Scholarships are one of the best ways to finance your education. This is because these awards do not require repayment (as is the case of student loans). There are various types of scholarships that are available, each of them helping you get the money you need to cover the cost of your education.
What are Merit Scholarships?
Merit scholarships are designed for students who demonstrate excellence in academics, sports, or the arts. Getting this type of funding for education can be competitive, as the academic performance or talent of the students are thoroughly evaluated and compared with other students before awarding the scholarship. This is why if you want to get these funds, you must make sure your grades are well above average or your talent is at a high level. There are many types of merit based scholarships available, but each one could have different eligibility requirements and award amounts.
Types of Merit Scholarship Programs
Academic merit scholarships are granted by the National Merit Scholarship Corporation. There are other organizations that offer these types of awards as well. The recipients of these scholarships are chosen from over 1.5 million applications. Only 8,400 students are selected for these awards. They are funded by private funds with no government backing.
Colleges, companies and private organizations also sponsor merit scholarship programs, helping students get the much needed money to pay for school. Some schools offer scholarships to attract talented students, while companies offer scholarships in the hopes that the student will work for the company once the student graduates. In the same way, organizations may extend these funds for promotional purposes.
Finding the Best Scholarships
If you want to find the most beneficial scholarships of this type, you must explore all your options. You can contact the financial aid office at your school and check out the types of merit scholarships you can apply for. Also, you can do some research on your own to find out which funds are available in this category and how you can apply for them.