Student Aid: All About Scholarships, Grants, and Loans

Student Aid: All About Scholarships, Grants, and Loans

Scholarships, grants, and loans: What are they all about, and which ones should you use to pay for college? We broke down each option for you here!

We all know that college is expensive. It feels like you’re being charged for just about everything: housing, meals, textbooks, the sun, and the air you’re breathing. Fortunately, there are scholarships, grants, and loans out there to alleviate the immense burden of paying for college. Most high school and college students have the need for scholarships hammered in by the time they fill out their college applications. They might’ve also heard about grants and loans. However, the differences between scholarships, grants, and loans are often confusing in the midst of the stressful college apps season. Are you confused by the differences between college scholarships, grants, and loans? Read on to find out about how these three common forms of financial aid can help you afford the beautiful college sun and fresh college air a little more easily.

Scholarships

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We’ve all heard about applying for scholarships, but what exactly are they? Scholarships are sums of money specifically designated for your education. There are billions of dollars in awards out there, available for anything from sports to academics to any other hobby you may have. The best part about scholarships is that all the money you receive is yours to use for college; it’s totally free to use and free of interest.

It’s up to you to find and apply for scholarships from external sources. However, you may also receive merit- and/or need-based aid from the university you choose to attend, which may or may not be awarded to you immediately upon your acceptance. Leer más

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