Scholarships are a common form of financial aid

Similar to grants, scholarships are sources of funding (or other promised aid) gifted to students to pursue their graduate or undergraduate education—no repayment necessary. While college scholarships are granted for a variety of reasons, the most common are student merit, financial need, athleticism, ethnicity and field of study. Although scholarships do not need to be repaid, some are awarded with certain stipulations (such as enrolling in a particular field of study or working with a certain organization).

Like grants, scholarships are money that is given by governments, foundations and non-profit organizations. One of the main differences between scholarships and grants is that scholarships tend to have more rigid requirements for selection, and are typically targeted towards those going to college. Scholarships will require students to meet certain requirements, both before and after they've obtained it, while grants vary widely in their requirements, amounts and expectations. Plus they can be given under a variety of different circumstances.

To find scholarships, visit this US Department of Education website to search and browse for scholarships by category or discipline.