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There are many types of financial products offer to college and university students. While a few are gifted aids and don't need to be paid back; others are presented as financing and need to be paid back after the end of the education program.
Generally, student financial aids are arranged in below categories:
Grant
Fellowship
Grant
Mortgage
Work Research
Waiver
What are the differences between these financial products? Lots of people confuse particularly on grant, fellowship and scholarship. Let us have a brief look on these financial products. Fellowship, grant & Scholarship A grant is a talented educational funding for students that will not have to be reimbursed. Fellowship is a fund granted to a student in a university. And grant is a financial aid generally granted based on value or academic achievement. Both fellowship and scholarship are grant. Practically, these terms almost no in numerous and actually, these terms are employed interchangeably in addressing account skilled to students to aid their university study.
Mortgage
A study mortgage is a school funding provides to students and these money need to be repaid after the end of the study plan. Although you can find loans provided with zero interest rate by charities, groups or religions company, the majority of loan programs have repayment interest rate applied and repayment provisions.
Work Study
This program provides jobs that enable students to generate some of college fees through work at the company. Many colleges and universities offer job to students where they can make their school fee and section of their living expenses.
Waiver
Under certain circumstances, a college or university might allow students to wait the classes without paying tuition or other costs. A specific eligibility requirements have to be met so as for eligible for the waiver.
Last Words
Ultimately, all students are believed to get free income (grant, fellowship or grant) to aid their research needs. While there are many scholarships available out there for students to apply, avoid "Scholarship Scam." Remember if you have to pay to obtain money, it probably a con.
That is all for this time. See you soon.
The next time we will speak about "Scholarship scam" and how exactly to protect your self from these scholarship cons. article
