Students who can show both college eligibility and financial need are candidates for need-based scholarships. These scholarships usually take into consideration all other scholarships, grants and other non-repayable financial assistance that the student has received. Need-based scholarships may be awarded on an annual basis or may be awarded once for a multi-year period. Some need-based scholarships are awarded only to students enrolled or enrolling at a particular college. Others allow the student to choose a school. Students are required to maintain passing academic status and to be enrolled continuously at the specified institution. Need-based scholarships are usually awarded in a specific dollar amount without regard to the cost of tuition and expenses.
Academic scholarships are awarded to students who have shown exceptional academic merit during their school careers. Individual institutions and foundations award academic scholarships to high school seniors, students currently enrolled in classes, undergraduates enrolling in graduate schools and graduate students enrolling in doctoral programs. Traditional academic scholarships do not consider financial need when determining awards. As with need-based scholarships, academic scholarships may be associated with a specific university or may allow the student to choose a school and may be a single-year or a multiple-year award. Many academic scholarships do not provide a set dollar amount, but rather cover costs of tuition or books up to a pre-determined limit. Recipients usually must continue to meet specified academic requirements in order to continue to receive scholarship monies.
Foundations and organizations often offer scholarships to students who meet specific qualifications outside need or academics. Some such scholarships are offered based on race or ethnic background, religious affiliation or residence in a geographic location. Other scholarships are offered to members or the children of members of certain clubs, groups or organizations. Yet other scholarships are awarded to students majoring in certain concentrations or pursuing certain degrees. Although neither is the primary qualification, these scholarships may require or consider financial need and/or academic performance and may specify the school or degree program required for the award. Scholarships may provide a set amount or may cover specific costs up to a pre-set limit. Students may receive a single- or multi-year award.