What is the Difference Between Scholarships and Grants?

The main difference between scholarships and grants lies in the criteria for eligibility and the application process. Here are the key distinctions:

Scholarships:

• Scholarships are typically merit-based, awarded to students based on their academic achievements, extracurricular activities, field of study, and more.
• They may require the student to maintain a certain GPA or fulfill other requirements to renew the award.
• Scholarships are offered by various sources, including colleges, private organizations, and corporations.

Grants:

• Grants are generally given based on financial need.
• They may have specific eligibility criteria, such as demographic factors, ethnicity, religion, or unique life circumstances.
• Grants are often awarded by government departments, corporations, foundations, or trusts.

Both scholarships and grants are types of gift aid, meaning they do not need to be earned or repaid, unlike student employment and student loans. While some scholarships and grants share similarities, such as requiring a minimum GPA for renewal, the primary difference lies in the factors that determine a student's eligibility for each type of aid.

Comparative Table: Scholarships vs Grants

The main difference between scholarships and grants is that grants are typically based on financial need, while scholarships are usually merit-based or awarded based on specific criteria such as academic achievements, extracurricular activities, or field of study. Here is a table summarizing the differences between scholarships and grants:

Both scholarships and grants are forms of gift aid, meaning they do not need to be repaid, unlike student loans. To find and apply for scholarships, you can use scholarship matching tools or consult state scholarship dashboards. To apply for grants, you should submit the Free Application for Federal Student Aid (FAFSA) or other relevant financial aid forms.