View random article

What Is a Need Based Scholarship?

These days, it can be quite difficult to get a job without a degree. Considering all other factors, it is really not a surprise that a large number of students want to go to college or university. There is, however, the issue of the rising costs of getting a degree. One option that many students turn to is to get a scholarship. There are many kinds of scholarships, each of them having their own requirements for admission. One specific kind, a need based scholarship, caters to those who are in financial need, but are otherwise qualified to pursue higher education.

Need based scholarships can be granted by any entity who has the desire to help deserving students. Often, though, this kind of scholarship is offered by private institutions, non-profit organizations, and philanthropists. In some cases, public institutions also offer need based scholarships.

The main requirement to qualify for a need based scholarship is that the student is unable to afford to pay for a college education on his own. However, many need based scholarship programs also take into account other factors such as the academic performance of the candidate. Each program will definitely have specific requirements for qualification.

The benefits coming from a need based scholarship program will also depend on the specific endowment. Since the whole concept is based on a person who has need of financial assistance, however, this kind of scholarship usually has generous provisions. Tuition may be covered in full or partially; there may be allowance for board and lodging, books, and transportation; and there may be other costs covered.

Featured in Education