exclusively available for high school students who have yet to begin their college education, while others target students entering or already enrolled in tertiary education.

- Advertisement -

Scholarships can be awarded based on various criteria such as financial need, academic performance, or merit. They often focus on specific areas of study, interests, qualifications, or notable achievements.

They can also come from a wide variety of sources, including schools, private businesses, foundations, non-profit groups, charities, governments and individuals.

- Advertisement -

Because you don’t need to repay scholarships, there is no reason to limit the number of scholarships you apply for.

Some students fund their entire education through a combination of scholarships.

Many scholarships are offered year-round and don’t impose limits on which semesters they can apply to.

Whether you’ve been awarded scholarship money in the past or you’re applying for the first time, it is worth it to apply.

Every scholarship application will have its own requirements. Some applications are quick and simple, but others might be more involved.

For example, you might have to submit an essay with your application, or you may need to collect multiple letters of recommendation.

Many scholarship applications have hard deadlines in place, so it’s important to plan accordingly.

Scholarships can be based on several eligibility criteria such as needs, country or region of origin, gender, field of study, race, etc.

Scholarships are able to provide for various costs typically related to higher learning―from lab fees to books, living expenses, transportation, tuition and even more. A scholarship is at times a one-time payment.

Other scholarship awards are renewable; they provide students with funds each academic year or semester for some years or the entire duration of study.

In some cases, the scholarship money is made in the student’s name and paid to them directly. The money is, on other occasions, given to the institution or school of the student.

In these instances, the institution is then paid by the student for the discrepancy on any money due for tuition, accommodation, and other fees.

In the event the scholarships are ample to provide for the direct higher education costs, the surplus fund is reimbursed to the student.

If you are awarded multiple scholarships, there will often be a limit on the total amount of funding that you can accept. This is done so that other students can also be given an opportunity to receive funding.

Scholarship awards usually contain several details including the obligation of beneficiaries and rules. A scholarship may be stopped for one reason or the other based on the scholarship provider and their specific criteria/rules.

For example, a scholarship provider may halt a scholarship because the student dropped in academic performance, was involved in illegal activities or because the student spent the provided funds inappropriately.

Latest stories