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Does financial aid mean scholarship

Updated: 8/17/2019
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12y ago

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Financial assistance from the federal and state government are grants.

Financial aid may be a grant (which you don't have to pay back, usually linked to financial need)), a scholarship (which you don't have to pay back, often linked to merit-you may have to maintain a certain average or remain on a team to continue to receive this, or it may be a one-shot deal), a loan (which you do have to pay back) or a job offer (usually on campus--they pay you so that you can pay them.) You need to reapply for financial aid each year.

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