If I had a dollar for every time I've been asked about scholarships, I could pay every student's tuition for a year! (OK, maybe just a year's supply of Ramen, but you get the idea.) This ultimate scholarship FAQ answers all the most popular questions I've heard—as concisely as possible.

The Basics

What Is A Scholarship?

A scholarship is an award, which does not have to be repaid, given by a person or organization to fund a student's education.

What Is The Difference Between A Private Scholarship And An Institutional Scholarship?

A private scholarship is any award set up by an organization other than the federal government or a school. An institutional scholarship comes from an educational institution (such as a school). The federal government does not award "scholarships," but they do award grants.