A 'Scholarship' is an academic gift that a student gets from the University or any other institute or trust. They are given by different organizations or sponsors after carefully considering various aspects like academic and other talents, need for scholarship, course opted for and so on. Scholarships can be given for various purposes ranging right from a waiver in tuition fees of the University to help the students for books, travel or living expenses. If a student gets a scholarship it reduces the financial burden on the student to that extent. Scholarship is the best way to get the education funded because student doesn't have to repay it.
The different types of financial help are:
Tuition Waiver: This means that the student does not have to pay the tuition fees at the university.
Scholarship / Fellowship: This is usually an outright grant based on the student’s academic ability and performance. Hence, only a truly outstanding student may be considered for this type of award, before enrolling at the university.
Assistantship: Most students who receive assistance usually do so in the form of an assistantship, i.e. a cash stipend sufficient for their living expenses, and/or tuition waiver. This work normally consists of teaching and research activities.
