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Scholarships are one of the financial aids that are awarded to students for their education. One of the major differences between Scholarships and other types of financial aids is, that it does not necessarily be repaid. Scholarships can be classified into many types, but they are mostly merit based.

Types of Scholarships

The merit based Scholarships are usually awarded in accordance with student’s performances, which may be academic, artistic, and athletic or based upon other qualifying activities. Usually the Scholarships are based on academic achievements, for which students need to achieve high scores. In such a case, the scholarships are paid directly to the students.

Furthermore, need based scholarships are also one of the options that are available to students. In this type, the organizations or universities calculate the financial status of the families. If the finances are according to the eligible norms, then students are awarded Scholarships for their education.

There are various Scholarships that are social specific and are awarded to students who belong to a particular gender, religion, race or caste in the society. One of the Scholarships such as, Gates Millennium Scholar Program, provides Scholarship to those students who belong to American Indian, African American, Asian Pacific Islander American and Latino categories.

In many cases, students are awarded Scholarships based on the career that they choose. These are most commonly given to those students who pursue teaching or nursing as their profession.

Availing the Scholarships

In order to understand and avail a particular kind of Scholarship, students need to check online or contact the financial aid office of their college. In many cases, students can also reach their university or public library to get additional information.

In order to get Scholarships, it is very important for students to keep a track of all the organizations that award Scholarships and their latest dates. Moreover, being an early bird is always a wise thing. Students should also plan and search the benefits of different scholarships, for which they are eligible.
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