What Are Scholarships?

A scholarship is money students apply for to help pay for post-secondary tuition, fees, and other expenses. The funds are a gift. Scholarships are important because they help you to cover the cost of college.

✨Special Note: Each year, over $100 million in scholarships go unawarded each year, mostly because there are not enough people applying.

Types of Scholarships:

There are four main types of scholarships:

• Need-Based: Scholarships that are awarded based on your family’s finances or situation.
• Merit-Based: Scholarships that are based on your achievements, talents, and abilities.
• Demographic- Based: Scholarships that are based upon your personal characteristics like your identify, location, or community.
• Experience-Based: Scholarships that are based upon your experience and/or passion.

➡️ Learn more about the Four Main Types of Scholarships

Scholarships Cover:

Scholarships cover things like:

• tuition
• transportation
• books + supplies
• dorms
• meals
• summer program

✨ Special Note: You can mix different types of scholarships; however, not all types of scholarships cover everything.

Who Gives Out Scholarships?

Examples of organizations that give out scholarships:

• universities
• churches
• student groups
• local organizations like Southeast Michigan Community Foundation
• state, federal, and local governments like Detroit Promise
• local businesses like credit unions
• jobs like Burger King, Taco Bell, Panera
• your parents and grandparent jobs

✨ Special Note: It is important that you look for scholarships outside of the university and the government. For example, many colleges increase the cost of attending college by a small percentage, which can impact the cost of going to the college. Scholarships help cover the cost.

Conclusion:

There are scholarships EVERYWHERE! Take time this week to learn about organizations that give out scholarships near you.