Institutional
Gift aid received from colleges and universities is referred
to as institutional aid, since the money comes directly from the
school's resources. This type of financial assistance is the most
sought-after type of funding and the most difficult to receive.
Scholarships and graduate fellowships may be awarded on the basis
of need, merit, or both. Students applying for scholarships
and fellowships strive to distinguish themselves from other
qualified candidates – an exceptional GRE score can set you apart
from the applicant pool and can even get you more scholarship
money for grad school.
Most fellowships provide for full tuition and a stipend. Many
cover a student's full academic career, but some must be renewed
each year. Most fellowship programs are highly competitive and
are designed to attract students with excellent academic records.
They are often limited to doctoral and post-doctoral students,
though there are some that specifically target Master's-level
students in particular fields.
When you take your GRE, you can designate scholarship and
fellowship adminstrators as score recipients. Performing well on
Test Day gives you a direct chance to compete for gift aid—start
your prep early to give yourself the best financial aid
options.
"Portable fellowships" are offered by independent donors or
organizations and can be used at any university. Several
different guides to portable fellowships can be found in your
financial aid office or public library.
Institutional fellowships are awarded through specific
university programs. The financial aid offices of the schools to
which you are applying can give you information on any available
institutional fellowships.
Outside Scholarships and Grants
Many private grant and scholarship programs exist through
community groups, businesses, and non-profit agencies. Spend time
at the library or on the Internet and investigate free
resources.
