The Differences Between Grants, Scholarships, Work-Study and Loans

Written by The LCU Blogging Team on Tuesday, October 10th, 2017 in Financial Aid, Grants, Loans, Scholarships

If you plan to apply for college financial aid, you’re certainly not alone. After all, statistics show that 85% of four-year college students receive some financial assistance to help pay for their education.

While there are a variety of ways to receive financial aid, the most common types are grants, scholarships, work-study and loans. Here’s a look at all four while highlighting the differences between them and the pros and cons associated with each.

Grants

The terms “grant” and “scholarship” are sometimes used interchangeably, but there are differences. Both grants and scholarships come from similar sources,

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