The primary function of scholarships offered to individual students is to permit access to institutions of learning. The students might otherwise not be able to attend these schools for financial reasons. The secondary function of a scholarship is to attract students with desirable academic or athletic capabilities to a particular school. Good examples are football scholarships that offer to pay for a student athlete's education if, in turn, he agrees to play on the school's football team.
Student who come from economically depressed backgrounds find that scholarships significantly improve their ability to receive a higher quality education. Schools, on the other hand, recognize that wooing student star athletes to their teams improves the school's overall image and thereby increases the number of applicants at the onset of the semester.
There are various different types of scholarships made available, depending on the organizations and schools that offer them. The most commonly seen varieties are the merit-based and the need-based scholarships. Merit-based scholarships are offered to anyone, regardless of financial background, providing that the student has a desired talent. Sports scholarships fall under this umbrella. Need-based scholarships commonly require an applicant to prove an economic need as well as academic prowess. Moreover, in some cases, need-based scholarships are tied to certain degree programs or courses of study.
Students who do not meet either the merit or the need tests may still have a chance with lesser-known scholarships. These are sometimes whimsical, as is the case with scholarships offered only to left-handed individuals, while at other times they are tied directly to membership in a religious or nationalistic organization. A good example of these institutional scholarships would be the grant of educational funds for members of a faith community that also operates a school on its premises.
It is a common misconception that grantors of scholarships will go in search of worthy students. Even as this may be the case for merit scholarships offered for a select few student athletes, the vast majority of grants are only offered to those students who ferret out the appropriate application information and then follow the outlined procedures of the application process.
Some scholarships have strings attached. For example, a scholarship offered by a certain institution may require the student to work for the institution for a predetermined period of time. Should a student break off his studies, any unused funds usually need to be repaid to the grantor of the scholarship. There are also other criteria that, if they are not met, may result in a withdrawal of scholarship assistance and also the obligation to repay funds already offered.