Saturday, 17 August 2013

Basics On Scholarships For Underprivileged Students

By Helga Stokes


A scholarship is the name given to an award issued to students to further their education. It is essentially for financial aid. Different criteria are used in choosing the recipients of such awards. Typically they reflect the purposes and values of the founder or donor. Scholarship money must not be repaid and is often used toward higher education. There are many scholarships for underprivileged students.

In reality, getting a higher education and going to college is expensive. Many people attend university or college through financial aid, such as loans or grants. The grants are usually not required to be repaid but loans are.

For some people, scholarships are the best and only opportunity for them to attend college and get a degree. Some have all the determination, goals and drive but not the money they need in order to make their dreams a reality. Through this kind of aid, underprivileged students even get the chance to learn and get educating, earning all the tools they need in order to be successful.

These awards can be classified into five main categories: college specific, career specific, student specific, need based, merit based. In America, need-based awards are given to students based on the financial records of their families. Some of these awards include a bond requirement. That is, the recipients are required to work for a specific employer for a certain time, or to work in remote or rural areas. Otherwise, they may be forced to repay the money. This is often the case with nursing and education awards.

In cases where the scholarship is considered a federal award, the applicants must complete a Free Application for Student Aid or FASFA form. Need-based awards that are private usually require the results from this FASFA, which estimate the amount of financial aid that is needed. This is done utilizing a formula that assessing the contribution from family, as well as cost of attendance.

Recipients are usually good at something. They might be skilled at a sport or activity, or extremely intelligent. Sometimes they may be given it based on other factors as well. These awards may include enough money to cover the entire costs of schooling and others only provide enough to pay some of it. There are usually some stipulations in place regarding payments being issued. For example, an athlete with a sports scholarships might have to play the sport the duration of their schooling time or maintain a certain grade point average to keep the award active.

Many utilize local awards of this kind. Teachers and counselors at schools can provide students with resources and information related to scholarships that they are eligible for. Local scholarships tend to be less competitive than national or international awards.

A great number of scholarships for underprivileged students are available. The awards are essential financial aid that does not need to be repaid. In some cases, this is the only opportunity people have to attend college because it is far too expensive otherwise. The awards will range in stipulations, application process and the financial aid amount.




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