What is a Scholarship?

     Scholarships are very similar to grants because there are no requirements to repay the funds. Scholarships are awarded to students to cover educational expenses. Choosing when, where and how to apply for a scholarship can be determined by the student based on his or her grade average, his or her skills, and or his or her levels of interest.

What is a Student Loan?

     A student loan is utilized by the student to help that student to pay for his or her educational expenses. Specific expenses may vary from room and board at the university he or she attends or plans to attend, course textbooks and college tuition. Student loans are borrowed funds that are expected to be repaid with interest. Generally, a favorable rate is presented and subsidized by the government. When continuing students choose enroll at their university of choice, they have the opportunity to borrow money from collages, from the bank, or the government.