Scholarships are awarded to students to pay college tuition. Students earn scholarships for a variety of reasons, including financial need and sports or academic achievement. Scholarships can be awarded, at least partly, on the basis of intended major, gender, ethnicity, sexual orientation or disability. There are two major categories of scholarships: one-time and renewable.

One-Time Scholarships

One-time scholarships are just that: they are awarded once and usually help defray the cost of tuition for only one semester or academic year.

Renewable Scholarships

Renewable scholarships are multiyear awards. Such scholarships may be awarded when the student is a freshman and pay for all four undergraduate years. Usually, renewable scholarships only last so long as the student meets certain requirements. For example, if a student's cumulative or semester grade point average slips below a certain point, a renewable scholarship may be revoked. Other possible reasons for cancellation include disciplinary action or changing majors.