Scholarships and Grants are financial aid you don't have to repay to the institution granting them. The money comes from federal funds, universities and private institutions for students with economic need and good qualifications.
A college scholarship is an award of access to a higher education institution and/or a financial aid award for a student to further their education. Scholarships are not only based on financial need, but also on academic merit, athletic performance or a specific field of study! It is an alternative way to pay for college with the advantage that you receive financial aid as a gift from educational institutions or nonprofit organizations for your past and future achievements.
College scholarships can be awarded on the following criteria:
As soon as you are applying for college you can check whether the university is providing scholarships or if there are other institutions where you can get your scholarship from. There are many associations, civic or religious groups that provide money for scholarships. When you have found a scholarship that you are qualified for, you should start right away with the submission process. Most scholarships have strict deadlines for application and can only grant the aid to a limited number of students.
Grants are based on financial need. There are federal, state and college grant programs for qualified students. To find more information on grants and to see if you are eligible for a federal grant.