What is the difference between a student loan, a grant and a scholarship?

How would you go about applying for each of them

What is the difference between a student loan, a grant and a scholarship?

Student loans are like car notes, you pay it back for a loooong time at a crazy interest rate. A grant you apply for and are approved depending on your social status (normally) and you don't have to pay it back. A scholarship is based off of your academic achievements and is not paid back. Much more difficult to get a scholarship.

What is the difference between a student loan, a grant and a scholarship?

Student loans you pay back. Grants and scholarships you don't pay back.

What is the difference between a student loan, a grant and a scholarship?

Student loans=money borrow from a bank or loan company and you have to pay it back after you graduate. A grant is money you are given (usually from the goverment) you do not have to pay back. Scholarship is an award for great performance,it has to be used for college. you don't pay this back, it is free, you earned it.

What is the difference between a student loan, a grant and a scholarship?

Student loan - must be paid back

Grant - does not need to be paid back

Scholarship - does not need to be paid back. usually based on grades

Go to the financial aid office of your school to find out how to apply for each.

What is the difference between a student loan, a grant and a scholarship?

Student loans are just loans that you pay back usually at lower interest rates and lower monthly payments than regular loans. Grants are %26quot;free%26quot; money from the government if you qualify and scholarships are %26quot;free%26quot; money given out by certain foundations and organizations to qualified or deserving persons.

If you check the website of the school you wish to attend there should be a financial aid link you can click on to apply. Also, a book I found extremely helpful when I was looking into financial aid assistance was Free Money for College for Dummies. I found it at Barnes and Noble and it's one of the %26quot;For Dummies%26quot; books.

What is the difference between a student loan, a grant and a scholarship?

you have to pay a loan back...poor people get them