Financial grants like scholarships and fellowships often provide hope to gifted students who cannot pursue higher education due to financial constraints. Such monetary assistance is usually provided by numerous governments, businesses organisations and universities across the world. However, many aspirants often do not have a clear understanding of the two major types of grants: scholarships and fellowships. These are usually considered the same since both signify financial assistance to researchers and students or anyone else intending to pursue a career in academia. The following sections will bring out the difference between scholarship and fellowship so that aspirants can make an informed choice regarding the financial program they need.
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About Scholarships
A scholarship is a monetary aid provided to deserving students in recognition of their talent and academic achievements. Scholarships help candidates to take up higher education without having to worry about the expenses associated with it. Candidates applying for these financial programs are usually required to fulfil specific eligibility criteria, which the providers determine. Most scholarships are merit-based, while some are also need-based. Unlike an education loan, a scholarship does not require repayment. Students can use it for tuition fees, living and accommodation costs, college supplies expenses and more.
About Fellowships
A fellowship is awarded to candidates who wish to pursue extensive learning in a particular discipline through research. Certain fellowships come with specific job requirements. However, other programs are similar to internships for graduate candidates. Fellowship programs help students to gain more experience and thereby strengthen their credentials. Since most fellowships are merit-based, applicants should possess considerable academic performance and professional experience.An eligible candidate will not always necessarily win award money through fellowships. Sometimes fellowships can be granted in the form of a special status in an institution providing certain privileges.
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Fellowship vs Scholarship
Although apparently similar, scholarships and fellowships are quite different from each other. A scholarship is provided to students up to the bachelor degree level. On the other hand, a fellowship is for those pursuing research works. The following tabular representation will show the difference between scholarship and fellowship:
| Parameters to differentiate | Fellowship | Scholarship |
| Coverage | It is a service opportunity or a type of internship. | It usually pays the tuition fees. Some also cover accommodation, travel and other associated expenses. |
| Time to apply | It is not available for candidates in the early stage of their academic life. | One can apply even before starting college. |
| Study level of the applicant | Fellowships are offered to students with exceptional academic performance with relevant professional experience. | It is also provided to meritorious candidates. However, professional experience is irrelevant here. |
| Purpose of the fund | Fellowship programs help scholars to undertake research on a particular discipline. | These grants help students to pursue higher education. |
| Criteria to be met | It is based primarily on academic criteria. | It is based on many requirements apart from academic performance, including sports, the financial status of a family, creative talents, etc. |
| Renewability | Fellowships are usually non-renewable. | Students can reapply for a scholarship. |
| Provider | Commercial enterprises, government bodies, universities provide fellowship programs. | Governments, schools, colleges, universities, businesses offer this grant. |
How to Apply for an Academic Financial Grant?
Merely knowing the difference between scholarship and fellowship would not be enough. One has to know the various steps that will ensure they can secure the desired grant. Here is a detailed guide on how to apply for a fellowship or scholarship:
Be Aware of Deadlines
These financial grants usually come with strict deadlines. Since obtaining a fellowship or scholarship involves various complicated steps, one has to apply for it at least a year in advance. Candidates should check the application deadline and apply accordingly.
Learn the Eligibility
Every financial program comes with a set of eligibility criteria that applicants must meet. Applicants should make sure that they comfortably meet all the requirements before applying.
Apply Carefully
The process to apply for these grants is described in detail on the official websites. Students should carefully go through each step to make sure their applications are successfully submitted. They should remember to attach the necessary documents as asked for.
Follow Guidelines To increase the chances of bagging a scholarship or fellowship, candidates have to adhere to every protocol laid down by the grantor through each stage of the application.
Be Prepared for an Interview
Most of these financial grants require shortlisted candidates to appear for an interview. These interviews are crucial in determining whether one would receive the funding. Candidates should be sufficiently prepared to face the panel with confidence.
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Classification of Scholarships and Fellowships
There are various types of scholarships and fellowships available for Indian candidates. Scholarships are of various types based on different criteria. These are mentioned below:
Scholarships Based on Grantor
Based on the institution or organisation offering the grant, scholarships are of the following types:
- Private Scholarship
- Government Scholarship
- Community Scholarship
- Educational institution scholarship
Scholarships Based on Purpose
Here are the different classes of scholarships on the basis of purpose:
- Merit-based Scholarship
- Talent-based Scholarships
- Need-based Scholarships
- Merit cum Need-based Scholarship
In the case of fellowship, there are:
- Teaching Fellowship
- Medical Fellowship
- Research Fellowship
- Fellowship for training programs
- Fellowship in the form of special memberships
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Frequently Asked Questions
1. How can I choose the best financial program?
Ans: Make sure to search for scholarships and fellowships that come with eligibility criteria that you qualify for. Moreover, determine whether the financial grant provides facilities that align with your requirements.
2. What to do if my scholarship application is rejected?
Ans: If your scholarship application gets rejected, you can apply for another. Try to look for scholarships that have less stringent eligibility requirements. With every scholarship application, you gain some experience that ultimately helps increase your chances of bagging one.
3. What are some of the essential criteria for getting a scholarship?
Ans: Candidates who have a high GPA, excellent academic performance throughout school and can demonstrate financial need are generally eligible to receive scholarships for their higher education.
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