Grant Vs Loan – The Difference between a Grant and a Student Loan
Grant Vs Loan – How to Choose
This video explains the difference between a grant and a student loan in the financial aid process for college. A grant is free money that the student never has to pay back. A loan is money that must be repaid in full with interest. Students should accept any grants that are awarded in their financial aid offer. When deciding whether to accept or reject a student loan, students should remember that this money will have to be paid back eventually. It is very difficult to get rid of student loans and nearly impossible to have the discharged in bankruptcy, so students should be cautious about the amount of money they borrow.
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This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD.
Edspira’s mission is to make a high-quality business education accessible to all people.
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