Thursday, October 21, 2010

What's the difference between a Scholarship and a Grant?

S. No. Scholarship Grant
1 Scholarships are provided by organizations not necessarily non profit organizations A Grant is a financial aid provided by non-profit organizations.
2 A Grant is a financial aid provided by non-profit organizations. Grants are generally tax exempt
3 A student is required to fulfill certain requirements before and after the scholarship is granted, like maintaining a required GPA. Students are required to provide a details about the project for which grant money was awarded to them.
4 Scholarships are granted to those students who fulfill a specific academic performance, and should apply for the same in order to avail the benefits of scholarship. For receiving a grant the student/individual/organization is first required to apply to the donor along with the details of the project that requires funding.
5 Scholarships are not necessarily issued by government organizations. Sometimes, money is given out by government in the form of grants to correct financial imbalance that arise between taxation and spending.
6 Scholarships are specifically granted for gearing up college education. Grants are given under a variety of circumstances namely financial assistance to students, entrepreneurs, small business people, and victims of natural disaster.
7 While some scholarships are based on gender, others are based on the field of study the student is majoring in. Grants are generally issued for a cause.
8 After the scholarship is granted, the student is expected to maintain certain level of academic performance to qualify for the scholarship program. Individuals and organizations receiving grants are required to present a detailed report on the project for which the grant was issued in order to ensure proper utilization of funds given by way of grants.

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