Really Dumb Question Forum

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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TeddyMuir

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Really Dumb Question

Post by TeddyMuir » Fri Jan 28, 2011 3:57 pm

What is the difference between a scholarship and a grant?

sarahh

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Re: Really Dumb Question

Post by sarahh » Fri Jan 28, 2011 4:31 pm

TeddyMuir wrote:What is the difference between a scholarship and a grant?
You may find this helpful:
http://www.educationgrant.com/2009/07/0 ... nd-grants/

Scholarships are often awarded based on merit whereas grants are commonly awarded based on need.

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rinkrat19

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Re: Really Dumb Question

Post by rinkrat19 » Fri Jan 28, 2011 6:48 pm

Some schools use the words interchangeably.

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androstan

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Re: Really Dumb Question

Post by androstan » Fri Jan 28, 2011 7:44 pm

One distinction that is sometimes overlooked is the difference between "need-based aid" and "need-based grant".

Need-based aid could be federally subsidized loans. It "aids" you because it's easy to get and will pay your way through, but eventually you have to pay it back. A grant is essentially free money.

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