What is a Scholarship? A Complete Beginner's Guide
A scholarship is money awarded to a student to support education — and unlike a loan, you never pay it back. Here's everything a first-time applicant needs to know.
The simple definition
A scholarship is a financial award given to a student based on criteria such as academic merit, financial need, identity, talent, or field of study. It does not need to be repaid.
Common types
Merit-based, need-based, athletic, identity-based (minority, first-generation, women in STEM), subject-based, and institutional (offered by a specific university).
Scholarships vs. grants vs. loans
Scholarships are usually merit- or identity-based. Grants are usually need-based (think FAFSA / Pell Grant). Loans must be repaid with interest. Only loans cost you money later.
Who can apply
High school seniors, undergraduates, graduate students, international students, returning adult learners — there's a scholarship for almost every profile.
How to find them
Use trusted aggregators (like LetmeSpread), your university's financial aid office, employers, religious or community organizations, and professional associations in your field.
Ready to apply?
Browse hundreds of scholarships currently open for applications on LetmeSpread.
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