<p>What is the difference between a university grant and a scholarship?</p>
<p>A "grant" usually refers to money given based on financial need, whereas "scholarship" usually means money given based on merit. Typically a student may have to earn a certain GPA in order to keep or renew a "scholarship"; however, some scholarships may also require a showing of need.</p>
<p>When you attend schools that give large amounts of institutional aid (ivies and the other elites), while you may have financial need (grant) , it is not unusual for your aid package to read scholarship.</p>
<p>College Scholarships are usually renewable if you maintain a certain GPA. Private scholarships for those with financial need are the best thing since sliced bread for the SCHOOLS! That money is reduced dollar-for-dollar from the school's own financial aid. Private scholarships have been referred to as the Billion Dollar Rip-off! If you don't qualify for need-based aid - great, otherwise, caveat emptor!</p>