A scholarship is an award of access to an institution, or a financial aid award for an individual student scholar, for the purpose of furthering their education. Scholarships are awarded based on a range of criteria which usually reflect the values and purposes of the donor or founder of the award. Types Scholarships may be classified into the following primary groups. Merit: This is financial aid for which financial need isn't used to determine the recipient. The recipient may be determined b… (More on Scholarship)