A scholarship is a financial aid reward given to a student to help them further their education. Scholarships are given out based on a variety of criteria, most of which reflect the donor's or award's founder's views and goals. Scholarship money does not have to be repaid. Scholarships help students with low financial resources attain a good education. Scholarships are not usually in the form of financial assistance. Scholarships come in a variety of shapes and sizes.

Scholarship payments vary and might range from a few thousand rupees to full tuition, housing, and board, as well as travel. Some well-known categories of study abroad scholarships are as follows:

Merit-Base Scholarships

A merit-based scholarship is an award provided to students who have excelled academically. It is fully based on your academic, athletic, leadership, community service, artistic, or other specific interests rather than your financial necessity. The main goal of these prizes is to recognise and reward talent in these various sectors while also allowing them to continue their study.

Student-Specific Scholarships

Student Specific Scholarships are grants available to students who are attending, returning or just starting college or university. There are many different types of grants available to a whole variety of different students. However, they can be split into two different groups; need based grants and merit based grants. Need based grants are grants which require an application, but are awarded to students who match their descriptions or ‘needs’. Whereas merit based grants are awarded to students based on academics or extra-curricular activities.

Need-Based Scholarships

Need-based scholarships, as the name suggests, are given to students from financially disadvantaged backgrounds. Candidates are given these scholarships to allow them to finish their study despite not being able to meet the financial requirements. Students get need-based financial aid in the form of grants, and it should be the goal of every candidate to maximise this type of aid before pursuing other forms of assistance or quitting.

Career / Program-Specific Scholarships

Career-specific scholarships are ideal for potential or current graduate students who are either already members of a particular field or are returning to school for an entirely different degree but have a clear idea of where they want their career paths to lead, similar to the "Area of Study" scholarships we used to offer to high school and undergraduate students.