Based upon various criteria, scholarship is an award of financial aid for a student to further his or her education. It should also be noted that scholarship awards are not required to be paid back. The criterion varies from merit based awards to need based. Generally the donor of such finances has some relation or recognized value to the recipient.
A few types of scholarship are available to prospective students; merit based Awards are for recognizable academic, artistic, athletic or other abilities often recognized in a student’s extracurricular activities. Need based scholarship are based upon a student and their families financial record. Student specific rewards can qualify through gender, race, religion and family medical history. Career specific are given to a prospective student selecting to pursue a specific field of study, often awarded for areas of economic need such as nursing or education.