Merit Based Scholarships for International Students

Merit-based scholarships are financial awards granted to you based on your academic achievements, extracurricular involvement and other demonstrated talents and skills. Unlike need-based scholarships, which consider your financial situation, merit-based scholarships recognize excellence and provide funding to support your educational goals. Merit-based scholarships can be particularly helpful for international students studying overseas.

Criteria typically used to award these scholarships

Academic performance: High GPA, class rank and standardized test scores such as SAT, ACT or PSAT.
Extracurricular involvement: Leadership roles, volunteer work, participation in clubs, sports or arts.
Special talents or skills: Demonstrated abilities in areas such as music, athletics, art or science.

Benefits of merit-based scholarships

Financial support without repayment obligations

One of the primary benefits of merit-based scholarships for international students is that they provide you with financial aid without the need for repayment, as long as you meet the ongoing eligibility requirements. This is in contrast with private student loans, which must be repaid. This support can cover various expenses, including tuition, books and living costs, reducing the financial burden on you and your family.

Recognition of academic and extracurricular achievements

Receiving a merit-based scholarship is a prestigious acknowledgment of your skills, hard work and dedication. It highlights your academic and extracurricular achievements, enhancing your resume and making you more attractive to future employers and academic institutions.

Opportunities for personal and professional growth

Merit-based scholarships often come with additional opportunities such as networking events, internships and mentoring programs. These experiences can be invaluable for your personal and professional development, providing you with the tools and connections needed for success in your chosen field.

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Eligibility criteria for merit-based scholarships

Academic performance

A strong academic record is a common requirement for merit-based scholarships. This includes maintaining a high GPA, ranking well in your class and achieving high standardized test scores. Scholarship committees look for students who’ve consistently performed well academically.

Extracurricular involvement

Active participation in extracurricular activities is another crucial criterion. This can include leadership roles in student organizations, involvement in community service projects, participation in sports teams and engagement in arts and cultural activities.

Special talents or skills

Many merit-based scholarships are awarded to students who’ve demonstrated exceptional talents or skills in specific areas, like STEM scholarships. This can include artistic abilities, athletic prowess, musical talent, scientific research or technological innovation. Merit based scholarships are also often offered to specific groups, such as scholarships for women.

The application process for merit-based scholarships

Researching available scholarships

The first step in securing a merit-based scholarship is researching the various opportunities available. You can consult with school counselors, search online databases, visit scholarship websites and explore local community resources to find scholarships that match your qualifications.

Preparing necessary documents

You typically need to gather and prepare several key documents, including:

Academic transcripts: Official records of your high school or college grades.
Standardized test scores: SAT, ACT, PSAT or other relevant test scores.
Letters of recommendation: Written by teachers, mentors or community leaders who can attest to your qualifications and character.
Personal essays: Well-crafted essays that highlight your achievements, goals and reasons for applying for the scholarship.

Submitting applications and meeting deadlines

Timeliness is critical in the scholarship application process. Ensure you complete and submit all required materials by the specified deadlines. Missing a deadline can result in disqualification, so it’s essential to stay organized and keep track of all due dates.

Merit-based scholarships for international students

There are numerous merit-based scholarships specifically designed for international students. These scholarships can be offered by universities, private organizations and governmental programs, aiming to attract talented students from around the world.

Additional criteria or requirements for international applicants

As an international student, you may face additional requirements, such as:

Proof of language proficiency: Scores from English language tests like TOEFL or IELTS
Visa status: Documentation related to your student visa and immigration status
Cultural adaptability: Some scholarships may require essays or interviews to assess your ability to adapt to a new cultural environment

Examples of prominent international scholarships for international students

Fulbright Foreign Student Program: Provides grants for graduate students, young professionals, and artists from abroad to study and conduct research in the United States
International Leader of Tomorrow Award at UBC: Recognizes international undergraduate students with outstanding academic achievement and leadership skills

Tips for securing merit-based scholarships

Maintaining a high GPA and excelling in standardized tests

Consistently high academic performance and strong standardized test scores are essential. Focus on excelling in your coursework and preparing thoroughly for exams like the SAT, ACT or PSAT.

Engaging in extracurricular activities and leadership roles

Active involvement in extracurricular activities, particularly in leadership positions, can significantly enhance your scholarship application. Seek opportunities to lead clubs, participate in community service and engage in sports or the arts.

Writing compelling essays and obtaining strong letters of recommendation

Personal essays should effectively communicate your achievements, aspirations and reasons for applying for the scholarship. Building strong relationships with your mentors is essential for obtaining impactful letters of recommendation. Teachers and mentors who know you well can provide insight into your strengths and potential, making your application more influential.

Why choose MPOWER Financing?

MPOWER Financing is dedicated to providing loan options and also actively supports international students through scholarships and comprehensive educational financing solutions.

Here’s how MPOWER empowers students globally:

Diverse scholarship opportunities: MPOWER offers monthly scholarships, giving international students regular opportunities to secure funding. Special initiatives like the Women in STEM Scholarship encourage gender diversity in science, technology, engineering and mathematics. The Global Citizen Scholarship rewards students demonstrating leadership and a commitment to global impact, while the MBA scholarship supports international students pursuing MBA programs in the U.S. or Canada.
Flexible financing options: MPOWER Financing provides no-cosigner and -collateral student loans to international students studying in the U.S. and Canada. With fixed-rate loans ranging from US$2,001 to US$100,000 total , MPOWER’s financing is designed for flexibility. These loans are also accessible even to those with other financial commitments.
Streamlined loan process: MPOWER’s digital loan application process simplifies every step, from approval to disbursement.
Focus on future potential: Prioritizing students’ future potential over their past financial history, MPOWER’s approach to loans – requiring no cosigner or collateral – enables a broader set of students to access funding. In addition, MPOWER’s U.S.-based funding helps students build a U.S. credit history with timely payments, which encourages financial responsibility.
Benefits beyond funding: MPOWER Financing believes funding your education is only the first step to success – not the last. That’s why every MPOWER student gains access to exclusive career, visa and financial resources through its Path2Success program.

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FAQs

What distinguishes merit-based scholarships from need-based scholarships?

Merit-based scholarships are awarded based on your achievements and abilities, while need-based scholarships are awarded based on financial need. Merit-based scholarships recognize and reward excellence, whereas need-based scholarships provide financial assistance to those who need it most.

Can international students apply for merit-based scholarships?

Yes, many merit-based scholarships are available to international students. However, you may have additional criteria or requirements, such as proof of language proficiency and visa status.

What documents are typically required for merit-based scholarship applications?

Commonly required documents include academic transcripts, standardized test scores, letters of recommendation and personal essays. Some scholarships may also require a resume, portfolio or interview.

How can I improve my chances of winning a merit-based scholarship?

To improve your chances, maintain a high GPA, excel in standardized tests, actively participate in extracurricular activities and write compelling essays. Obtaining strong letters of recommendation and thoroughly researching available scholarships can also enhance your application.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

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What are merit-based scholarships?