Scholarships vs Discounts: What Every Student Should Know Before Applying

Introduction

There are various types of financial aid available to ensure that financial concerns do not hinder a student’s career path. However, with so many options around, it is quite natural to feel unsure about where to begin. Hence, being aware of its various types and the difference between them is crucial to ensure choosing the most suitable one.

Continue reading to explore the top financial assistance types, differences between them (including scholarships vs discounts), Amity University Online’s scholarship types, and tips for picking the right one.
 

Types of Financial Assistance for Higher Education

Although every financial assistance type is aimed at supporting a student’s educational endeavours, each serves a different purpose as described below:

Scholarships

These are non-repayable financial awards given to students who fulfil certain criteria pre-defined by an institution.

The main scholarship types include:

• Tuition fee waivers
• Merit-based waivers
• Need-based waivers
• Competency-based waivers

Discounts

These reductions in fees are offered to students at the institution’s discretion. The discounts are usually one-time and depend on different institution-specific factors.

Concessions

These are special fee reductions provided to students belonging to certain categories, such as economically or socially disadvantaged sections, learners with special needs, etc.

Financial Aid

It is an umbrella term encompassing various types of financial assistance, including scholarships, loans, grants, discounts, etc., for students to help them achieve their academic goals.
 

Difference Between Scholarship and Discount

While both help reduce academic expenses, scholarships and discounts differ in purpose, eligibility, and the way in which they are awarded to students. The table below lists the differences:
 

Scholarships Vs Concessions: Higher Education

Scholarships and concessions awarded for higher education may seem similar, but they cater to different student needs and circumstances. Their key differences are tabulated below:
 

Financial Aid Vs Discounts in Online Education

With the rise of online learning, understanding the difference between financial aid and discounts is essential for students to ensure they pursue their dream career within their budget. The table below outlines the main differences:
 

A Quick Student Guide to Scholarships and Discounts at Amity University Online

Amity University Online provides an academically enriching experience for all in an inclusive environment by catering to the specific needs of students from various categories. This makes education accessible for every student, irrespective of their physical, psychological, financial, or social constraints.

The helpful scholarships and discounts provided by Amity University Online are tabulated below: 
 

How to Choose the Right Financial Assistance?

While there are many financial assistance types, students can easily choose the one best suited for them using the following tips:

• Students must first assess their financial needs.
• Check the relevant or preferred category’s eligibility criteria.
• Ensure compliance with the rules and regulations with valid documents.
• Understand the percentage of fee deduction covered.
• Read through the scholarship page for every detail regarding discounts and scholarships.
• Contact the Admissions Team for any additional queries.

Conclusion

Every student aspires to pursue their dream programme from reputed institutions without worrying about their budget constraints. However, with various financial assistance types, students can easily fulfil this dream with ease.

With the key differences between them and all the Amity scholarships explained here, along with tips for a wise selection, students can choose the appropriate scholarship or discount for themselves. All they need to do is pick a programme of their choice from the diverse options at Amity University Online to get started on their academic journey.