Need-Based v/s Merit-Based Scholarships: Eligibility & Criteria for Selection

Content Curator

In recent years, studying abroad has become an increasingly popular option for students looking to pursue higher education. However, many students may find it difficult to study abroad due to the hefty expenditures involved. To overcome this challenge, many students seek out scholarships to study abroad, as a means of overcoming this obstacle because they offer financial support and let them follow their academic objectives.

When it comes to scholarships to study abroad, there are two main types: need-based and merit-based. Need-based scholarships are awarded to students who demonstrate financial need, while merit-based scholarships are awarded based on academic or other achievements. Both types of scholarships have their own advantages and limitations. In this article, we will explore the differences between need-based and merit-based scholarships to study abroad, and provide guidance to help students make an informed decision about which type of scholarship to pursue.

What does Merit-Based Scholarship mean?

Merit-based scholarships are scholarships that are awarded to students based on their academic, athletic, artistic, or other achievements. These scholarships are often given to students who have excelled in a particular field and have shown extraordinary talent, skills, or achievements. For example, a student who has achieved high grades in their academic studies or has excelled in a particular sport or artistic field may be eligible for a merit-based scholarship.

Merit-based scholarships are often highly competitive and may require applicants to meet certain criteria, such as minimum grade point averages or standardized test scores such as IELTS, TOEFL, GMAT or GRE. Some of the popular merit-based scholarships to study abroad as tabulated below:

Scholarships	Country of Study	Eligibility	Award
Ontario Graduate Scholarship	Canada	Students enrolled in Master’s and Doctoral level of studies	Up to 15,000 CAD
Australia Awards Scholarship	Australia	Enrolled in Bachelor’s or Master’s programs	Full tuition fee \| Airfare \| Health cover \| Living expenses
Inlaks Shivdasani Foundation Scholarships	USA, UK, and European countries	Students enrolled in Master’s and Doctoral level of studies	Up to 100,000 USD
Aga Khan Academy Scholarships	Global	Students seeking to pursue postgraduate studies	Covers tuition fee and living expenses
Heinrich Boll Scholarships	Germany	Students seeking to pursue postgraduate or doctoral studies	Variable
GREAT Scholarship	UK	Students seeking to pursue one-year taught postgraduate studies	10,000 GBP towards tuition fee

What are Need-Based Scholarships?

Unlike merit-based scholarships, need-based scholarships are not awarded based on academic or other achievements. Instead, they are awarded based solely on a student's financial need. These scholarships are designed to assist students who are unable to afford the cost of higher education on their own. Need-based scholarships can provide financial support for tuition, fees, books, and living expenses.

Scholarship programs require financial details, including income, assets, and expenses, to determine a student's financial need. This info helps calculate the student's expected family contribution (EFC) for their education. Popular need-based scholarships for studying abroad include:

Scholarships	Country of Study	Eligibility	Awards
Felix Scholarships	UK	Students seeking to pursue postgraduate studies in University of Oxford, the University of Reading and the School of Oriental and African Studies, University of London (SOAS)	Full tuition fee \| Airfare \| Living expenses
Ms. Agatha Harrison Memorial Fellowship	UK	Applicants should possess a minimum of 60% in their postgraduate studies \| Must hold a PhD in their chosen subject field or have published works of equal caliber.	Up to 30,000 GBP
Fulbright Nehru Master’s Scholarship	USA	Students seeking to pursue postgraduate studies	Full tuition fee \| Airfare \| Health cover \| Living expenses
National Overseas Scholarship	Global	Students seeking to pursue postgraduate or doctoral studies	Up to 13 lakhs INR
Chevening Scholarship	UK	Students seeking to pursue postgraduate studies	Full tuition fee \| Airfare \| Monthly Stipend \| Living expenses

Difference between Merit-Based and Need-Based Scholarships

Both merit-based and need-based scholarships to study abroad offer financial support to students, but they are awarded based on different criteria.The table below summarizes the key differences between these two types of scholarships to help students decide which option is best for them.

Parameter	Need-Based Scholarships	Merit-Based Scholarships
Criteria for selection	Financial need	Academic or other achievements
Eligibility	Based on financial background	Based on talent, skills or achievements
Application process	Requires financial information	May require a portfolio or resume
Award amount	May cover partial or full cost of tuition, fees, books and living expenses	Varies based on the scholarship and the level of achievement

Choosing between need-based and merit-based scholarships to study abroad can be a difficult decision for many students. It is important to keep in mind the eligibility criteria, application process, and award amount when applying for scholarships. Students should carefully research and evaluate their options before making a decision.

Regardless of the type of scholarship, dedication, hard work, and perseverance are crucial to successfully obtaining a scholarship and pursuing higher education. By keeping these things in mind, students can improve their chances of getting the financial assistance they require to meet their educational objectives.