What is a scholarship and how does it work?

Question

I understand the concept that a scholarship helps pay for your tuition but what I don't know is how it works. Do they send you a check or something? Then do you just send it to the University you want to?

Answer 1

Usually scholarships are rewarded to those individuals who have applyed and are found to be the best recipients of the award. It all depends on the scholarship and the foundation many times they will award your school directly and you don't have to do any guesswork. But for the most time they will send you a check which can only be redeemed by the university you proposed it would go to.

Answer 2

You can read all about scholarships here:

http://www.studentfinancedomain.com/fina...