In some ways, scholarships and grants have a lot in common. They are both "free money" that you apply for and do not have to repay. You can use either to pay for your education, in most cases, but there are differences between the two. Additionally, each individual scholarship and grant carries specific application requirements that you must meet before you can receive your money.

Financial Source

A grant is money given by a non-profit organization. It might be the government or another corporation. A scholarship can be given by any individual, group or organization.

Grant Requirements

A grant will have specific requirements, but they are generally few in number. For example, it might be that you have to pursue a specific area of study or open a specific type of business.

Scholarship Requirements

Scholarship requirements are generally more explicit than those for a grant. For example, a scholarship might require that you be a specific age, gender or from a particular geographic location.

Proposals vs. Applications

To get a grant, you can often proceed by sending in a proposal to an organization that offers them and ask them for money. You would also explain how much you need and how you would spend it. To get a scholarship, you generally have to apply for a specific scholarship in a particular amount.

Using the Money

Scholarships are for educational purposes. You can use them while you are in school; sometimes you get them from the school itself and other times you get them from a private or public organization. Grant money, however, is often available for other purposes like starting a business or pursuing research on a particular topic.

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Difference Between Scholarship and Grant