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FAQ of the week

FAQ of the week
October 27, 2008 collegeplan

Happy Monday! I wish you all have an amazing week! I wanted to start off this week with a little Financial Aid "Vocabulary" lesson.

Question: What is the difference between a scholarship and a grant?

Answer: In the language of admission and financial aid offers, a scholarship and a grant are basically the same thing. Each is considered "gift aid" which means they do not need to be paid back.
However, this doesn't mean there aren't some "strings" attached.
Many scholarships and grants require the recipient to focus study in a particular major. Others have a grade average requirement to keep the scholarship or grant over the college experience. Students need to make certain they know the conditions under which they accept and can maintain gift aid.

Don't forget to check out my website for the few upcoming workshops I am having before the end of the year.

www.collegeplanningexperts.com

Best regards,

Brian

 

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