Scholarships vs. Grants vs. Loans: Key Differences 2026
Sources & Methodology
- Federal Student Aid (StudentAid.gov)
- U.S. Department of Education
All figures are estimates based on publicly available data. Use the linked calculators to model your own situation.
Related Calculators
Frequently Asked Questions
What is the difference between a scholarship and a grant?▼
Both are generally free money, but scholarships are usually merit- or criteria-based while grants are usually need-based.
Do loans have to be repaid?▼
Yes, with interest. Federal loans include protections private loans often lack, but borrowing should be minimized.
What aid should I use first?▼
Free money (grants, scholarships) first, then earned money, then borrowed money as a last resort.