The scholarship generally bears the name of an important person that has helped people or done something exemplary for the society.
Every student that benefits from such a scholarship can receive mostly money, but also materials to help them throughout the college years.
A student can benefit from this type of scholarship if he enters such programs or if he has high scores. For instance, a humanitarian organization can give a memorial scholarship to a student that has great achievements in helping the community or that has high goals in helping the society. These scholarships can be grated by the university, especially if the memorial honored person was a student of the university. The same thing is applicable for organizations.
If the name of the memorial scholarship is given by the name of one person, or two, that have played an important role in the organization’s existence.
Such a scholarship can be a small amount of money, but if it comes from a prestigious organization or university, the student can go through his years of study without any economical problems. This is a scholarship that is usually granted to a small number of students, and in some cases just one student and it can consist in a very large quantity of money, especially if there is only one student evolved.
The honorific scholarship is usually given from universities or organizations that had great personalities in their past and want to honor that person’s name, by helping a determinate and ambitious student to get his degree and help the society. In some other case, the scholarship is granted by a foundation through an individual. But, in order to be a memorial award, the scholarship must hold the name of one person that had a great importance in the history of that foundation, for instance the person that first started the foundation. A memorial award can also be a student-special scholarship, granted by gender or race. Some are even special scholarships given only to women or a certain race students.