Academic scholarships are awarded to students with exceptional educational records. This is often based on the student’s high school GPA (grade point average), but also high scores on college admission tests such as SAT, ACT and GMAT. Some other merits can also be taken into account, such as extracurricular activities on your resume, recommendation letters from previous school and own personal statement.
Sports scholarships on the other hand are awarded to student-athlete who compete for one of the college teams. The student’s sport skills are of course crucial when applying for this type of scholarship, but the student’s educational performance is also an important part in the scholarship reviewing.
Need based scholarships are scholarships based on the student’s economic situation and ability to pay for higher education. A need based scholarship can be rewarded to students by the government, but also by the universities themselves. To be eligible for a financial need based scholarship, the student might need a GPA above a certain level. Additionally, the income background is often considered.
There are many more types of university scholarships than listed above. To mention a few, there are state scholarships, scholarships offered by foundations and non-profit organizations, international student scholarships and scholarships for specific degree programs. The application process varies between each one of them, just like the requirements for the applicants.