| There are many types of financial aids offer | | | | Loan |
| to college and university students. While a | | | | |
| few are gifted aids and do not need to be | | | | A study loan is a financial aid offers to |
| paid back; others are provided as a loan and | | | | students and these money need to be repaid |
| need to be paid back after the completion of | | | | after the completion of the study program. |
| the education program. | | | | Although there are loans offered with zero |
| | | | interest rate by charities, associations or |
| In general, student financial aids are | | | | religions organization, most of loan programs |
| grouped in below categories: | | | | have repayment provisions and repayment |
| | | | interest rate applied. |
| - Grant | | | | |
| | | | Work Study |
| - Fellowship | | | | |
| | | | This program provides jobs that enable |
| - Scholarship | | | | students to earn a portion of school costs |
| | | | through employment at the institution. Many |
| - Loan | | | | colleges and universities offer job to |
| | | | students where they can earn their school fee |
| - Work Study | | | | and part of their living expenses. |
| | | | |
| - Waiver | | | | Waiver |
| | | | |
| What are the differences between these | | | | Under certain circumstances, a college or |
| financial aids? Many people confuse | | | | university may allow a student to attend the |
| especially on grant, fellowship and | | | | courses without paying tuition or other |
| scholarship. Let's take a brief look on these | | | | costs. A certain eligibility requirements |
| financial aids. Grant, Fellowship & | | | | need to be met in order for eligible for the |
| Scholarship A grant is a gifted financial aid | | | | waiver. |
| for a student that does not have to be paid | | | | |
| back. Fellowship is a fund awarded to a | | | | Last Words |
| graduate student in a college or university. | | | | |
| And scholarship is a financial aid usually | | | | Ideally, all students are dreamed to get free |
| awarded based on merit or academic | | | | money (grant, fellowship or scholarship) to |
| achievement. Both fellowship and scholarship | | | | aid their study needs. Although there are |
| are grant. Practically, these terms very | | | | many scholarships available out there for |
| little in different and in fact, these terms | | | | students to apply, beware of "Scholarship |
| are used interchangeably in representing fund | | | | Scam". Remember if you have to pay to get |
| gifted to students to support their college | | | | money, it probably a scam. |
| or university study. | | | | |
| | | | That's all for this time. See you soon. |