Answer:
Student Loan:
borrowed money that needs to be repaid
part of credit history
Grant or Scholarship
given on the basis of financial need
Given based on academic achievement and financial need
The major difference between loans and scholarships is that loans will have to be repaid and scholarships do not.
Explanation:
ANSWER:
Student Loan:
It's borrowed money that needs to be repaid.
It becomes a part of a person's credit history.
Grant or Scholarship
It's given based mainly on a student's financial need.
It's given based on a student's financial need as well as academic achievements.
