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- Need-based scholarships are awarded based on financial need. They're available for each year of college enrollment. By contrast, scholarships based on merit are granted to students who illustrate academic or athletic achievement, along with a range of other talents and criteria.
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What is a merit scholarship?
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What is the difference between need based and merit aid?
Apr 16, 2024 · Key Takeaways. Merit-based aid is provided to you based on your achievements and interests. There are several different types of merit-based aid such as academic and athletic scholarships along with scholarships by skill. Need-based aid is dependent on your financial circumstances.
Dec 29, 2023 · Merit Aid vs. Need-Based Aid: What’s the Difference? Merit scholarships and need-based scholarships have different requirements for eligibility. Need-based aid looks at the financial need of the student's family, considering their income, assets, and overall financial situation.
May 22, 2024 · This article will explore three main types of financial aid: merit scholarships, need-based financial aid, and private scholarships. 1. Merit Scholarships. Merit scholarships are awarded to students based on their academic, artistic, athletic, or other achievements.
- What’s Covered
- What Are Need-Based Scholarships?
- What Are Merit-Based Scholarships?
Need-based scholarships are awarded to students based on their financial means. Often, they are awarded automatically as a part of a financial aid package. When a student applies to college, they submit something called the FAFSA or “Free Application for Federal Student Aid”. This is a way of calculating the financial support a student will need to...
Merit-based scholarshipsare different from need-based scholarships because they’re awarded based on accomplishments and achievements. The achievements that determine these scholarships can be in a lot of different areas. There are academic achievements, like your GPA or test scores. There are also athletic achievements and athletic or recruiting sc...
Oct 8, 2024 · Merit-based scholarships are awards given to students based on their individual achievements, rather than on financial need. While the term "merit" usually makes people think of academic achievement—which is indeed a huge factor—it involves more than just good grades or high test scores.
Apr 26, 2023 · Merit aid is a form of college financial aid that does not consider a student's financial need, but rather is awarded based on academic, athletic, artistic,...
Nov 28, 2023 · Merit-based scholarships reward academic or extracurricular achievements, while need-based scholarships are awarded based on financial need. International scholarships support students studying abroad, and those for underrepresented groups aim to promote diversity.
