A scholarship is a financial award (money) given to a student to help pay for their education. Scholarships can be given (awarded) for many reasons including the following:
- Community involvement – volunteering, charitable giving, advocacy, and community development
- Academic achievement – earn positive feedback from instructors, you can conduct your own research, earn high grades in your classes, completion rates, earn awards and recognition,
- Financial need
- Artistic talent
- Athletic ability
Who provides Scholarships
Scholarships may be provided by a variety of organizations which include:
- colleges and universities
- private foundations
- corporations
- government agencies
- non-profit organizations
Can a scholarship cover all my tuition fees?
It depends. Scholarships may cover all or a portion of a student’s tuition and fees, books and supplies, and/or living expenses.
How often are scholarships given (awarded)?
Scholarships may be given (awarded) as a one-time payment or more than once (renewable) over multiple years, depending on the rules and guidelines (terms and conditions) of the scholarship.
Do Scholarships have to be repaid?
No. In most cases, unlike loans, as long as you complete your course or program, scholarships do not have to be repaid
What is the benefit of a Scholarship?
Some benefits of scholarships include:
- Financial Support – helping to ease the financial burden on students and their families and enable them to focus more on their education.
- Reduced student debt – helps you reduce the amount of debt you take on
- Recognition and Prestige – Receiving a scholarship can be a recognition of a student’s hard work and achievements that can be valuable when applying for jobs or graduate school programs.
- Networking Opportunities – Scholarships may offer a chance to meet new people (networking opportunities) that can be valuable for students
- Personal Development – The process of applying for scholarships can help students develop important skills such as writing, communication, and time management. Additionally, the experience of receiving a scholarship can boost a student’s confidence and motivation.
- Increased Career Opportunities – Scholarships may open up new career opportunities for students, particularly if the scholarship is focused on a particular field or industry. Scholarship recipients may be more attractive to potential employers who recognize the value of a scholarship and the skills and qualities it represents.
Where can I find Scholarships in Canada?
Scholarships can be found on the Government of Canada’s website, private organizations’ websites, Schools’ and other educational institutions’ websites.
In summary, money offered to students in the form of scholarships can provide significant benefits to students, including financial support, reduced debt, recognition, and prestige, networking opportunities, personal development, increased career opportunities, and overall reduction of stress resulting from limited financial resources.