Scholarships are something that all aspiring students look to win. They help make students’ dreams of going abroad come true. They provide financial aid and are especially those who need the funds to make it abroad.

This helps ensure that the deserving students do not miss the opportunity of fulfilling their potential by pursuing further studies. There are thousands of students who lookout to win scholarships every year.

What is a scholarship?

Scholarships are amounts that are awarded to the students for performing well academically. This amount can be directly transferred to the student’s name or can go to the school of the student. This amount then serves as the student’s payment for the school’s services. Based on the extent of the expenses that the scholarship amount covers, or in some cases exceeds, the difference is then settled by the school and the student.

Type of scholarships

Full scholarship

This scholarship includes paying the entire expenses of what the students incur, like the entire tuition fees, their living expenses, study material, etc.

Partial scholarship

A partial scholarship includes only paying the tuition fees of the student. Even for this, the scholarship could just be paying a part of it and not the entire amount. The students will have to arrange their own sources from where they would get the funds to cover other expenses.

Eligibility of US scholarships

To be able to get a scholarship, there are certain criteria that you have to first clear.
The candidate should have a good language score in tests like TOEFL, IELTS, GRE, and GMAT.
They should have a strong resume.
All records of their previous academic performances like mark sheets and certificates.
Although not mandatory for all scholarships, the applicant should have a collection of his sample work.
The candidate needs to have a letter of recommendation, this can either be from the workplace or his university.

Paying off a student loan with a scholarship

An unconventional method, but an extremely smart step to take. Scholarships are amounts given to you so that it helps you lighten the burden of your study expenses. But it is not a loan which needs to be repaid, and hence you can use this money anywhere you like.

As you know, funding your education studying US university will obviously require you to save money when the repayment period of the loan starts. This is going to be after you finish the course and graduate. So while it is usually said that this money should be used for funding your education, using this amount to help clear off your future debt is always a good option.

We hope this article has helped you learn about the efficient ways in which you can use a US scholarship, all the best!