A scholarship is money or support given to help pay for education. Unlike a loan, a scholarship usually does not need to be repaid as long as the recipient follows the rules of the award.
Why scholarships are awarded
Scholarships may be based on grades, financial need, leadership, sports, art, community service, career goals, identity, location, or a field of study. Some are small awards, while others cover large costs.
Scholarship versus grant
A grant is also funding that often does not require repayment, but grants are commonly tied to need, programs, research, institutions, or public funding rules.
A scholarship can make education more affordable, but students should always read eligibility, renewal, and deadline details carefully.