Graduate and postgraduate studies can cost tens of thousands of dollars. For some highly motivated students, getting a fellowship can help pay for this type of college tuition. Here’s what potential applicants need to know to apply for a scholarship and how to decide if this form of college funding is the right choice for you. Fellowship can help students in many ways. Experts say that the conditions and benefits of college fellowship may vary by department, but the simplest definition is a grant to reduce the cost of education. In academia, when we say ‘scholarship’, it usually means a monetary award given to students for their great academic activities. Scholarships are generally grade-based for advanced study in academic subjects. The term scholarship is more commonly used in graduate school, although it is sometimes used by institutions of higher education to refer to college scholarships and by private sector employers to describe the college careers of recent college graduates. It is very helpful for students, it motivates students to improve their academic performance. They become a better person, they realize the importance of education. It should be provided to all the students who are doing a lot of hard work to improve their academic performance. Teachers and parents should encourage students to study hard to get fellowships. This will help them to improve the quality of their life.