A scholarship program is an opportunity to receive financial assistance to help pay for college. Scholarships are different than student loans because they do not need to be paid back. They can come in the form of a one-time check or they can be awarded periodically, like each semester or school year. Often times, scholarships are used to cover direct college costs like tuition, fees, and books. But, they can also be used to cover ancillary expenses such as transportation and housing.
Scholarships are offered by schools, companies, nonprofit organizations, community leaders, and others. They can be merit based or need based and may require special criteria to qualify. Merit-based scholarships typically focus on academic performance such as grade-point average or standardized test scores. They can also be based on extracurricular activities such as club memberships or community service. Some are based on gender or racial identity, while others focus on specific fields of study or athletic talent.
Some scholarships provide a full-ride or cover all of your college costs including tuition, fees, room and board, and required supplies. However, you will still need to apply for other types of financial aid such as grants and loans.
There are also a number of scholarships that prioritize social impact, diversity and inclusion, and even internship placement opportunities. For example, Google offers a scholarship that is aimed at high-achieving students with disabilities and financial need who are committed to advancing their careers in technology. Similarly, the Edison Scholarship by Southern California Edison provides a $10,000 scholarship and an internship to college juniors with demonstrated financial need.