Scholarships and Fellowships
Scholarships and Fellowships, grants given to students or other individuals for educational purposes. These awards may be given in cash or in the form of credit to be applied toward payment of educational costs. They do not involve repayment. (Funds in the form of long-term, low-interest loans are also available. Colleges, the federal government, state governments, and various private groups offer these loans to both undergraduates and graduates, usually on the basis of need and academic promise.)
Generally, the term scholarship refers to a grant to a student who is below the college graduate level; a fellowship is a grant to a graduate student or other scholar for advanced study. A few graduate-level awards, however, are called scholarships; the Fulbright scholarships are an example.
Thousands of scholarships and fellowships, totaling millions of dollars, are awarded annually in the United States. The principal sources of these funds are colleges and universities, government agencies, business and industrial concerns, foundations, and private organizations and individuals. Most scholarships and fellowships are awarded on the basis of high academic achievement, good character, and financial need; some are granted through competitive examination.
Scholarships vary widely in monetary value. Some pay the student's entire expenses, including tuition, room and board, books, and other fees. Others cover only certain costs, such as tuition. Scholarships may be granted for one school year or for an entire school career. In some cases, students who receive scholarships are expected to perform certain duties in return, such as working in school laboratories, libraries, or residence halls.
Many scholarships are awarded, without further qualification, to capable and needy students. National Merit scholarships are an example. Some scholarships, however, have additional prerequisites or requirements pertaining to such matters as course of study, geographical residence, school, ancestry, or religious affiliation. Special scholarships are often available to students who qualify as outstanding athletes.
Fellowships, like scholarships, vary in value from those that cover only tuition to those that cover all expenses. They usually are given to gifted students or faculty members to do advanced study or to engage in research. Such awards are also made to artists or writers to enable them to work on creative projects. The person receiving the grant is generally called a fellow. Fellows who are graduate students are sometimes required to do part-time teaching or give other academic service.
Information on scholarship, fellowship, and loan opportunities and requirements can be obtained from high school teachers, counselors, and principals; college scholarship committees; state departments of education; and professional guidance agencies or placement bureaus, such as the College Scholarship Service (Princeton, New Jersey, and Los Angeles, California).