Scholarship - Definition and Overview

Note: The term "scholarship" can mean either the methods employed by scholars (see scholarly method) or an award of access to an institution and/or money for an individual for the purposes of furthering their education. This article is about the latter meaning.

A scholarship is an award of access to an institution and/or a financial aid award for an individual for the purposes of furthering their education. A scholarship is generally awarded based on any number of arbitrary criteria, including:

• financial need
• academic achievement
• athletic achievement
• public service
• nationality or ethnicity

Scholarships are generally funded by education institutions and/or non-profit foundations. In the United States of America, scholarship foundations are classified as 501(c)(3) organizations to which donations made are tax-deductible.

Scholarship awards can range from just a few dollars to full tuition. Locating scholarships can be arduous work. However, in recent years, locating scholarships has become easier due to the Internet.

Famous scholarships

• Rhodes Scholarship
• Marshall Scholarship
• Fulbright Commission
• Canada Merit Scholarship Foundation
• Canadian Millennium Scholarship
• Miss America

Other scholarships

• The Florida Lottery Bright Futures Scholarship
• Robertson Scholarship
• The George Walford International Essay Prize (http://www.gwiep.net/) (£3,500 annually)
• The New Zealand University Entrance Scholarship (website (http://www.nzqa.govt.nz/qualifications/ssq/uebs.html)) and the New Zealand Scholarship (website (http://www.nzqa.govt.nz/qualifications/ssq/scholarship/index.html)) (usually NZ$5,000 annually). These are school qualifications which also are undergraduate awards, along with the New Zealand University Bursary.
• London Business School MBA Scholarships (website (http://www.london.edu/mba/Admission/Financial_Aid/Scholarships/scholarships.html))
• FastWeb.com free scholarship search (http://www.FastWeb.com/)
• Scholarships directory for international students (http://www.InternationalScholarships.com/)
• Scholarship search service (http://www.FinancialAidOfficer.com/)

See also

• endowment
• financial aid

Example Usage of Scholarship