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The Difference Between Grants And Scholarships

When it comes to enrolling in college, most students make an effort to learn about educational grants and look into the many different ways they can get financial aid to help with the expense of attending school. Some of the most common forms of aid for college students are scholarships and grants.

Both award money to students that does not have to be paid back, unlike student loans, but what are the differences between the two? Here are the main ways scholarship and grants can be differentiated:

Scholarships can be award to students from many different organizations, including this that make a profit, while education grants for college are provided only by non-profit organizations.

Scholarships are generally given to students who are getting ready to go to college for the first time, those already attending college, or those going back to school later in life to obtain or finish a degree. They may be based only on a student’s gender or what they’re planning to study in school. Grants can be given for a number of different reasons but are usually awarded for a specific cause. They are often given to students attending college that have a financial need, but they can also be given to entrepreneurs, small businesses, and victims of natural disaster.

Once a student receives a scholarship, they are often required to maintain the criteria for which they ware originally awarded the scholarship. For example, they would need to keep studying in the same field in order to keep a program-based scholarship. They may also be required to keep a certain GPA in order to keep receiving the scholarship. Students who are awarded grants may have to meet a different type of criteria, if any at all. Some students or organizations that receive grants for special programs of study or research projects must provide detailed reports of their plan within their studies or projects in order to prove that they will use grant money efficiently. Students that receive good education grants just for general college education purposes often don’t need to follow through with any of these requirements.

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