All you need to know about scholarships
A scholarship can include everything from schools tuition, living expenses, meal plans, school books, and in some cases even spending money.
In College sport's it's ultimately the head coach who has final word when distributing scholarships within a team. Sometimes a coach will reward swimmers who do well so If you swim fast during season you can expect an increase in scholarship money.
Here's an example of how athletic scholarships get distributed:
The total amount of full rides* available at a school in Division I are 9.9 for men and 14.0 for women. This means that 9.9 of all men and 14 of all women in this team have a chance to receive full financial coverage for his/her athletic ability.
Since larger schools can have around 30 talented swimmers in each team (men & women), this technically means only 33% from the men's team and 46% from women's can receive full coverage in a team of this extent. To avoid in-balance in size and strength, the head coach usually distributes athletic scholarship money in smaller portions.
To add to the athletic contribution you also get a chance to receive an academic scholarship. The size of the amount will depend purely on academic accomplishments including highschool grades and high scores from standardized tests such as SAT, ACT, or TOEFL (see below).