TYPES OF SCHOLARSHIPS

Scholarships may be classified into two primary groups.

Merit-based - financial aid for which financial need is not used to determine the recipient. The recipient may be determined by students’ athletic, academic, artistic or other abilities. The actual monetary value of the scholarship may be negligible, the scholarship being meant to motivate the student and promote the study of the subject. However, this is not always the case and the largest scholarships are almost always merit-based.
Need-based - financial aid for which the student and family’s financial situation is a primary factor in determining the recipient. Usually such scholarship will cover all or part of the tuition and may even cover living-costs. Very often even need-based private scholarships require the awardees to be distinguished students, as the deed founding the award may include a phrase like: “for the studies of founder's favourite subject in founder's favourite institution of higher education' for a talented youths of limited means from founder's home town/county/state etc.“.
Some scholarships have a "bond" requirement, recipients may be required for a specified time to work for particular employer, to work in rural or remote areas, otherwise they may be liable to repay the cash value of the support they received during the scholarship. This was particularly the case with teacher training scholarships and currently with health and medical education scholarships for people from or prepared to work in rural and remote areas in Australia. The programs offered by the uniformed services of the United States (Army, Navy,Marine Corps, Air Force, Coast Guard, National oceanic and atmospheric administration commissioned corps, and Public Health Service Commissioned Corps) sometimes resemble such scholarships