Importance of Scholarships Programs in Academia

Scholarships come in many shapes and sizes. There are many reasons a student should apply for financial aid or receive gifted funding to attend school. The institutions and organizations have a huge responsibility to provide scholarships to students who know how to manage their financial affairs well to ensure strong relationships with donors and recipients.  

There are many organizations and institutions in Pakistan which offer scholarship opportunities to people to earn their education. Without assistance from an outside source, students would not be able to pay for the degree, they need in order to enter the workforce and become a contributing member of society. The Higher Education Commission of Pakistan help you explore opportunities to undertake study, research or professional development in Pakistan and overseas. It offers national scholarships, foreign scholarships, learning opportunities abroad, scholarships for foreigners, placement opportunities and international research support programs for those who are willing to excel in their careers and serve the country ‘with a difference.’

The University of Management and Technology (UMT) a project of the Institute of Leadership and Management (ILM) Trust is set up with a vision to make education accessible to all. Under the project of ILM Trust, the ILM Fund seeks to meet the increasing demand for scholarships by establishing a reliable fund through which donations can be collected and effectively relayed to deserving scholars. "In this way, the ILM Fund enables deserving students to acquire excellent education by endowing varied scholarships." Currently, it is offering Alumni Scholarships, Kinship Scholarships, Merit Scholarships, Discount for ILM Colleges Students, Discount for Top 5 Orphanage Centers in Punjab, Corporate Group Discount, Khurram Murad Scholarship, Justice A R Cornelius Scholarship, Outstanding Sportsmen and Extracurricular Scholarship, (Special Person Disabled) Scholarship, Discount for The Knowledge School, Professional Scholarships, Remote Area Scholarships, Shuhda’s Children Scholarships and Scholarships for Children of Teacher to bright and talented students who choose to study at UMT. "The merit-based scholarships are awarded at the time of admission, while the need-based financial assistance can be requested during the course of study only in exceptional circumstances."

"The University of Central Punjab (UCP) is a private university located in Lahore, Punjab, Pakistan." It is a part of Punjab Group of Colleges which was chartered by Government of Punjab in 2002 and recognized by the Higher Education Commission of Pakistan. The University offers undergraduate and postgraduate programs in the fields of Engineering, Engineering Technology, Computer Science, Information Technology, Pharmacy, Business, Commerce, Accounting, Finance, Arts, Management, Social Sciences, Law, Media, Communication Studies and Life Sciences. There are nine distinct faculties in the University. It provides various types of merit scholarships, fee concessions, financial aid and co-curricular activity-based scholarships for students.

These scholarships are instrumental in shaping the careers of students. They are provided to students who are interested in college education, research, and technical expertise. The importance of scholarships is so high that even educational institutes, governments, and sponsors enjoy the fame and goodwill in the public and tax benefits from the governments. It provides extra funds and also helps in students’ enrollment. The participants can enter into higher education without dependency on the student loan. The fellowships help Ph.D. students acquire higher education and in academic progress. The scholarships help students perform effectively because there is a compulsion that students can continue to avail fellowships based on their performance in the previous semester.  They are a better way to attract students from other countries and widens your research and collaborations. Many universities participate in student exchange programs to enhance collaboration between labs.

Without scholarships or fellowships, it would be difficult for students to take up research and develop a better understanding of better technology to perform at various government levels.