We talk a lot on Study Work Grow about scholarships, and for a good reason – they’re a great means of support for your future, whether you need help covering costs, want access to bonus perks, or would like to grow your professional networks. But they can also be confusing at times. So in this blog we’re going to provide a brief overview of scholarships, then dive into some frequently asked questions (FAQs).
What are scholarships?
Scholarships are essentially financial gifts. They can come from various sources, such as educational institutions, private organisations, or even local businesses. You can use the money to cover a wide range of different things, from textbooks and accommodation to tuition fees and travel costs.
What benefits can scholarships give me?
Scholarships sometimes offer more than money. Here are some of the other benefits you might receive:
- Priority access to courses and accommodation
- Networking and mentorship opportunities
- Exclusive events and workshops
- Academic and career support
- Connections with industry and alumni
- Travel and exchange opportunities
- And more!
Scholarship FAQs
Now that we know a bit about what scholarships are, let’s answer some frequently asked questions (FAQs) that students often have.
Do scholarships only cover course fees?
Not necessarily – scholarships can cover various expenses, including tuition, textbooks, accommodation, and even living costs, depending on the scholarship. Always check the terms carefully to see what the money can and can’t be used for.
Is it possible to apply for multiple scholarships?
Absolutely! In fact, applying for multiple scholarships is encouraged. You’ll have a better chance of receiving one, and in some cases you can actually accept multiple scholarships (though carefully check the terms and conditions before doing so).
When should I start applying for scholarships?
We recommend you begin your scholarship search as early as the beginning of senior high school. Many scholarships have early deadlines and thorough application procedures, so it never hurts to get in early.
Can I still get a scholarship if I don’t have good grades?
Yes. Many scholarships consider a wide range of factors other than academic ability, including community involvement, leadership, financial need, disability, rurality, sporting achievements, unique talents, and more.
How competitive are scholarships typically?
It can vary widely. Some may have a large number of applicants for a limited number of awards, while others might have fewer applicants. Generally, scholarships with higher monetary values or from well-known institutions tend to be more competitive, but don’t let this discourage you from applying!
Are there scholarships for non-traditional students or adults returning to study?
Yes, there are scholarships out there specially tailored to non-traditional students and adults returning to school, making higher education accessible to a everyone.
Are there scholarships for specific fields of study?
Yes, many scholarships are targeted towards specific majors or fields of study. They often aim to encourage students to pursue careers in particular industries, so they might even include internship or work experience opportunities.
Are there scholarships specifically for students pursuing vocational or trade programs?
Absolutely. These scholarships might help to cover costs that university students don’t have, such as tools, uniforms, protective gear, and travel expenses.
Do I need to repay my scholarship if I change my major or don’t complete my degree?
It depends. It’s important to always carefully read and understand the terms of a scholarship before you accept. Some may require repayment or be cut-off if you don’t meet certain conditions, such as completing your degree within a specified time or maintaining a certain GPA.
Do I need to pay taxes on scholarship money?
In most countries, scholarship money used for tuition and other course-related expenses is tax-free. However, scholarship funds used for non-study-related costs may be taxable. If you’re unsure, it’s best to consult with a professional for advice.
Can international students apply for scholarships?
Yes, many scholarships are open to both domestic and international students. Eligibility criteria can vary, so don’t forget to review the requirements for each scholarship before you apply.
Where can I find out more about scholarships?
If you’re ready to apply, you can search for scholarship opportunities on our website here.
Still have more questions? Check out our other blogs on study and pathways options here.