The world’s #1 Guide to Scholarships and Financial Aid

2.1. What are Scholarships?

Scholarships are monetary awards given to students to help pay for their education. Unlike loans, scholarships don’t need to be repaid, making them one of the most sought-after forms of funding. They’re essentially “free money” awarded based on a variety of criteria, such as academic achievement, athletic talent, artistic ability, or even unique personal traits like your heritage or hobbies. Scholarships come from many sources: colleges and universities, private companies, nonprofit organizations, community groups, and even individuals. For example, a local business might offer a $1,000 scholarship to a student in their town, while a national foundation might award $25,000 to an outstanding science student. The beauty of scholarships lies in their diversity—there’s often something out there for everyone, no matter your background or interests.