For graduate students, financing advanced education can feel like climbing a mountain while carrying a backpack full of bricks. Between tuition, research expenses, and living costs, the financial burden adds up quickly. Thankfully, there are two powerful funding options that can lighten the load: education grants and scholarships.
While both can reduce or eliminate the need for student loans, they are not the same thing. Understanding their differences can help you target the right opportunities and maximize your chances of receiving aid.
1. What Are Education Grants?
Grants are need-based financial awards—meaning they’re typically given to students who demonstrate financial need rather than academic or extracurricular excellence.
Grants are often funded by federal and state governments, universities, or private organizations, and they do not have to be repaid (as long as you meet any ongoing eligibility requirements).
Key features of grants:
- Awarded based on financial need
- Often require submission of financial documents (e.g., FAFSA in the U.S.)
- Funds may be used for tuition, research, living expenses, or other education-related costs
- Typically available to both part-time and full-time graduate students
Example:
The Federal TEACH Grant provides funding for students pursuing graduate programs in education, with the requirement to teach in a high-need field for a set number of years after graduation.
2. What Are Scholarships?
Scholarships are merit-based (or sometimes talent-based) awards that recognize achievements in academics, research, leadership, athletics, or other areas.
Unlike grants, scholarships aren’t typically based on financial need—though some combine merit and need-based criteria.
Key features of scholarships:
- Awarded for academic excellence, research achievements, leadership, or other accomplishments
- Often competitive, with strict eligibility criteria
- May require essays, recommendation letters, or project proposals
- Usually don’t require repayment
Example:
The Fulbright U.S. Student Program offers scholarships for graduate students to study, research, or teach abroad, emphasizing cultural exchange and academic excellence.
3. Grants vs Scholarships: Side-by-Side Comparison
| Feature | Grants | Scholarships |
|---|---|---|
| Basis of Award | Financial need | Merit, talent, or achievement |
| Funding Source | Government, universities, nonprofits | Universities, private donors, corporations |
| Repayment Required? | No (unless eligibility rules are broken) | No |
| Application Process | Usually tied to financial aid forms | Usually requires separate application |
| Common Recipients | Students from low-income backgrounds | High-achieving students in any income bracket |
4. Which One Should You Apply For?
In many cases, you can and should apply for both. Here’s why:
- If you demonstrate financial need, grants can significantly reduce your out-of-pocket expenses.
- If you have strong academic or professional achievements, scholarships can supplement grants and make your education nearly free.
Pro tip: Many graduate programs automatically consider admitted students for scholarships, but grants often require separate financial aid applications.
5. How to Increase Your Chances of Winning
For Grants:
- Submit your financial aid forms (e.g., FAFSA) early.
- Keep all required documents organized and updated.
- Check both federal and state-level opportunities.
For Scholarships:
- Maintain a strong GPA and academic record.
- Build leadership experience and participate in relevant research projects.
- Craft compelling application essays tailored to each opportunity.
6. Final Thoughts
For graduate students, education grants and scholarships are more than just funding—they’re opportunities to focus on your studies without drowning in debt. While grants open doors for those with financial need, scholarships reward talent and achievement.
By understanding the differences and applying strategically, you can combine both to create a solid financial foundation for your graduate education.