Okay, so I’m really confused about funding options for studying abroad. I’m planning on going to Florence, Italy next fall for a semester, and I’ve started looking at scholarships and grants. They both seem to give you money, but are they really the same thing? I’m mostly concerned with not having to pay back any of the funds.
Specifically, does one rely more on merit while the other is based more on financial need? Or is there a bigger difference I’m missing? I’ve seen some programs that call themselves scholarships but seem to heavily weigh need, and vice versa. And are there any types of grants that do need to be repaid? Any insight would be super helpful! Thanks!
Answer
The key difference between scholarships and grants for studying abroad lies in their basis for awarding and their typical source of funding. While both scholarships and grants provide financial aid to students pursuing education abroad, they differ significantly in the criteria used to select recipients.
Scholarships:
- Award Basis: Scholarships are primarily awarded based on merit. This merit can encompass a variety of factors, including:
- Academic Achievement: GPA, standardized test scores (SAT, ACT, GRE), class rank, honors courses, and overall academic performance are heavily weighted. Transcripts are usually required.
- Extracurricular Activities: Involvement in clubs, sports, volunteer work, leadership positions, and other activities that demonstrate commitment, skills, and personal growth.
- Skills and Talents: Exceptional skills or talents in specific areas like music, art, writing, athletics, or debate can be a basis for scholarship awards. Portfolios, performance videos, or writing samples may be requested.
- Other Achievements: Unique accomplishments, awards, recognitions, or other distinctions that set the applicant apart.
- Competition: Scholarships are generally more competitive than grants. Due to the merit-based selection process, a large pool of applicants will compete for a limited number of scholarships.
- Source of Funding: Scholarship funding can come from a diverse range of sources:
- Universities and Colleges: Many universities offer scholarships specifically for their students to study abroad, often based on academic performance or financial need.
- Private Organizations and Foundations: Numerous private organizations and foundations offer scholarships for study abroad in specific fields of study, countries, or for students with particular backgrounds.
- Corporations: Some corporations provide scholarships to students pursuing studies relevant to their industry or with an interest in working for the company after graduation.
- Government Agencies: While less common, some government agencies may offer scholarships for study abroad in certain strategic regions or for specific areas of research.
- Reporting Requirements: Scholarship providers may require periodic progress reports, such as transcripts and updates on academic performance, during the study abroad program to ensure the recipient is maintaining the standards upon which the scholarship was awarded.
- Examples: The Benjamin A. Gilman International Scholarship (focuses on diverse students with financial need), the Boren Awards (focuses on language study in critical regions), and scholarships offered by individual universities for their study abroad programs.
Grants:
- Award Basis: Grants are primarily awarded based on financial need. While merit can sometimes be a secondary consideration, the primary factor is the applicant’s demonstrated inability to afford the study abroad program without financial assistance. Factors considered include:
- Financial Need: The applicant’s and their family’s financial situation, including income, assets, and expenses. Students are often required to submit detailed financial information such as tax returns, bank statements, and financial aid award letters.
- Underrepresented Backgrounds: Grants may be specifically targeted to students from underrepresented groups (e.g., racial or ethnic minorities, first-generation college students, students with disabilities).
- Specific Program Criteria: Some grants may target students studying in specific geographic regions, pursuing particular academic disciplines, or participating in programs with a social impact component.
- Competition: While still competitive, grants may be less so than scholarships, particularly if targeted to specific demographics or program types. However, for widely available grants, the competition can be substantial.
- Source of Funding: Grants often originate from the following sources:
- Government Agencies: Government agencies at the federal, state, or local level are a common source of grant funding for study abroad programs. These grants often aim to promote international understanding, cultural exchange, and global citizenship.
- Nonprofit Organizations: Many nonprofit organizations dedicated to international education or specific causes offer grants to students studying abroad in related fields.
- Universities and Colleges: Universities may offer grants or need-based aid to students participating in their study abroad programs.
- Reporting Requirements: Grant recipients may be required to submit reports on their experience, including how the grant was used, what they learned, and any community engagement activities they participated in. Additionally, documentation verifying the grant’s application to tuition, travel, or program expenses may be required.
- Examples: The Fulbright Program (government-sponsored exchange program), the Fund for Education Abroad (FEA) scholarships, and the Pell Grant (federal grant that can be applied to eligible study abroad programs).
In summary, consider scholarships to be rewards for academic excellence, skills, or accomplishments, while grants are needs-based awards designed to make study abroad accessible to students with limited financial resources. Students should investigate both scholarship and grant opportunities to maximize their chances of receiving financial assistance. Often, students apply for both scholarships and grants.
