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Just how do grants change from loans? Guide to Grants for University

Thursday, September 3rd, 2020

Just how do grants change from loans? Guide to Grants for University

Obtaining an university grant means free money — and who does not love free money? It may seem too good to be true, you could probably land a grant for those who have a strong need that is financial. You may qualify for another source of free college money: merit-based scholarships if you don’t.

College grants vs. Scholarships

Funds and scholarships are both kinds of university money which you don’t need certainly to repay, and you’ll usually hear the terms utilized interchangeably. Both are called present help.

Funds and scholarships are both forms of university money which you don’t need certainly to repay, and you’ll usually hear the terms utilized interchangeably.

They come from different sources, including governments, universities and organizations that are private. But there’s one notable distinction: funds are generally need-based, while scholarships tend to be merit-based, claims Shannon Vasconcelos, an university finance consultant at university Coach and previous educational funding officer at Boston University and Tufts.

The difference can be confusing, as some businesses provide scholarships which have a need-based component, Vasconcelos states. (more…)