Scholarship

A scholarship is a form of financial aid given to students to help them pay for their education. Unlike loans, scholarships do not need to be paid back. They are usually given based on things like how well a student does in school, their background, sports skills, or how much money their family has.

Scholarships can help cover just part of the school costs, or sometimes all of them, including things like housing. The rules for keeping a scholarship can change, but often students need to keep up good grades or do certain activities, like playing on a sports team for an athletic scholarship.

Historically, scholarships started a long time ago in medieval Europe as a way to help people get an education. Today, they are very important for making sure everyone, even those from harder-to-reach places, can go to school. Some famous scholarships, like the Fulbright Scholarship and the Rhodes Scholarships, are known all over the world.

Scholarships vs. grants

Scholarships and grants are often used together, but they are not the same. Grants are given to people who need money to pay for school. Scholarships can also help with money, but they look at other things too.

Academic scholarships usually need a good grade-point average or high scores on tests like the ACT or SAT. Athletic scholarships are for students who are very good at sports and help schools build strong teams. Merit scholarships can be for many reasons, like doing well in a subject, being in a club, or helping the community.

A federal Pell Grant is given to students who need money and are planning to get their first college degree.

Types

Further information: Classifications of scholarship

Scholarships come in many types:

• Merit-based: These are for students who are very good at school, in arts, sports, or other activities. The school usually pays these scholarships.
• Need-based: Some scholarships help students who need money to pay for school. They may use information from a form called FAFSA to decide.
• Student-specific: These scholarships are for students who meet certain personal qualifications.
• Group-specific: Some scholarships are only for certain groups of people.
• Career-specific: These scholarships are for students who want to study a particular subject, like nursing or education.
• College-specific: Schools give these to students who are very smart and have done well in school and other activities.
• Athletic: These scholarships are for students who are very good at a sport. The school often gives these so the student can play for the school’s team.
• Brand: Companies sometimes offer scholarships to support a special cause.
• Creative contest: Students can win these scholarships by submitting creative projects or ideas.
• "Last dollar": These scholarships help pay any remaining school costs after all other financial aid has been given out.
• Open: Anyone can apply for these scholarships.

History

Origins in medieval Europe

One of the earliest examples of financial help for students happened at the University of Bologna in the 1100s. Students formed groups based on where they came from and shared money to help each other pay for school. The idea of modern scholarships began in medieval Europe in the 1200s and 1300s, when rich families gave money to students. Later, this help was given to students who needed it most, as a way to show kindness and support learning.

Colonial era and early philanthropy

These traditions continued when schools began in the colonies in North America. Wealthy people helped sponsor schools and colleges. In 1643, Lady Anne Radcliffe Mowlson gave money to Harvard College to help poor students, creating one of the first formal scholarships in the United States. This started a tradition of helping students at all levels of education.

Institutional aid

In 1838, Harvard University started the Harvard Loan Program, offering loans with no interest to students who couldn’t afford school. This idea spread to other schools to help students get an education through loans. During the 1800s, there was a growing belief that supporting students would create better educated citizens and help the country grow.

Federal expansion and modernization of aid

Standardized tests changed how scholarships were given out. American universities started using tests like the Scholastic Aptitude Test (SAT) in the late 1920s, with Harvard using it in 1934 to find talented students for scholarships. After World War II, the U.S. passed the Servicemen's Readjustment Act of 1944 (G.I. Bill), which gave many veterans money to pay for school. This showed how the government could help more people get an education.

Public policy

Scholarships are important for governments and groups because they help meet goals, reduce poverty, and make education fair for everyone. When students get scholarships for higher education, it can help grow the economy and create skilled workers.

The United Nations Sustainable Development Goal 4, Quality Education, wants everyone to have fair and good education opportunities for life. Target 4.b asks for more global scholarships for students from developing countries, especially in higher education, technical and vocational education and training, and STEM education. UNESCO's Incheon Declaration says scholarships help share knowledge around the world and give more chances to learners who are left out.

As more people want to go to college and governments have limited money, some say students and families should help pay more. This means schools might charge fees and rely more on donations and scholarships. While this can help schools grow, it can also make it harder for poorer students to afford school. Scholarships are important in this situation because they help keep education open to everyone, even when public money for schools is less.

Notable scholarships

Main category: Scholarships

Name of scholarship with institution and/or sponsoring organisation

• ASEAN Scholarships: Government of Singapore
• Chevening Scholarship: Foreign & Commonwealth Office (UK)
• China Scholarship Council Scholarship: Government of China
• Commonwealth Scholarship: Commonwealth governments
• Coca-Cola Scholarship: the Coca-Cola Company
• Endeavour Awards: Government of Australia
• Erasmus Mundus: European Union
• Fulbright Scholarship
• Gates Cambridge Scholarship: Bill & Melinda Gates Foundation; University of Cambridge
• Holtzer Fellowship: Government of Germany, Harvard University
• Ibrahim Scholarships: Mo Ibrahim Foundation
• Indonesia Endowment Fund for Education/LPDP Scholarship: Government of Indonesia
• Jardine Scholarship: Jardine Matheson; Universities of Oxford and Cambridge
• King's Scholarship: Government of Thailand
• Knight-Hennessy Scholars: Stanford University
• Marshall Scholarship: UK universities
• Mitchell Scholarship: US-Ireland Alliance
• Monbukagakushō Scholarship: Government of Japan
• Morehead-Cain Scholarship: University of North Carolina
• Foundation Scholarship: Trinity College Dublin
• Rhodes Scholarship: University of Oxford
• Schwarzman Scholars: Tsinghua University
• National Level Common Entrance Examination: Edvizo