The following are the differences between Scholarships and Grants
While the terms scholarship and grant are frequently used interchangeably, there is a difference. Scholarships may have a financial need component but rely on other criteria as well.
Academic scholarships typically use a minimum grade-point average or standardized test score such as the ACT or SAT to select awardees.
Athletic scholarships are generally based on the athletic performance of a student and used as a tool to recruit high-performing athletes for their school’s athletic teams.
Merit scholarships can be based on a number of criteria, including performance in a particular school subject or club participation or community service.
Grants, however, are offered based exclusively on financial need and determined using the applicant’s FAFSA information.
A federal pell grant can be awarded to someone planning to receive their undergraduate degree and is solely based on their financial needs.