Scholarships are a type of financial aid commonly referred to as “free money” or “gift aid.” Scholarships usually require an application and are often awarded to students based on a combination of factors including merit. Merit scholarships tend to have specific requirements and are awarded to applicants based on certain skills and accomplishments and may not be based on financial need. Scholarships may be renewable, meaning you can receive scholarships for more than one year. A new application may be required along with maintaining certain eligibility requirements, such as GPA or a certain major. 

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