What Is The Difference Between A Grant And A Scholarship?

These terms seems to be a lot straightforward but people still tend to mix it up. Though both are about financing, there are clear difference between a grant and a scholarship and you are about to find that out now.

What is a grant?

A grant is a form of financial aid that is offered to students by the government. Some colleges may apply for grants from the government to aid in the financial burden of the students. Grants are typically offered for programs or courses that involve a higher degree of scholarship as well. While grants can be used for costs associated with tuition and other academic needs, they are not intended to be a source of long term financial assistance.

They are meant to help alleviate the burden of the students during their time of studies. For many, they serve as a stop gap measure while the student either works to earn enough money to repay the funding or takes out a loan. What is a scholarship? Scholarships are grants that are awarded to students.

What is a scholarship?

A scholarship is not as intense as a grant. A scholarship is a grant or free money which can be taken to college or universities. These funds are usually obtained from individuals, foundations and corporations to be awarded to students based on academic achievement, non-academic qualities or financial need. Students with these scholarships will usually not pay any fees or tuition for the study duration, they are also required to complete certain educational or service requirements. How do they differ? According to the College Board in 2014 there were 1.8 million grant and scholarship recipients at American schools. Scholarships vary in the amount of money and, as mentioned before, are not required to pay fees for tuition.

How do they differ from each other?

A scholarship is an investment, not loan. There is no guarantee of repayment. It usually comes from a company or individual, not from the state, federal, or local government. Students who are selected are usually picked because of their grades, leadership skills, or performance in the community. This type of scholarship usually comes with a small stipend as a monetary reward for the student’s performance. This type of scholarship can usually be applied to the cost of college only. They cannot be used at another school in another state. A grant, on the other hand, is a loan that students receive and are expected to pay back. Most of the time grants are awarded to families who need a financial help for some college expenses, such as tuition. They often come with tax benefits.

Which one should I apply for?

Frequently students and their parents ask themselves, whether or not to apply for any type of financial aid. With the sheer variety of financial aid available, parents and students need to consider the different types available. In addition, every school and college has its own scholarship, financial aid, grant, or loan program. Here are the main types of financial aid available: Federal: This can be a grant, loan, or federally subsidized student loan. State: This is a grant that is directly given by the state of the respective state for the purpose of educating the student in the particular state. Private: This can be a loan and/or grant from private lenders. Reciprocity: This is a grant given from the state of the respective state of the respective state of the United States.

Conclusion

If you have all the other vital information about high school requirements, a nice recommendation letter, and several credits towards an undergraduate or graduate degree, it is possible to apply for a financial aid package. Scholarship applications are rarely a bad idea. Author Bio: Angela Roth is an author of instructional and career-related books for teens and tweens. Angela has written for publications like Scholastic, TVGuide, SYSW Newsletter, and a variety of other well known publications.

All About TheKohls Kids Who Care Scholarship

Kohl’s scholarship was initially called the Kohl’s Cares Scholarship Program, and previously was known as KWC or Kohl’s Kids Who Care Scholarship Program. It was one of the most popular private scholarships for college. Recently over 37,000 applications were received and here is all you need to know about the scheme.

What is the Kohls Kids Who Care Scholarship?

After being selected as a member of Kohl’s Kids Who Care, the KWC member applies for the scholarships and is accepted into the program. It takes about 12 weeks for a new scholarship to be designated for the applicant. Then the money can be transferred to the new scholarship account for the college or vocational school they choose. This is also known as “signing up” for the scholarship.

 

Who can Apply for this?

Most students are involved in the community and in 4H clubs, community theater groups, and other extracurricular activities. But this scholarship is only for grades 10-12. Students can be single, married, or they have a couple or even kids. There are no other applicants. They also cannot be seeking scholarships from other organizations. Only students are eligible for this scholarship.

Can students apply as a “bonus” to other scholarships? Yes! This scholarship is designed to provide financial aid for deserving students. It is used to help students in need. It also is meant to provide a larger scholarship for more students. What is the deadline? The deadline for filing the application for the Kohl’s Cares Scholarship Program is November 30th.

How to Apply

You can submit an application online on this link. You can also print this application form out and mail it to your local Kohl’s store along with the original copy of your child’s school transcripts and the two letters of recommendation from teachers, principals, and counselors, according to Kohl’s website.

Fill out the application and attach your forms. Wait for a response from the school. The program is designed to grant over $500,000 in scholarships since 2003. If you don’t qualify for a Kohl’s scholarship you can apply to the Kohl’s Kids Who Care In-Store program.

If your child meets the criteria you can request a nomination form by calling your nearest Kohl’s store. You will also need a paper copy of the transcripts for two years.

What are the Requirements?

There are only a few requirements to get the Kohl’s Kids Who Care Scholarship Program: Students have to be currently enrolled at a qualifying high school in Arizona, California, Florida, Hawaii, Louisiana, New Mexico, or Texas Students are required to have a 3.0 grade point average. Students must volunteer one hour of their time per week to a non-profit organization.

How Does The Kohl’s Kids Who Care Scholarship Program Work?

Kohl’s runs a few different programs that benefit the community. One is called Kohl’s Cares and helps fund local schools. Each year, for one week in May, Kohl’s hosts a “Kohl’s Cares Week,” where kids and teens volunteer in the community. Students spend the week volunteering in the community, making a difference in kids lives.

What Does it Include?

The Kohl’s Cares Scholarship Program application requires one to complete a 15 question essay that asks about a cause the applicant would like to work with or donate to, and an entry form. A video and resume must also be included. The application must be submitted to an approved writing service.

Who Is Eligible?

The scholarship is open to anyone over the age of 18. There is no age cap. College-bound high school seniors are preferred but there is an exception for students graduating from elementary, middle school or other early high school.

Who Is Not Eligible?

There are some specific rules. While the Kohl’s Cares Scholarship Program is intended to be a merit scholarship, there are many different kinds of scholarships.

Conclusion

The federal loans offer more interest but can be claimed by anyone regardless of family income. However, private loans are more flexible. Of course, either option can be obtained at interest rates of 9.1 percent to 11.9 percent. Kohl’s Cares scholarships only require 15.8 percent to be paid back. Are there still private scholarship money left? As a family financial expert, I know that people are still applying for scholarships.

 

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