If you are from a family that is not financially stable, you may have come across these funding options for your education: either to take study loans or for scholarships. Here is the difference: if you take a student loan, you are only a borrower. And you are expected to repay the student loans within a specified duration, together with interest if specified. As for a scholarship, the awards are given free of charge so long as you meet the eligibility levels. That is to say, you are not required to pay them back.

I have seen a lot of students who misplace student loans for scholarships. They are not the same thing, even though they are all forms of financial aid for students to see for their study costs. There are more striking differences you should take note of. I will be doing justice to that; just read the below article carefully!

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