Where Do Those Scholarships Come From?
Most schools and many private institutions offer scholarships to students based on merit or academic achievement. These may be offered to students upon admission to the school or after careful evaluation of the students’ portfolio or may be given to students who have applied specifically for the funds.
Federal Government Funds
The Federal Government sets aside funds for students based on different criteria. Some Federal funds are given to students based on need, while some are based on both their need and area of study. These scholarships are used from taxpayer money and given to students that are thought to deserve it by a process of evaluation. Students seeking these scholarships are usually asked to apply for the scholarship. They may or may not be asked to complete a personal essay, turn in transcripts of past studies for evaluation and/or turn in letters or recommendation from teachers or employers. Click here to find a way to finance your education!
Private Funders
Many philanthropists and organizations have created endowment funds that are given directly to students for the purpose of scholarship. These are usually created by either individuals or organizations who solicit donations from private funders. Each organization or individual can set up their own criteria for selecting who receives the scholarship or scholarships and it is usually decided by a committee. Some scholarships are merit-based (past volunteer work or a demonstrated talent) and some are academic based. Many are a combination of the two. Click here to invest in your future.
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