What is the difference between scholarships and awards

Awards are not always financial! They can also come in the form of books, conference or membership registrations, or even school supplies for the coming semester. The biggest things to remember when looking at scholarship and award requirements is just to apply to them all!

Every institution in Canada has thousands of dollars every year in scholarships and awards that go unclaimed because no one applies. Don't just look at the dollar amount, as of course, the larger the amount, the more people will apply, meaning competition can be stiff.

The smaller award totals are often overlooked. Do not worry if you think you only have the minimum requirements. Forget that. Apply to everything!

To apply for federal student aid, click here. This type of aid consists of federal grants and loans. Depending on the type of aid you receive, you may not need to pay back the aid. However, if you take out federal student loans you will need to pay back the money. Scholarships fall under the financial aid family. Both financial aid and scholarships play a huge role in helping students pay for their college education.

This award is given based on some sort of excellence — be it academic, sporting or other talent. The award is usually a reduction in tuition fees , or extra money to assist with living costs and can be awarded to a superb saxophone player or fantastic footballer. Most universities will have their preference as to what kind of scholarships they offer, for instance a university with a good track record on the field would rather offer a scholarship to a sportsman than someone with straight 'As' in Chemistry.

Here's a quick breakdown of these types of funding. What is a Scholarship? Traditionally, scholarships are based on academic merit. For example, entrance scholarships are based on your grades in high school. Modern usage of the word, though, is far less specialized.

Many providers of non-academic awards use the term to describe any financial prize for education. Application procedures vary by scholarship, but often include a request for your grades so the administrator can assess your academic credentials. Some awards, marked "automatic consideration," don't require an application at all! What is a Bursary? Bursaries are based on financial need. They may also have academic requirements, but their main purpose is to support students without the means to afford school otherwise.

What is a Loan? Student loans make up a big proportion of student aid.