A financial award based on academic performance, talent or other factors.
Scholarships may have certain requirements, but do not have to be repaid.
Aid awarded to students in recognition of academic abilities including
special skills, talents, specific fields of study, community service, leadership
abilities and athletic ability. Some merit scholarships also consider financial
need, but rewarding talent is the primary objective.
Aid awarded to students who do not have sufficient financial resources to pay
for their education beyond high school. Distribution is primarily based on the
financial need of the student and his/her parents’ income level.
Financial assistance through a lending institution or college that usually
does not have to be repaid until you complete your education.
A non-repayable grant. Bursaries are usually smaller cash awards than
scholarships and are usually granted on the basis of financial need. The
difference between a scholarship and a bursary is that scholarships are usually
merit-based and are awarded for scholastic achievement.
A gift of money that does not need to be paid back awarded on the basis of
the greatest financial need to finance a particular educational need. The terms
scholarships and grants are often the same.
Money usually granted by a university, foundation or other agency to a
graduate student. Along with the general requirements of scholarship, a
fellowship usually attaches restrictions such as the advanced pursuit of courses
or research in a particular field of study or performance of certain duties.
Recipients may be subject to service and/or payback requirements after the