Merit-based scholarships are a popular form of financial aid awarded to students based on academic, artistic, athletic, or other types of achievement. Unlike need-based scholarships, which focus on the applicant’s financial situation, merit-based scholarships recognize accomplishments and abilities, often covering a significant portion of college costs. Here’s everything you need to know about merit-based scholarships to help you make the most of this valuable funding option.
What Are Merit-Based Scholarships?
Merit-based scholarships are financial awards granted to students for their skills, talents, or achievements rather than their financial needs. They are provided by colleges, universities, private organizations, foundations, and government programs. These scholarships can be awarded for:
- Academic Excellence: Strong GPA, high standardized test scores, or honors in specific subjects.
- Extracurricular Involvement: Leadership roles in clubs, community service, or specific talents such as public speaking.
- Athletic Ability: Outstanding performance in a sport, often leading to scholarships from colleges with strong athletic programs.
- Artistic Talent: Skills in art, music, dance, theater, or other creative fields.
Merit-based scholarships can range from small awards that help with books and supplies to full scholarships that cover tuition, fees, and sometimes even room and board.