Higher education is becoming more and more expensive these days. College tuition, books, living expenses—all of these add up to the total cost of education that many families cannot afford alone. Financial aid becomes even more important at such times. But there are different types of financial aid. Some are given on the basis of need (Need-Based Aid) and some are given solely on the basis of your hard work, ability and achievements. This second type is called Merit-Based Financial Aid.
This aid is given to students who have proven their hard work and talent in any field—whether it is academics, sports, arts, community service or a special field. Basically, it is a way for colleges and institutions to say, “You have worked hard, you deserve this opportunity, and we want to make the path to your dreams easy.”
Let us now understand in detail the basis on which merit-based financial aid can be availed and how students can prepare to get it.
Academics: Reward for Good Studies
The first and biggest basis is academic performance, i.e. your studies and marks. If you have consistently scored good grades during your school days, it will not only help in getting admission in college but can also get you many types of scholarships.
High GPA and Good Test Scores
Suppose a student has a GPA of 9.5 and has also scored good marks in tests like SAT or ACT, then many universities will offer merit-based scholarships for her.
Class Rank and Being a Topper
Many institutes reward students who are toppers in their class.
Importance of Consistent Hard Work
You build a reliable profile not just by scoring good marks for one or two years, but by consistent hard work.
For example, imagine a student Aarav who consistently scored above 90% marks every year. Not only did she get admission to college easily, she also got a merit scholarship of 50% on her tuition fees.
Extracurricular Activities: Hard Work Outside the Classroom
Education today is not just limited to books and classrooms. Colleges and institutes want to see what you do apart from studies.
Sports
If you are a district or state level athlete, you can get a sports scholarship.
Music and Arts
Scholarships are also available for students who show special talent in music, dance, painting, theatre.
Clubs and Societies
Active participation in debate, science club, robotics or drama troupe in school also shows your hard work and leadership skills.
Community Service
Many institutes appreciate students who give time and effort to society. Suppose a student, Ananya, taught every week at an orphanage in her city. Such service not only strengthens the personality but also opens the way to merit-based scholarships.
The important thing to note here is to focus more on quality, not quantity. That is, instead of getting enrolled in ten clubs, it is better to be involved wholeheartedly in two-three activities and contribute continuously.
Demographics: Identity is Also a Strength
Sometimes you get scholarships only because you come from a specific community, religion or situation.
Ethnic or Racial Minorities
For example, in America, there are special scholarships for African-American, Hispanic or Asian students. In India too, many institutions provide assistance to students from Scheduled Castes, Tribes and Other Backward Classes.
On Religious Grounds
Many trusts and organizations provide scholarships to students who follow a particular religion.
Disability or Health Related Conditions
Special assistance schemes are also available for students who have physical challenges.
Special Hobbies and Interests
Sometimes students with very unique hobbies also get assistance. For example, chess, ornithology, or the study of rare languages.
All this proves that every student has a unique identity, and sometimes that identity opens doors of opportunity for him.
Majors: Your Career Choice Also Matters
If you have already decided which subject you want to pursue a career in, then this can also help you.
Engineering
Mechanical, chemical, civil or electrical—all these have many scholarship programs because of the high demand.
Medical and Healthcare
There are also many opportunities for students studying medicine, nursing or pharmacy.
Communication and Arts
Fields like journalism, media, broadcasting and literature also have institutions offering special scholarships.
Emerging Fields
New scholarship schemes are being started in areas like artificial intelligence, data science, cyber security.
Suppose a student Siddharth has decided that he wants to study environmental science. Many universities and NGOs are working on environmental conservation and want to help such students. Choosing a subject in this way can also bring financial support for you.
How to Increase Your Chances
It is not enough to just know that scholarships are available. What is important is that you prepare well at the right time.
- Focus on getting good marks right from high school.
- Get involved wholeheartedly in any activity and show consistency in it.
- Keep a record of your experiences—such as certificates, awards, or proof of community service.
- Be timely.
- Check out the websites of colleges and institutions on a regular basis.
- Take guidance from teachers and mentors as they can point out many hidden opportunities.
Conclusion
Merit-based financial aid is a reward for the hard work of students. It not only reduces the financial burden but also proves that doors are always open for those who work hard.
- If you have good marks, then scholarships are for you.
- If you are active in sports, arts or community service, then scholarships are for you.
- If you come from a special background, then also there is a scholarship for you.
- If you have chosen a specific subject, then also the door of scholarship can open for you.