Awarded to students with demonstrated financial need. Recipients are expected to be enrolled full-time. The named and/or endowed scholarships are also need-based, but many have a merit component. Recipients of named and/or endowed scholarships are often selected after their initial financial aid offer based on scholarship-specific eligibility. These scholarships are almost always used to replace some or all of the recipient’s Caltech scholarship. The Financial Aid Office makes every attempt to renew these scholarships, contingent upon the recipients continuing to meet the specific eligibility criteria.