Financial aid provided to a student to help fund their academic studies. Unlike a loan, a scholarship does not require repayment. Scholarships are granted based on criteria outlined by the person or institution granting the award, including academic merit, financial need, extracurricular activities or other distinctions. You may have to apply for certain scholarships, while you may be automatically considered for others.
On OUInfo, the following scholarship terms are used:
- Application Required: You must submit an application to be considered for the award.
- Application Not Required: You are automatically considered for the scholarship when you apply to the university. No application is necessary.
- Renewable: A scholarship that can be received for more than 1 year, if the stated criteria are met each year.
- Non-renewable: A scholarship that is awarded for 1 year only.