Scholarships are monetary benefits awarded to academic performers for displaying their outstanding educational caliber. They’re the magic wands that stop students’ academic dreams from shattering due to financial constraints or other personal or social obstacles.
With the current hike in educational prices, students often fail to meet their educational aspirations, especially in developing countries like India. To cope with this, the government, public and personal organizations keep launching several scholarship strategies. However, with myths being more acceptable than reality, students miss out on the opportunities to obtain lucrative scholarships.
There are many misconceptions about scholarships that often deprive students of the benefits they can gain from government-offered financial aid. Many people believe scholarships are quite limited. But on the contrary, there are abundant scholarships available in India. Numerous government and independent bodies offer a variety of scholarships to students every year. And they are not limited to merit only. A number of other factors come into play to decide who gets awarded with which kind of financial aid from such bodies.
In this article, we will discuss a few different types of scholarships available for students in India. This should help you keep an eye out for the ones that are perfect for you.
What factors are scholarships granted on?
1. Means-based scholarships
These scholarships are usually granted to students who don’t have the required backing to pursue education. They’re awarded to the scholars clearing a required cutoff score.
2. Merit-based scholarships
As the name suggests, merit-based scholarships are granted to students who perform exceptionally well in their respective educational institutions. Scholarships from this class are sometimes not restricted to students from any particular section of the society. Anyone with the specified marks is eligible to apply.
3. Need-based scholarships
Need-based scholarships are offered to students with physical disabilities. Most scholarships under this category are offered by the government to students of classes IX-X and classes XI to master’s degrees.
4. School-level scholarships
These scholarships are awarded to students to pursue their school education. To avail of this scholarship, students sometimes need to clear some assessment tests.
5. College/ University Scholarship in India
Like school scholarships, faculty scholarships, or college/university scholarships for students are dedicated to a college or university level education. Monetary help is provided for different fields of study or different subjects.
A variety of financial aid includes tuition fees, coverage or waivers in some cases, accommodation fees/low budget hostel facility, laptops/computer facility, and supporting study material/library facility free of cost. These scholarships are granted based on a student’s performance within the qualifying exam/entrance exam of the college or university and sometimes also based on marks obtained during schooling.
To sum it up
Regardless of which type of scholarship you seeking, the best way to stay on top of opportunities is to sign up at scholarship matching portals or scholarship hunting websites. You can also stay connected with Scholad to receive timely alerts regarding all sorts of scholarships offered in India.
