Scholarships and awards are prestigious opportunities that recognize and reward students’ exceptional achievements and potential. These programs offer financial assistance, recognition, and valuable experiences to deserving individuals.
There are always students in need of financial assistance to help them achieve their academic objectives and the availability of scholarships, grants, awards, and loans to support these students can be limited depending on their home country.
You may have encountered the terms “scholarship” and “award” together, but it’s important to note that they are not interchangeable. While they are related, they have distinct meanings and purposes. Therefore, this piece will provide a better explanation about the terms.
What Are Scholarships?
This is the most popular financial aid program available to students who are from developing countries, students who are low-income earners, or other types of students who have distinctive academic or athletic traits.
Oftentimes, scholarships don’t come easily, and this is because of the large number of individuals competing to receive the financial rewards enclosed in a scholarship program. Scholarships can be awarded at the entry-level or to students who are already enrolled in the institution of learning.
To maintain their scholarships and continue receiving the associated rewards, students must fulfill the conditions established by the scholarship founders. These conditions often include meeting grade requirements and other specified criteria. By consistently meeting these conditions, students can ensure the continuation of their scholarships and the benefits they provide.
What is an Award?
Awards are a mode of certification given to students or people who possess some exemplary characteristics. In some cases, awards can be given at schools to high-performing students, or issued to distinctive personnel in an organization.
The selection criteria for each type of award program vary from each other. For instance, the requirements for receiving a sporting award may be different from academic awards.
Winning an award does not guarantee a financial reward, awards are primarily for recognition purposes and may offer other types of benefits such as honor, free stationeries, gifts, etc.
What Are The Differences Between Scholarships And Awards?
Application:
Application for an award is not considered necessary because eligible students or personnel will automatically be selected after their previous achievements have been reviewed. Meanwhile, most scholarship programs require students to fill out some documents.
Continuity:
In most cases, there exists continuity in scholarship programs as long as students meet the minimum requirements, unlike awards that are only issued once.
Limitations:
Awards are given to students who are outstanding in their academics or have exceptional moral or ethical qualities. On the other hand, scholarships can be obtained by any student who has leadership skills, academic skills, and other standards as set by Sponsors.
In conclusion, scholarships and awards are similarly alike, but what differentiates them from each other is the application process as well as the limitations.
