Grants and
scholarships are often called “gift aid” because they are free money, financial
aid that doesn’t have to be repaid. Grants are often need-based,
while scholarships are usually merit-based.
Grants and
scholarships can come from the Federal Government your State Government, your College or Career School, or a private or non-profit organization. Do your research, apply for any grants or scholarships
you might be eligible for, and be sure to meet application deadlines. The differences
between the two are often to be mistaken. That’s why we want to explain them
both, so you are pretty sure of what is it that you are applying to.
While
both scholarships and grants allow students to pay for their tuition without
having to pay the money back, there are a number of key differences between the
two. Knowing the difference between grants and scholarship will make it much
easier for students to fund their education. To best define the differences, I
want to define both grants and scholarships separately.
A grant is money that is given by a non-profit organization that
will generally be tax exempt. One of the best examples of this organization is
the government. However, corporations or foundations may also provide grants to
students as well. Grants will generally be given for a project, and the student
will be expected to report information about the project to the donor.
Grants vary widely in their requirements, amounts, and expectations. It has been estimated that there are billions of dollars available in grant money, and they rival scholarships in terms of their cost. The first step in getting a grant is for a student to send a proposal to the donor. The proposal may be based on a project the applicant is interested in, or it may be a response to a request that is made by the funder. Grants can be given under a variety of different circumstances. Some grants may be given to people who are victims of natural disasters, and there are a large number of grants available for entrepreneurs and small business people.
The government will frequently give out grants as a result of fiscal imbalances. These imbalances will generally occur between taxation and spending, and the government will simply give away the money as grants to create balance. The government will also provide grants to students who are attending colleges and universities.
Grants vary widely in their requirements, amounts, and expectations. It has been estimated that there are billions of dollars available in grant money, and they rival scholarships in terms of their cost. The first step in getting a grant is for a student to send a proposal to the donor. The proposal may be based on a project the applicant is interested in, or it may be a response to a request that is made by the funder. Grants can be given under a variety of different circumstances. Some grants may be given to people who are victims of natural disasters, and there are a large number of grants available for entrepreneurs and small business people.
The government will frequently give out grants as a result of fiscal imbalances. These imbalances will generally occur between taxation and spending, and the government will simply give away the money as grants to create balance. The government will also provide grants to students who are attending colleges and universities.
Like grants,
scholarships are money that is given by governments and foundations. A
scholarship is a form of financial aid that is specifically geared towards
students who are attending college. It is used as a way of financing their
education, and it may pay a part of their education, or it may pay the entire
cost of a student's tuition.
University scholarships will require students to meet certain requirements, both before and after they've obtained it. Most of these scholarships will require students to have a minimum GPA, and they may also require them to take a certain number of credit hours within the first 12 months of their schooling. While some scholarships are based on gender, others are based on the field the student is majoring in. The key difference between scholarships and grants is that scholarships tend to have more rigid requirements for selection, and they are specifically geared towards those who are entering college.
University scholarships will require students to meet certain requirements, both before and after they've obtained it. Most of these scholarships will require students to have a minimum GPA, and they may also require them to take a certain number of credit hours within the first 12 months of their schooling. While some scholarships are based on gender, others are based on the field the student is majoring in. The key difference between scholarships and grants is that scholarships tend to have more rigid requirements for selection, and they are specifically geared towards those who are entering college.
If you can successfully get enough scholarships and
grants, you should be able to fund the cost of your education without having to
borrow a great deal of money. If you don't plan on attending college, or you
find that you don't meet the requirements for most scholarships, you will want
to look at grants as an alternative.
If you are interested in earning your degree, you will want to place a higher emphasis on scholarships. No matter which option you choose, you will be required to do a great deal of work and research. Neither option will be easy to achieve, but the rewards make it worthwhile.
If you are interested in earning your degree, you will want to place a higher emphasis on scholarships. No matter which option you choose, you will be required to do a great deal of work and research. Neither option will be easy to achieve, but the rewards make it worthwhile.