Types Of Scholarships You Should Know To Finance Your Education

Be it education in India or abroad, if you want to have a lifetime experience while pursuing it, you must know that it will not come cheap. No matter which course or programme you choose, many universities across the world, including India, are unfortunately expensive. In order to pursue any course in these universities, students need to support their education with additional funds that should cover both tuition fee and living expenses.

A plethora of scholarships are available for students who want to continue their education. The funds offered by the government attract many students because of their benefits. Apart from government-backed scholarships, students can also make use of the university-specific or private scholarships offered by organisations.

Compared to the student loan, scholarships are highly coveted because there is no need to pay back. As the scholarships are the most difficult to get, students need to start their research with the types of scholarships. The different types of scholarships available for students will provide an overall clarity and match the needs of a student in the application process. Here are the different types of scholarships you should know prior to applying for a course and/or programme.

Merit-based Scholarship

This is the most important scholarship offered to students based on their performance and achievement such as the percentage of marks obtained in the exam. The merit-based scholarships are offered by both government and universities. Some private organisations also offer this type of scholarship.

Student-specific Scholarship

This is a scholarship provided to those students who are underprivileged such as those belonging to scheduled caste or scheduled tribe. The aim of this scholarship is to uplift the under-represented categories. This type of scholarship is offered mainly by the government. However, some NGOs also offer this scholarship based on gender and ratio.

Need-based Scholarship

Many students not able to pursue education because of their financial situation can opt for this. The need-based scholarship is offered based on the students' economic situation. Be it government or university, this scholarship is provided only after assessing the background of a student that includes details like the income of parents, dependants and assets of the family.

Subject-specific Scholarship

The government and a few universities offer the subject-specific scholarship to encourage students to take up a particular field of study or career path. For instance, students can make use of the scholarships available only to pursue courses related to pharmacy.

University-specific Scholarship

Many universities offer a range of scholarships depending upon the above-mentioned combinations such as gender, category, economic situation and merit. Though the candidates are automatically considered for the scholarship, students are advised to go through the details meticulously because there might be a requirement of a separate application.

Miscellaneous Scholarships

Apart from the above described different types of scholarships, students may also find some scholarships based on activities such as drawing and elocution. Some organisations provide financial assistance to candidates who have stood first in a particular challenge.

Want To Study In The UK For Free? Explore The Government-backed Scholarships Want To Study In The UK For Free? Explore The Government-backed Scholarships