Scholarships vs. Grants

Different Between Scholarships and Grants

Both scholarships and grants help us financially for our college education by providing us with free money for various expenses. Both of them provide free money which is not supposed to be paid back unlike loans. But they still contain a lot of dissimilarities. Therefore one should explore all possible modes of financial assistance rather than opting for student loans.

Grants

These are a non-profit source of money that is given out by the government and private establishments. There is a need based grant and a merit based grant. Need based grants are given out to those who are not that financially strong to support themselves for further education. Whereas a merit based grant keeps in mind the talent of the student if he or she is financially weak.

Scholarships

The main sources of scholarships are educational institutions, employers, companies and organizations that have set p an eligibility criteria based on gender, race, financial status etc.

If you want to start your own venture, you will be given grants. Moreover grants are given out for community welfare, for NGO’S programs, environment based matters, legal services, studies based on agriculture and science, sports, arts and culture. Grants focus more on the purposeful requirement of the individual and not the personal needs like purchasing a car. It basically aims at providing help where the welfare of the society is aimed at. For example, educational grants improve the quality of colleges and training centers which is advantageous to the students of that region.

 

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