Merit-based vs. Need-based scholarships: Which one should you apply for?

Merit-based and need-based scholarships mainly differ in why the scholarship is awarded. Knowing the eligibility criteria for each type can help you identify options that align with your profile.

The key difference between merit and need-based scholarships is that while one focuses on your achievements, the other takes your financial situation into consideration.

Merit-based scholarships are typically awarded to students who have demonstrated outstanding academic performance or achievement in a particular area of study or through extracurricular activities. The eligibility criteria may vary depending on the university, scholarship provider, and course pursued.

• Strong academic record: Students with consistently high grades, standardised test scores, or notable academic achievements may qualify for merit-based academic scholarships abroad.

• Achievements beyond academics: Some scholarships recognise achievements outside the classroom, including sports, arts, leadership, community service, or other extracurricular activities.

• Relevant skills or talent: Students with a strong portfolio, specialised skills, or exceptional talent in an area relevant to the scholarship may also be eligible for various study abroad funding opportunities.

Need-based scholarships are typically offered to students who genuinely need financial support to help cover the cost of studying abroad. Eligibility criteria may vary depending on the university or scholarship provider.

• Students with demonstrated financial need: These students may need to provide details of their family income, assets, or other financial circumstances to show they genuinely need financial assistance to pursue a degree overseas.

• Students who meet the academic requirements: Some scholarships may also require applicants to meet minimum academic or admission standards before they can be considered eligible for specific university scholarships for international students.

• Students who meet the scholarship criteria: Eligibility for a scholarship programme may also depend on the study destination you choose, the course you aspire to pursue, your nationality, and other requirements specified by the scholarship provider.

In many cases, international students can apply for both merit-based and need-based scholarships, provided they meet the eligibility requirement for each award. However, holding both scholarships simultaneously is not always allowed. Some institutions restrict scholarship stacking (combining multiple scholarships from different sources to cover study abroad expenses), and each university sets its own rules on whether students can hold two awards at the same time.

Application requirements and funding policies also vary between scholarship providers, so, it is important to review the eligibility criteria and terms of the scholarship before applying.

Here’s how to get a scholarship to study abroad (and apply under both categories):

• Check the eligibility criteria: Review the scholarship requirements for the specific programme that you are interested in applying to. Make sure to check whether or not applications are open to international students. 
  

• Apply based on your profile: Consider merit-based options if you have strong academic or extracurricular achievements, and need-based options if you can showcase authentic financial need.

Applying for scholarships (whether merit- or need-based) takes more than filling out an application form. Even small mistakes can significantly affect your chances of receiving a scholarship. So, review your application thoroughly before submitting it. Here are some scholarship application tips to help you along the way:

• Avoid missing deadlines: Keep track of all application deadlines and submit all required documents on time. Missing a deadline may result in the rejection of your application. 
  

• Ignoring eligibility criteria: Ensure that you carefully check the requirements of the scholarship programme that you intend to apply for. Make sure you meet the eligibility criteria before applying. 
  

• Submitting a generic application: Generic or vague applications may be rejected. Make sure to customise your application and supporting documents for the specific scholarship programme you are applying for. Tailor your application in a way it aligns with what the programme is specifically looking for.

There is no definite answer as to which scholarship programme is best for you. It is a personal choice based largely on your academic profile, financial situation, and the eligibility criteria defined by the specific scholarship provider.

• Consider the funding that you need: It helps to check whether the scholarship that you are considering offers a partial or full fee waiver. Most international students prefer fully funded scholarships because they cover full tuition fees and may also provide living expense support. Partial scholarships can still provide the financial assistance you need and help you meet your study abroad goals (even if they don't cover your tuition fees in full).  
  

• Consider the application effort required: Some scholarships may require you to write essays, prepare for interviews, create strong portfolios, or gather detailed financial documents (particularly for financial need scholarships). Make sure you know the exact scholarship requirements for international students and are sufficiently prepared for the application process. 
  

• Apply beyond one category: Avoid limiting yourself to a single scholarship type. Compare different options and apply to those that align with your specific circumstances, requirements, and study abroad goals.

Choosing between merit-based and need-based scholarships can be challenging when planning your study abroad finances. IDP Education study abroad consultants can help you explore scholarship opportunities overseas, understand each eligibility requirement, and make more informed funding decisions based on your study plans and circumstances.