There are plenty of financial aid opportunities available to students. Each grant, scholarship, and fellowship have different definitions, applications, and requirements to sort through. Even the most collected students cringe at award descriptions. Award classifications vary from one provider to the next so it is easy to get lost, but do not let all the rules and requirements scare you away from applying.
Most awards are worth thousands of dollars, more than any summer job. Fellowships are the most lucrative type of financial aid. Giving fellowship applications extra attention will pay off. Start with the basics: check out the fellowship information below.
Who
Fellowships are mostly for graduate students, but there are a few undergraduate fellowships. Most graduate fellowships are for doctoral students because those costs are the highest, and Ph.D. programs take up to eight years to complete.
What
Fellowships are merit-based scholarships. Common fellowship requirements include graduate research work, participation in projects, and exceptional merit proofs. Some schools categorize undergraduate teaching opportunities as fellowships, but most consider them assistantships.
When
A.S.A.P. Most fellowships are designated by the school’s available resources. Apply for fellowships as soon as you get accepted. Because fellowships have different requirements, check the financial aid section of the school ’s website to see what’s available and if you are eligible. There are fellowships available to all types of students and programs, so do your research to find opportunities.
Where
Scholarships.com is a great place to start your search. Fill out a profile to see what fellowships you qualify for. Our database is filled with scholarships, grants, and fellowship opportunities. After looking at Scholarships.com, browse through the financial aid pages on your school’s website to find fellowship opportunities.
Why
Financial need is the greatest obstacle standing between students and educations. According to the American Council on Education, the average student loans debt for students graduating with a master’s is $26,119 at public institutions and $29,000 for private institutions. The average debt for student’s graduating with a professional degree is $63,500 at public institutions and $71,317 at private institutions. Fellowships are a great opportunity for graduate students and will lower student debt by thousands. Get a head-start on your fellowships applications to get as much money as possible and lower the competition.
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