By Cara Newman, YOUNG MONEY Editor
5 October 2009

Grants are given by non-profit organizations, like the government, and are usually tax exempt. Grants are often given for specific projects and the recipient must provide updates on the project. Grants are given to students, entrepreneurs, victims of disasters—there are billions of dollars in grant money. If you pass the application process and receive a grant then you might not have to maintain certain requirements. To find more information about grants and get a free guide to thousands of grants visit www.findacollegescholarship.com.

 Scholarships are also given by governments and foundations but a scholarship is for students and is a form of financial aid. In fact, the main difference between scholarships and grants are that scholarships are for people going to college. Scholarships have requirements—both before and after they’ve been obtained, such as minimum GPA’s and number of credits taken. For a free guide listing thousands of scholarships visit www.findacollegescholarship.com.

Neither grants nor scholarships have to be paid back. If you are looking for money to go to school try to find grant and scholarships first before you look into getting a student loan.