A scholarship makes studying abroad easier and education is everyone’s right, but unfortunately, not everyone is capable of achieving quality education. There are different scholarships available, need-based and merit-based. To create equal opportunities for everyone, governments, private organizations, and sponsors have devised various schemes to help these students. These scholarships allow them to study in the most prestigious institutes in the world. The scholarships allotted are often fully funded, partially funded, merit-based, need-based, etc. More than 80% of students receive scholarships of some type throughout the world. The benefits associated with scholarships make it appealing for students to reach the criteria. All of these scholarships cover selective academic costs as per their education scheme. Following is a detailed description about what is the difference between merit-based scholarship and need-based scholarship.
Merit-based Scholarship
As the name suggests, merit-based aid is a type of scholarship that is offered to those students who fulfill the criteria. The criteria usually of these Merit-based Scholarships for international students involve a certain level of academic excellence, percentage, and extracurricular achievements. In addition to that, various test scores, language proficiency tests, and personal statements are required which determine the eligibility of the candidate. It is a rigorous testing process, after which the committee decides the final candidates. Each scholarship organization has its own set of rules and eligibility criteria for merit-based scholarships. Some types of merit-based scholarships are as follows:
- Academic Scholarships
This scholarship is awarded to students who have an excellent academic background. Those students who have maintained their GPA or CGPA will be eligible for this scholarship. Moreover, the college or institute may ask for a college test to determine eligibility.
- Athletic scholarships
These scholarships are awarded to students who have a good athletic build. The candidate must be involved in sports and must exhibit great skills on the ground. This can provide you a chance with a paid tuition fee based on your sportsmanship. As sports bring revenue to college as a result of various competitions hence they should be availed. Students can be paid for their excellent skills. In addition, a certain percentage for your academics is also set for these students. They must maintain their studies and sports to achieve this scholarship.
- Talent Scholarship
This scholarship is awarded to those students who are skilled in extracurricular activities. They should maintain a certain academic grade and can also thrive in their non–academic skills. In this way, they’ll be able to pursue their studies and passion.
Need-based Scholarship
This type of scholarship is awarded based on your financial status and needs. Students who are unable to pay for their college fees can apply for this scholarship. For this, students avail a financial aid plan to fulfill their needs. The admission committee prepares a student aid index and expected family contribution to analyze the aid package. Financial statements of your family are required to prepare a relevant aid package. There are certain financial aid plans which can be availed as follows:
- Grants
Many grant programs are offered to deserving students to continue their studies. Many private organizations offer study grants to students. For example, the Pell Grant is available for students who are incapable of paying their tuition fees. These grants do not need to be paid back.
- Loans
If a student is unable to get any type of scholarship based on financial aid or merit, then there is always an option for a student loan. The college can present you with a desired loan program o loan package that you can accept. Loans have to be paid back after a due time. Hence, you can access education, but you will have to repay the amount as part of the loan package.
- Federal programs
There are many assistance programs offered by federal scholarship programs. The state government provides need-based aid, which waives tuition fees under federal study programs. Almost 4,000 USD are provided per year to cover the expenses.
Other Types of Scholarships
Some other criteria offer scholarships to students covering their academic expenses. These scholarships are provided to students belonging to different ethnicities and communities based on their unique backgrounds. Some of these scholarships are:
- Scholarship for students of color
- Scholarships for military families
- Scholarships for non-traditional students
- Scholarships for disabled students.
Examples of Merit-based Scholarships
Following are some examples of merit-based scholarships which students can apply for. These scholarships are offered in multiple disciplines at various study levels. Such as:
- Fulbright Foreign Student Program (USA)
- Chevening Scholarship (UK)
- Vanier Canada Graduate Scholarships (Canada)
- Swiss Government Excellence and Scholarship (Switzerland)
- Eiffel Excellence Scholarship Program (France)
Application Process for a Need-based Scholarship
Need-based scholarships are applied for in the respective institutes you are enrolled in. The candidate must fill out the Free Application for Federal Student Aid (FAFSA). The candidate must attach all relevant academic and financial documents to be eligible for financial aid.
Conclusion
There are different types of scholarships available for students at different academic levels and disciplines. Most commonly, scholarships are divided into merit-based awards and need-based awards. Candidates can check for their eligibility criteria and apply for the respective program.
Written by: Hajra Imran
