Austria Ph.D. Student in Mathematical Finance / Financial Risk Modelling

About Scholarships

A scholarship (beasiswa) is an award of access to an institution, or a financial aid award for a student to further education. Scholarships are awarded on various criteria usually reflecting the values and purposes of the donor or founder of the award.

The most common scholarships may be classified as:

• Merit-based: These awards are based on a student's athletic, academic, artistic or other abilities, and often factor in an applicant's community service record and extracurricular activities. The most common merit-based scholarships, awarded by either private organizations or directly by a student's intended college, recognize academic achievement or high scores on the ACT and SAT standardized tests.
• Need-based: These awards are based on the student and family's financial record and will require applicants to fill out a FAFSA to qualify if the scholarship is a federal award. Private need-based scholarships will also often require the results of a FAFSA, which calculates a student's financial need through a formula looking at the expected family contribution and cost of attendance at the intended college.
• Student-specific: These are scholarships where applicants must initially qualify by race, gender, religion, family and medical history, or many other student-specific factors. Minority scholarships are the most common awards in this category, and not all are based in the United States. For example, students in Canada may qualify for a number of aboriginal scholarships, whether they study at home or abroad.
• Career-specific: These are scholarships awarded by a college or university to students planning to pursue a specific field of study. Often the most generous awards are given to students pursuing careers in high-need areas such as education or nursing. Nursing students are in high demand, and many schools will give future nurses full scholarships to enter the field, especially if the student intends to work in a high-need community.

Undergraduate education (Indonesian, Sarjana S1) is an education level taken prior to gaining a first degree, hence in many subjects in many educational systems, undergraduate education is post-secondary education up to the level of a bachelor's degree, such as in the United States, where a university entry level is known as undergraduate, while students of higher degrees are known as graduates, while in some other educational systems and subjects, undergraduate education is post-secondary education up to the level of a master's degree, for example some science and engineering courses in Britain or some medicine courses in Europe.

A master's degree is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice. Within the area studied, graduates possess advanced knowledge of a specialized body of theoretical and applied topics; high order skills in analysis, critical evaluation and/or professional application; and the ability to solve complex problems and think rigorously and independently.A scholarship for this level in Indonesia is called Beasiswa S2.

In some languages, a master's degree is called a magister, which is Latin for master (teacher), and magister or a cognate can also be used for a person who has the degree. There are various degrees of the same level, such as engineer's degrees, which have different names for historical reasons.

Doctor of Philosophy , abbreviated PhD (also Ph.D.), for the Latin philosophiæ doctor, meaning "teacher of philosophy", or alternatively, DPhil, Dr. phil. or similar, for the equivalent doctor philosophiæ, is an advanced academic degree awarded by universities. In many English-speaking countries, the PhD is the highest degree one can earn and applies to graduates in a wide array of disciplines in the sciences and humanities. The PhD or equivalent has become a requirement for a career as a university professor or researcher in most fields. A scholarship for this level in Indonesia is called Beasiswa S3.

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