What Are the Different Types of Scholarships?

The cost of college is constantly on the rise, which is why many people start budgeting years in advance—or end up with tens of thousands of dollars in student loan debt! Ideally, you’d get a full-ride scholarship like those talented athletes or class valedictorians. But is that really an option for the average student? The answer may surprise you.

Someone sitting outside on a wooden path studying on a laptop.

Our short guide explains different types of scholarships, so you can start looking and applying for one that’s right for you.

Academic scholarships. One of the most commonly sought-after scholarships is an academic scholarship. High school students can usually tell early if they’re on track to qualify for an academic scholarship, as it’s based on your academic performance and can cover some or all of your cost of attendance.

All your ideas in one place

Keep your thoughts, content, and lists handy with OneNote

Learn more

Even if you weren’t a star student coming out of high school, you can still earn an academic scholarship. That’s because the decision-makers may look beyond just grades to award financial aid. Additional factors like community involvement, leadership positions, test scores, art, music, and sports can all be considered when it comes to handing out scholarships.

A top down view of someone using a trackpad on a laptop atop a small desk.

Athletic scholarships. Student-athletes who excel at their sport can be awarded scholarships that will cover everything from tuition and housing, to food and books. However, student-athletes need to consider the likelihood of receiving a full scholarship. Division I schools, which are some of the biggest and most expensive in the country, will give full scholarships for bigger or more popular sports (like football and basketball) than others. Division II schools are more likely to give partial scholarships for even the best athletes. Students who attend Division III schools won’t have athletic scholarships available at all, but the athletic program can often help student-athletes get merit- or need-based financial aid.

Activity-based scholarships. Those who don’t play sports will still have plenty of opportunities to get scholarships via their extracurricular activities. Those who enjoy artistic activities like dance, drawing, or painting, for example, may find scholarships through various colleges, or through private or non-profit organizations.

First-generation college student scholarships. Colleges understand that getting into school is harder for some than for others. Some students have the full support of their parents, who help them with their applications and essays and then will send them across the country for a campus tour. Unfortunately, this isn’t the case for everyone. Whether students are dealing with financial instability that makes it difficult to afford college applications, or a lack of support to go to college, there are scholarships to help. First-generation college students can apply for scholarships to help ease the financial burden of attending school and establish a trend of seeking higher education in their families.

“Ideally, you’d get a full-ride scholarship like those talented athletes or class valedictorians. But is that really an option for the average student? The answer may surprise you.”

Identity-based scholarships. Some industries and fields tend to be somewhat homogenous regarding representation. Part of this is because of hiring practices, while sometimes it’s accessibility and inclusion for underrepresented groups. Identity-based scholarships are available to encourage students from specific ethnic and cultural backgrounds, part of the LGBTQ+ community, learning differences, or physical limitations. Many identity-based scholarships will include a GPA requirement or be offered in a specific field of study.

Need-based scholarships. A need-based scholarship is meant to help students from a home with a household income below a specified threshold. In addition to financial requirements, most scholarships will require students to meet a GPA requirement, participate in extracurricular activities, and show leadership in some aspect of their life.

Need-based scholarships. Certain fields will offer students scholarships as an incentive to study a particular subject. For instance, an aerospace company might give a school some scholarships for physics students, a newspaper could give scholarships to journalism or creative writing students, and so forth. Consider your field of study and ask a guidance counselor in your major about opportunities to apply for available scholarships in your field.

Other scholarships. We can’t highlight all types of scholarships available because we could sit here all day—but you can find scholarships for people re-entering the workforce, working parents, and beyond. Look around, ask your guidance counselor, and speak to the financial aid department to learn more about available scholarships you might be eligible for.

There are so many different types of scholarships available that all students should be searching for them. Be sure to learn more about college grants, as well. The only thing holding you back from finding the right option is your imagination and taking the time to get it done.