Scholarships are financial awards given to students based on academic achievement, talent, or other criteria. They do not have to be repaid and are often used to help pay for tuition and other educational expenses.
Related terms
Grants: Financial aid that is awarded based on financial need, often provided by the government or institutions.
Merit-based Aid: Financial assistance given to students based on their academic achievements, talents, or other accomplishments.
Need-based Aid: Financial support provided to students based on their demonstrated financial need.