How Is A Student Loan Different From A Scholarship Brainly

 A student loan and a scholarship are two different forms of financial assistance for students, each with its own characteristics:

1. Student Loan:

   • A student loan is a type of financial aid that must be repaid with interest.
   • It allows students to borrow money to cover educational expenses such as tuition, fees, books, and living expenses.
   • The borrowed amount accrues interest while the student is in school, and repayment typically begins after graduation or when the student leaves school.
   • Repayment terms and interest rates vary depending on the type of loan and the lender.
   • Students are required to repay the loan according to the terms agreed upon with the lender, even if they do not complete their education or do not find employment after graduation.

2. Scholarship:

   • A scholarship is a form of financial aid that does not need to be repaid.
   • It is typically awarded based on academic achievement, athletic ability, artistic talent, or other criteria set by the scholarship provider.
   • Scholarships may cover part or all of the cost of tuition, fees, books, or other educational expenses.
   • Unlike loans, scholarships do not accrue interest, and recipients are not required to repay the money they receive.
   • Scholarship opportunities vary widely and may be offered by schools, private organizations, companies, or government agencies.

In summary, while both student loans and scholarships provide financial assistance to students, loans must be repaid with interest, whereas scholarships are grants that do not require repayment.