What is Scholarship?
For the aspirants, scholarship is an award in the form of finance. Scholarships are catered on the basis of distinct list, which generally imitates the desires and value of the donor.

The most common Scholarship is as follows:

Merit-based: These rewards are based on the aspirant’s artistic, athletic or other abilities, often the applicant’s extracurricular activities are considered. The better accepted merit –based scholarship, is catered by the private organization or directly by the student’s intended college, distinguished attainment or high scores on standardized tests. The merit based Scholarships are majorly and directly paid by the institutions the students attend.

• Need-based: These awards are based on the student’s and their family’s financial record and obligate applicant to fill a Free Application for Federal Student Aid (FAFSA) which certify the scholarship as a federal award. Private need-based scholarships also often require the results of a FAFSA, which appraise the aspirant’s financial need through a formula that looks at the family grant and the cost of attendance at the intended college.

• Student-specific:
These are scholarships catered on the basis of gender, race, religion, family and medical history, or many other student-specific factors.
*All Fields
Minority scholarships are the most common awards in this category.[citation needed] For example, students in Canada may qualify for a number of aboriginal scholarships, whether they study at home or abroad.[citation needed] The Gates Millennium Scholars program is another minority scholarship funded by Bill and Melinda Gates for excellent African American, American Indian, Asian Pacific Islander American and Latino students who enroll in college.

• Career-specific: These are scholarships for aspirants who plan to pursue a particular area of study, by the colleges and universities. At the most the awards are given to those students who pursue their career in high demand areas such as education and nursing. Full scholarship is provided to the future nurses in the US, to help them enter the field and also if the student chooses to work in the high need community.

• College-specific: These scholarships are catered to the exceptionally efficient students by colleges and universities. On the basis of academic and personal achievement full scholarship or cut down in the tuition fees is amended.

• Athletic: These are given to students showing extraordinary talent in sports provided by the college.

What is Fellowship?
Fellowship is a course of time of medical training in the US and Canada where a physician or dentist engage themselves to complete a specialty training program (residency). In this course of time (usually more than one year), the aspirant is known as a fellow. Fellows are adequate of carrying out and attending as a physician or a consultant physician in the generic field which they are qualified in, such as enclosed medicine or pediatrics. As the fellow intact in the applicatory division of the sub-specialty, the fellow is affirmed to practice without the surveillance of the superior physicians in the sub-specialty, like as cardiology or oncology.

Graduate Schools face problem in funding in order to pay the tuition fees and living expenses. Favorably, the set of government agencies, institutions of higher education and other organizations that recognize the value of a graduate education, and these parties appreciate the concern of guidance to the students who wish to attend the master degree PhD degree. Through convenient graduate fellowship, such organization makes it accessible for the students to capitalize their graduate studies with the accord of freedom, the fellowship are given by the distinct university, where the students are expected to execute his or her research work to earn their degree.

Fellowships have traditionally been awarded to graduate and post-graduate students, but there are an increasing number of fellowships available to recent college graduates in public policy, the arts, education, and other nonprofit fields.

Fellowship Benefits

The individuals chosen for the USC School of Pharmacy fellowship program are qualified health, dental and other benefits provided to university students and to:

An allowance of approximately $51,000.

Professional liability insurance provided at affiliated institutional sites

What is an assistantship?
An assistantship is a form of financial assistance arranged for the graduate students through part-time academic employment. An allowance is rewarded to the assistants in conversion of assignments they accomplish for the faculty member, the department, or the college. Teaching assistantships give allowance in return of the teaching activities, such as assisting a professor by administrating lab or study groups, preparing lectures, and grading. Research assistantships compensate student for supporting the professor in his/her research work.

There are three types of Assistantship:
Graduate Assistant (GA), Research Assistant (RA), Teaching Assistant (TA)

The Graduate schools are high priced. The anticipation of acquiring debt is never appealing. Most of the aspirants chase for some favorable circumstances to work for at least a ration of their tuition. . The teaching assistantship allows students to learn how to teach in return of the tuition expenses.

An assistantship is a kind of capitalization in which the student is an “assistant” in occurrence of the allowance. The aspirants rewarded with the research assistantships become research assistants and are appointed under the professor in the lab. The supervising faculty member may or may not be the student's chief advisor. The responsibilities of research assistants differ by cultivation and lab but comprehend all assignments needed to pursue research in a given area, such as:

• data collection, entry, and analysis
• reviewing the literature and other library work
• writing reports
• copying, filing, and collating
• organizing and/or cleaning the lab or office

A graduate assistantship is a way for a graduate student to work for a university in his or her chosen field, generally while being paid a small stipend in combination with the bonus of free tuition. Graduate assistantships are quite competitive and will vary by university. For those students who excel in their field of study, however, they can be an excellent way to gain experience while continuing their education.

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