Understanding the basics of college grants
November 28, 2011
You may have heard of college grants and scholarships, but do you really know the difference? Although both can help you pay for tuition and additional fees, there is a difference between the two, and knowing the details can make you more aware of your financial situation.
CollegeScholarships.org says that while both scholarships and grants provide you with free money, college grants are specifically need-based. This means that while almost anyone can apply for scholarships, there are more limitations when it comes to earning grant money.
Oftentimes, college grants are given out based on these factors: the student at hand, the desired degree level, the subject matter and minority status. While scholarships may also have similar guidelines, grants are often given out according to these specific limitations.
College grants can be found through the federal government, as well as colleges and private lenders. When you break it down, there is no risk in applying for college grants and scholarships. In contrast to borrowing loans, you don't have to worry about paying this money back. This can provide you with peace of mind as you complete your degree.
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