Are There 2 Types of Scholarships for College Students?

I heard that there are mainly 2 types of scholarships, and I'm curious about what they are and how they differ. Is this true? How should I approach applying for each?

Yes, you're correct. Scholarships can often be grouped into two main categories: merit-based and need-based.

Merit-based scholarships are typically awarded to students based on their accomplishments, abilities, or talents. These might range from academic achievements, athletic skills, artistic talents, leadership, or community involvement, among others. When applying for merit-based scholarships, you must highlight your strengths in the specific area the scholarship is targeting. For example, if you're applying for an academic scholarship, you might talk about your GPA, challenging coursework, and other related accomplishments. For an athletic scholarship, you'd discuss your sports achievements and commitment.

Need-based scholarships, on the other hand, are awarded to students primarily based on their financial situation. These scholarships aim to help students who might not be able to afford college otherwise. They consider the family's income, assets, and the number of dependents in the household. When applying for a need-based scholarship, you're often required to provide this financial information, often in the form of a completed FAFSA or other similar document.

The approach for each can be quite different. For merit-based scholarships, it would be smart to curate your application to feature your accomplishments in the scholarship's focus area. With need-based scholarships, demonstrating financial need is the essential piece—you'll need to ensure you've thoroughly and accurately completed any financial documentation required.

In both cases, it's also strongly recommended to apply to as many scholarships as you can reasonably manage. The more scholarships you apply to, the greater your chances of securing one—or even several—of them. Just ensure you're eligible before starting the application process so you don't waste effort on a scholarship you aren't qualified for.

Always remember to keep an eye out for deadlines and ensure your applications are done carefully and to the best of your ability.