A tertiary education can be expensive, but if you can get a scholarship it can help to greatly reduce the financial burden, leaving you free to focus on your studies and forget about money worries.
What Is A Scholarship?
It is an award offering financial aid for students to further their education. Scholarships can come from many sources. Some are offered by the university or college while other scholarships may be granted by the government. Benefactors and private organisations as well as companies often offer scholarships for tertiary education related to their field of business. Participants will be awarded a scholarship based upon certain criteria that address the specific nature of the scholarship being offered.
How Scholarships Work
As mentioned above in order to be granted a scholarship the applicant has to adequately address certain criteria set out by the entity offering the scholarship. This criteria will differ with each type of scholarship offered and for varying fields of study. There is not usually an application fee to apply for a scholarship. Some institutions offer a round of scholarships annually, while those offered by private organisations could announce their scholarship program at any time of the year. Some scholarships offer a portion of the overall tuition fees while others may cover the entire cost of education.
Who Is Eligible For A Scholarship?
This varies greatly depending on the subject being studied, who is offering the scholarship, what the criteria is for each scholarship and whether the applicant can sufficiently meet that criteria. Often you don’t even necessarily have to be a citizen of the country you are applying for a scholarship to study in. Many governments worldwide and educational institutions offer scholarships to international students wishing to study abroad, and government grants can be great ways to enter university with a scholarship.
Is It Easy To Get A Scholarship?
The honest answer is no, or everybody would be getting awarded a scholarship. The truth is, there are only so many scholarships on offer each year, and there are way more applicants than there are scholarships awarded. But if you are good at what you do, know what you want, can find a scholarship where you are confident you address the key selection criteria, then there is every chance you will be awarded a scholarship. You will likely be asked to jump through quite a few hoops during the application and selection process, but it can be well worth the effort if you land one. Like anything in life it can be a bit of a lucky dip, but unless you try and actually apply, then obviously you will never be granted a scholarship.
How Much Is A Scholarship Worth?
Once again this can vary greatly, with some scholarships ranging from a thousand dollars up into the tens of thousands. It really depends on who is offering the scholarship, for how long, and for what field of study. Generally the more lucrative the scholarship deal, the more competition there will be to get that scholarship and probably the tougher the selection process will be. It really depends on how badly you want a scholarship as to how much effort you will be willing to put in to be accepted for one.
Where To Find A Scholarship
The best way is to search for scholarships that are available for your chosen field of study. For example you might be majoring in accounting or finance, so search for finance scholarships. Do a search online to get an overview of what is available. Search the websites of colleges and universities, as well as government websites where they lists grants for various fields of study.