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October 29, 2025
Scholarships and Grants
Scholarships and grants are the most common forms of financial aid that can effectively reduce or eliminate the cost of attending college. Unlike loans, these do not require repayment, making them highly desirable. Many universities and colleges offer merit-based scholarships to students who excel academically, athletically, or artistically. For instance, the National Merit Scholarship Program awards scholarships to students who achieve high scores on the PSAT/NMSQT1. Additionally, numerous private organizations and foundations provide grants based on need or specific criteria, such as field of study or community service.