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