Wednesday, June 22, 2011

What is the Difference Between College Grants and College Scholarships?

The terms "grant" and "scholarship" are usually employed interchangeably. Nonetheless, essential distinctions set them apart. Realizing the distinctions among college grants and scholarships can aid you organize your lookup for college funds. It can also give you a clearer photo of student economic assist in basic.

Similarities

The two grants and scholarships do not have to be compensated again, as opposed to student loans. College grants and scholarships can be employed to shell out for tuition and costs, housing and board at a college or school.

Variety

Scholarships frequently call for the pupils obtaining them to sustain a specific grade level common or fulfill other specifications when they are disbursed. Scholarships also have restrictive Variety. Grants, on the other hand, are usually not very as stringent in their Variety or reporting specifications. (Grants issued for a student's task, Nonetheless, may possibly call for considerable reporting documentation.) Grants are usually provided for nonmerit-based mostly causes, this sort of as getting impacted by a organic catastrophe, getting from a reduced-earnings family members or getting an additional attribute that does not have something to do with educational skills.

Resources

Grants are typically provided by federal government departments and companies. They may possibly also be provided by nonprofit organizations, this sort of as foundations. Scholarships are much more frequently presented by schools, foundations, companies, people and other personal teams than by governments.

Using The two

The two college grants and scholarships can be of considerable worth as soon as applying for college. Apply for as numerous of Equally as you qualify for so you can go to college with out obtaining to shell out many years following graduation having to pay back again higher-curiosity student loans.

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