The Difference Scholarships And Grants And How You Can Apply For Them

Filed in Scholarships Updates by on February 9, 2019 0 Comments
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The Difference Scholarships And Grants And How You Can Apply For Them.

Scholarships or grants, which should you, go for? Are they the same? If no, what are the differences between scholarships and grants?

This article today will focus on The Difference Scholarships And Grants, the definitions, eligibility and which one you should really go for.

The Difference Scholarships And Grants

The Difference Scholarships And Grants

For people wondering about the differences between scholarships and grants, both are students financial aids which helps to pay for the necessary necessities associated with learning in the higher institutions such as tuition, accommodation and textbooks. Most people use these two terms interchangeably, but this article will correct the error as it looks into the Difference Scholarships And Grants in a broad light.

The Difference Scholarships And Grants

For those using these two terms interchangeably and who which to know the difference, here is a quick brush through.

Grants are usually awarded based on students’ demonstrated financial need. Such grants are usually awarded by the federal government, state governments and colleges and universities.

Scholarships, on the other hand, are usually awarded based on merit, such as academic, athletic or artistic talent. Some scholarships do at times involve a need-based component. Private scholarships are usually awarded by private foundations, community foundations, philanthropists, unions, non-profit organizations and for-profit corporations.

Sources Of Funding

Scholarships are awarded by a number of big funding sources. These sources may include businesses, religious groups, NGOs, Community organizations, college departments or alumni. Grants, as stated earlier, are different because they usually come from state or the federal financial aid that is given to the college or university itself.

Eligibility

To be eligible for both scholarship and grants, one must be enrolled in an accredited college, university or other institution of higher learning. Students can usually be eligible for both. Scholarships are usually for undergraduates students and once the graduate level is reached, there comes in private financial aids in the form of fellowships. These fund advanced studies and research. Grants, however, can be awarded to those pursuing either undergraduate or graduate degrees.

Merit.

Scholarships are often awarded based on academic or extra-curricular merit. They require an application stating why the applicant deserves to receive the scholarship award. Grant will take the financial need of an applicant into consideration to determine ones merit for receiving financial aid.

From the above, you’ve seen clearly the difference between scholarships and grants. This clear cut difference should be able to help you make a choice on which one to go for. Choose wisely.

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