Educational scholarships have helped many academically brilliant but needy students pursue their desire for a higher education. There are educational scholarships not just for the less-fortunate students but there are also scholarships that are offered as recognition of academic achievements. The educational scholarships given based on the academic performance are called merit-based scholarships and those based on the financial need of a person are called need-based scholarships. Educational scholarships are provided by various universities and colleges, social organizations and corporate organizations. Some scholarships come with a bonded agreement whereby the recipient will be required to work in a particular organization, or as in the case of teaching or medical studies scholarships, the recipient must do some service in a particular community or area. Educational scholarships are of great help to students who do not have the time to work and finance their education. As they are gift money, there is no need to payback educational scholarships. Academics, sports, music, writing, science are just few of the areas where scholarships are available for students. Hundreds of educational scholarships are offered each year to students of various disciplines by various sponsors. In order to get an educational scholarship for higher studies, you need to prepare from the beginning of the academic year itself. You can check out the various sources of educational scholarships and grants in your local community and state, such as schools, colleges, religious, and civic organizations.