What Is the Difference Between a Fellowship and a Grant?

The Federal Student Aid is a financial aid for students who are enrolled in a qualified college to pay for school expenses. Higher education institutions include 4- or 2-year public or private higher education schools, vocational colleges, or business colleges. School expenses include tuition and fees, room and board, books and supplies, transportation, etc. Most federal bursaries are set on demand. There are three most common types of federal bursaries: scholarships, loans, and work grants.

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Scholarships are grants that do not need to be repaid. Generally speaking, scholarships are given to university students, and the amount of scholarships depends on needs, admission costs and admission status.

1. The federal "Pell Grants" are the foundation of federal bursaries. Additionally, other federal or non-federal grants can be added. This scholarship is generally given to students who have not yet obtained a bachelor's or master's degree.

2005-2006

The loan must be repaid with interest. Both college students and graduate students can take out loans, and parents of students can take out loans to pay for college students who are not financially independent. The maximum loan amount depends on how long the student is in school. The "Federal Stafford Loans" are loaned to students. PLUS loans are loaned to students' parents. It has two types:

1. "Direct Loans" or "William D. Ford Federal Direct Loan Program": borrowed directly from the federal government by qualified students or their parents at colleges and universities participating in the program "Direct loans" include "Stafford Loans," "Direct PLUS Loans," and "Direct Consolidation Loans."

"2, Federal Family Education Loan (FFEL): Private

Part-time payment is earned by university students or graduate students in school. Work can be on or off campus. Remuneration for work and study must not be lower than the minimum wage. There is no annual maximum or minimum amount for work-in-progress payments.