For students who are facing the problem of leaving school for
lack of money for fee, there are many programs held by private
people and corporate institutions, movement and civic
organizations to help them. The most common and best types for
financial aid for school are scholarships and grants. They have
great likeness. The difference is that scholarships are limited
to educational funding while grants may address any financial
concerns or any sector of society.
Neither of the two sources of financial aid for school requires
the beneficiary to pay back the amount. In this sense, they are
very different in nature from educational loans. Because of
this, a commensurate restriction is imposed on who will be
judged as qualified to benefit from scholarships and/or grants.
While anyone with the correct credit profile can make a loan,
not all are eligible for scholarships and grants.
Scholarships evaluate the qualification in terms of the merit
and the need of the student. In this regard, scholarship
financial aid for school may be merit- or need-based. To apply
on the basis of academic merit, the student should have made a
good, if not impressive showing, in school. This is evaluated
in terms of comprehension as well as personality traits, with
emphasis on the first. A certain minimum GPA could be imposed
by some scholarships.
Need-based scholarships are more humanitarian in nature and are
created for subordinate ethnic groups which includes pure
aborigines. Need-based financial aid for school may also be
approved for students whose professions make it possible for
them to devote some of the early years in their career to
public service in depressed areas. If you are studying to be a
nurse, for instance, and have a reasonably good record in
school and are not adverse to working among undeserved
populations, you make a very good candidate for this kind of
One thing which distinguishes a grand from a scholarship is the
fact that a grant is approved as a funding for a project. This
project may be the schooling of an individual, putting up a
small business venture and such like. The applicant of a grant
should therefore submit a feasibility or project study to the
granting institution. This document should contain the steps
and processes to be undertaken as well as a detailed
description of the expenses for each stage.
Like scholarships, a grant financial aid for school may be
awarded not solely on the academic merit of the student
applying, but equally on the usefulness of his course for
society. We therefore also have merit-based and need-based
Because grants are considered to be projects, if it is awarded,
the beneficiary is required to make periodic reports to the
granting agency to update them on the progress of his studies.
Unlike scholarships, grants are more closely subjected to
If you are a serious-minded student, there is nothing wrong
about availing of both scholarships and grants to support your
studies. There are typically hundreds of thousands of programs
for financial aid for school that are opened annually by
concerned establishments. It will not be hard for you to find
both a scholarship and a grant financial aid for school
suitable for your purposes and qualifications.
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