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