Though scholarships and student grants are both financial aids and are frequently used interchangeably, there is a distinction between them. While we won’t dwell on such differences, our goal is to provide you with some very useful tips on how to win an international student grant without losing it again.
Difference between Grants and Scholarships
Both student grants and scholarships are types of financial assistance that can help students pay for their education. However, there are some key differences between the two:
Purpose:
Grants are typically awarded based on financial need, while scholarships are usually based on merit or achievement.
Eligibility:
Scholarships are often based on academic or athletic achievement, while student grants are usually awarded based on financial need.
Application process:
Scholarships typically require applicants to submit essays, transcripts, letters of recommendation, and other materials to demonstrate their qualifications. Student grants usually require applicants to fill out a financial aid form such as the FAFSA (Free Application for Federal Student Aid) to demonstrate their financial need.
Award amount:
Scholarships may provide a larger amount of money than student grants, as they often reward exceptional achievement or potential. Student grants, on the other hand, are generally designed to help students cover basic educational expenses.
Repayment:
Scholarships are usually awarded as a one-time payment, whereas student grants may need to be repaid depending on the terms of the grant or the agency providing the funding.
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Funding source:
Grants may be awarded by the government, private organizations, or educational institutions, while scholarships may be awarded by a variety of sources including schools, businesses, nonprofits, and individuals.
Timing:
Grants may be awarded on a rolling basis throughout the year, while scholarships may have specific application deadlines.
Availability:
Grants may be limited in availability and may be awarded on a first-come, first-served basis, while scholarships may be more widely available.
Renewal:
Grants may need to be renewed on an annual basis, while scholarships may be awarded for multiple years.
Use of funds:
Grants are typically awarded for educational expenses only, while scholarships may have more flexible use of funds, allowing recipients to use the funds for a variety of educational and related expenses.
Concluding Remarks:
Seeking knowledge about student grants demonstrates a larger goal, which only explains ambition.
