- Merit: The recipient may be determined by students’ athletic, academic, artistic or other abilities. The monetary value may be negligible, if the scholarship is meant to motivate the student and promote the study of the subject. The largest scholarships are usually merit-based.
- Need: This is financial aid for which the student and family’s financial situation is a primary factor. Usually such scholarships cover all or part of tuition and perhaps living costs. Often need-based private scholarships require the awardees to be distinguished students, as the founding deed may include a phrases such as "for the studies of founder's favourite subject in founder's favourite institution of higher education for a talented youths of limited means from founder's home town or county or state".
- Sociology: This is financial aid where applicants must initially qualify by race, religion, or national origin. After filtering the applicants based on their ethnicity, additional factors are taken into consideration to determine the final recipients.
- Institutional: These are scholarships awarded by a specific college or university (institution) to a student planning to attend that institution.
- General: Scholarships may be for reasons of the student's association with the objectives of the sponsoring organization. For example, some corporations give scholarships to their employees' children or based upon academic success.
Colleges and Scholarship