- an amount of money given by a school, college, university or other organization to pay for the studies of a person
- a sum of money awarded to finance a particular activity or facility
The first definition refers to the word „scholarship”, while the second to the word „grant”. Both words are types of awards given by organizations to help pursue one’s education or career. The money is awarded based on a range of criteria which reflect the values and purposes of the donor.
There are different types of scholarships. The most common are:
- merit-based – for students who have exceptionally high grades