Difference Between Scholarship And Fellowship

Studying professional courses abroad opens the door to an array of career opportunities but can also cost you a huge sum of money. Sometimes, due to this, many brilliant minds are forced to settle for the programs which may not align with their professional goals. However, with the introduction of many scholarships and fellowships, students have now the option to study their choice of course. Often, the students get confused between the terms; scholarships and fellowships. Though both the terms are used to explain the financial aid provided to students, yet there is a huge difference between scholarship and fellowship. In this blog, we will discuss both individually and point out the basic differences between the two.

Major Differences Between Scholarship and Fellowship

Now that you are familiar with the difference between scholarship and fellowship, given below is a table that summarises the distinctions between the two types of aids. 

Bases of Differentiation	Scholarship	Fellowship
Awardee	Students (secondary education to masters level)	Research Fellows
Academics	General Studies	Undertaking Research
Eligibility	Need-based and merit	Merit-based
Financial Coverage	Covers educational costs such as tuition fees, books, traveling, project works, equipment, etc.	It can include financial aid. If not the monetary support, the fellows receive other benefits as well.

What is a Scholarship?

A scholarship is a type of financial support that is used for covering all or a part of the educational costs. This majorly includes tuition fees, books, equipment, project works, etc. The scholarships are awarded on the basis of financial needs, the course, and the merit of the students. There is a multitude of scholarships offered by the government and private sector organizations for the students who have the will and determination to study but somehow lack the necessary resources to do it. What is important to note that the scholarships, unlike education loans, are not repayable. The entire expenditure is born by the scholarship-providing organization. Further, these aids start right from the school and extend up to the university level. There are numerous scholarships for students who want to pursue their studies in India as well as abroad, some of which have been listed below: 

• MHRD Scholarship
• Inspire Scholarship
• MIT Scholarship
• NSF Scholarship
• Jio Scholarship
• Scholarship in Canada for Masters
• Vidya Samunnathi Scholarship
• Colgate Scholarship
• Aga Khan Scholarship
• Dhirubhai Ambani Scholarship
• NMMS Scholarship
• Ratan Tata Scholarship for Engineering Students
• DMS Scholarship
• Scholarships for Engineering Students

Types of Scholarships

There are varied types of scholarships on the basis of purpose, field or university/school, etc. Below we have enlisted the major types of scholarships you must know:

• Merit-based Scholarship/exam-based Scholarships- This scholarships is awarded to the students that have excelled in studies and passed the qualifying exams with good grades
• Talent or Creative Skill-based Scholarships- This scholarships is awarded to students have exceptional skills and talents in subjects like Science, Mathematics, Computer Science or skills in writing, drawing
• Sports Scholarships- The scholarship is awarded to students that have participated in sports competition at state, national and international level
• University Scholarships- There are different scholarship awarded to students based on merit and other qualification by university
• Minority or Financial aid scholarships- Government and other organization have launched various scholarships to the students that belong to the minority community

What is a Fellowship?

When a fellowship is concerned, the major difference between scholarship and fellowship is that the latter is financial support that is awarded to the students who are willing to pursue higher education in a research field. Provided to the students who have completed their under graduation programs, the award can be in any subject area. The important point to note here is that the criteria for awarding fellowships are mainly merit-based. Unlike a scholarship, less emphasis is placed on a lack of financial resources. Further, just like scholarships, the fellowship provided to a research aspirant also covers educational costs. However, not all awards provide direct funding to the students. The financial assistance can be in other non-monetary forms too, depending on the conditions and rules pertaining to that particular award. The government and private organizations across the world have been promoting research studies in various disciplines. To encourage students, many fellowships are awarded to deserving candidates. Here is a list of some of the famous fellowships the students can apply for: 

• Teach for India Fellowship
• LAMP Fellowship
• Kothari Fellowship
• Gandhi Fellowship
• Ramanujan Fellowship
• SBI Youth for India Fellowship
• PMRF- Prime Ministers Research Fellowship

Types of Fellowships

Another prominent criterion of difference between scholarship and fellowship is their several types. Just like the major types of scholarships mentioned above, here are the popular types of fellowships

• PhD/Research Fellowships-The fellowships by universities and institutions are provided to students that are planning to pursue further after postgraduation
• Stream or Specialisation-based Fellowships- When students are encouraged to pursue research in a particular field or stream are known as stream or specialisation based fellowships

We hope that we have given you all the required information regarding the difference between scholarship and fellowship. If you are planning to pursue higher studies but are not sure about the scholarship or fellowships available, then the experts at Leverage Edu will lend you a helping hand. You can also get all your career-related queries and apprehensions answered within minutes by booking a free 30 minutes career counseling session with our mentors.