A college scholarship includes money for books, tuition, room and board, student activity fees and sometimes even parking fees. If a student receives a full ride to college, they will not need to pay for the majority of the expenses involved in going to college. Scholarships can make or break a student's decision as to which school they will attend. For instance, if a student applies to a school outside the state in which they live, and receive a scholarship to that school they will more than likely attend that school. But if that student does not receive a scholarship to that school they might have to attend an in-state school, which is cheaper for in-state student residents.

Going through the application process to obtain a college scholarship can be quite time consuming. The application process includes sending transcripts of high school grades, grades from another college if the student is transferring, essays written for the selection committee and letters of recommendation from people close to the student applying for the scholarship.

Scholarships, once awarded can be accepted or declined without any questions answered. If the student does decline the scholarship, the scholarship will then be offered to another student.