Money that is awarded to qualified students who are chosen as recipients based on certain accomplishments, characteristics, skills and/or abilities they possess. There are all types of educational scholarships available, including those set aside for disadvantaged students. Other common types of scholarship funds are given for good grades and for participating in extracurricular activities. Scholarships are very special awards to receive, and like grants, they do not have to be paid back.
Awards given to students by federal and state governments, colleges, businesses, and community groups, usually on the basis of academic achievement, talent, or group membership.
Certificates of a designated dollar value that are applied toward tuition and/or fees at a public or private school. Also called vouchers, tuition scholarships, or opportunity scholarships.