Whenever a student enters college, especially those who belong in a family that earns an average income, the sole thing that pressures them is the expensive amount needed for the education, which almost crushes them financially to the ground.
Money, is the established traditional excuse for the financially unprivileged students to fail in pursuing their college education, it has always been the issue, worn out by time.
However, this issue is by far resolved when the scholarship became accessible to the disadvantaged. Through scholarships, the expenses for college became easy for the students.
To most people, the term scholarship is likewise used up by time. But how far do we really understand the term “scholarship”?
It is a fact that for most students and parents the term scholarship can still be confusing. Whenever they hear the term, they directly associate it to free tuition and fees, students’ loans, and grants.
But knowing the exact process of scholarship could save you and your parents’ purse from too much drainage of money, most probably tens of thousands of dollars, as the scholarship takes charge of your education.
Basically, scholarship are monetary grants given by the state government, public and private institutions and organizations, college, institutions, charitable foundations, guilds and the like for educational use.
Additionally, scholarship is different from student loans, the scholarship gives off money without the condition of repaying it. While the student loans involve the agreement of repaying the borrowed money to supplement the students’ college educational expenses at a certain time, and with the corresponding interests.