A merit based scholarship can lower the cost of tuition significantly, but what does it take to earn one – and how can you improve your chances?
What Are Merit Based Scholarships?
Merit based scholarships are a form of aid gifted to students not based on financial need but, instead, on their achievements.
Colleges and universities, nonprofit and private organizations, and individuals will offer them, and you do not need to pay back the money awarded.
Types of merit scholarships include:
- Academic scholarships: Students may receive an academic scholarship if they have a strong GPA, score well on the SAT or ACT, or rank high in their graduating class.
- Athletic scholarships: Those who excel in a sport could be recruited for an athletic scholarship, which provides funding for a student’s education in exchange for them participating in and representing an institution’s team.
- Leadership scholarships: Students that are recognized for their initiative within an organization – on or off campus – may receive a leadership scholarship for those efforts.
- Service scholarships: Active volunteers who consistently give back to their community could qualify for a service scholarship.
- Artistic scholarships: Those with exceptional talent in the creative and performing arts could get an artistic scholarship for their abilities.
- Demographic scholarships: Students who belong to a specific ethnic, gender, religious, or other underrepresented population can earn a demographic scholarship to promote access to and diversity in higher education.
How to get a merit based scholarship?
Merit based scholarships are competitive. To receive one, you should:
- Enroll in challenging courses, which boost your GPA and demonstrate ambition.
- Prepare for standardized tests to ensure you achieve the best score.
- Commit to a few extracurricular activities and excel in them, rather than stretch yourself thin and be average in numerous ones.
Pay attention to application requirements and deadlines too. Some merit based scholarships ask you to submit a portfolio, write an interview, or complete an interview.
Other Ways to Save Money on Tuition
You can save more money on your education by:
- Completing the Free Application for Federal Student Aid
- Take college courses through an accredited online institution, such as Portage Learning, or a community college
- Pick up a side hustle or a part-time job
