are student loans and grants the same thing?

Question

1.whats the difference and
2.which should i apply for being a single mother?
3.are they easy to get approved for,
4.what all do they pay for?
i heard if your a single mother and in school the government will help you with bills (apartment, daycare) anyone know anything about this?

Answer 1

Student loans you have to repay, Grants you don't. What you waht to do is fill out the financial aid packet that you get from your local college or technical college.
The government will send you a report back with what grants and loans you qualify for. You can accept them all or you can turn down any of the ones you don't want.
Remember, consider the student loans, you don't need to start repaying them untill you are out of school for six month and the interest rate is very low, around 3%.
When you fill out the financial aid form it will ask for housing coust, travel, child care etc. make sure you put everything donw that you can think of.
The way it works is if you decide to take all they offer, the checks are sent to the school, you have to be present to sign them. The school takes out the cost of you tuition,books, class fees, ect. and then you get the remaining balance to put towards what ever you need.

Answer 2

1. A Grant is essentially a gift and is not paid back. A Loan is just that. You borrow money and have to pay it back over time.
2. Apply for all Grants you qualify for first. You can get this information at your local Community College or LIbrary. After you have applied for as many Grants as you can then look to loans. Only use loans for what a grant won't cover.
3. Yes and No. You must be qualified for either. Grants are fairly straightforward. Loans are more complicated.
4. They can be used for tuition, books and some required student fees. Some may be used for room and board.

Your last question depends on which state you live in and your current living arrangements. Just because you are a single mother does not mean you qualify for Welfare or WIC (or other program).
Examples: What if Paris Hilton got pregnant as a single mother? Or, what if the single mother was living with parents or relatives?

Please check with your local library on county and state resources for where you live.

Answer 3

No, Student Grants and Loans are not the same thing. A Loan has to be paid back, and usually is borrowed with interest. The Fed Govt has Perkins Loans that you can borrow for your undergraduate education. The interest rate is about 7 percent. There are other loan programs too. Check with the Financial Aid Office of the school you are planning to go to and they can help you. Grants do not have to be paid back. Grants are given by schools and some come from business and professional organizations. Again, the Financial Aid Office of your school will have info. You usually have to apply for loans and grants about a year before the semester you plan on going to school. So get started soon in order to get all your paper work done. Hope I have helped!

Answer 4

The grants are money that is yours, free, no strings attached. Loans must be paid back. Most of the loans are deferred interest, which means they dont build up interest until you have been out of school for 6 months. Being a single mother, I reccommend that you apply for both. At my school, we get about 2000 a semester to put in our pocket. Both of these are really easy to get approved for. The government guarantees the bank that they will get their money, so they never really turn anyone down. The loans and grants pay for anything you want them to. Once the tuition is done, the money is yours to keep. You can buy books, pay rent, or whatever with it. I reccommend that you speak with a counselor at the school that you are going to for more information. They can help you get everything you will need for a loan and grants. Good Luck!!

Answer 5

Student loans aren't the same as grants.
1. Loans you pay back, grants are free money
2. Apply for every grant you can find (as well as any scholarship). Talk to a financial aid counselor for the best information regarding what is currently available.
3. Both are relatively easy to get approved for, the hard part is applying.
4. They are meant to pay for post secondary education, but as long as you are enrolled full-time (usually 12 credits per semester), you can use the money for anything. You get a check, which you can do pretty much anything with. Remember, the money has to last a whole semester, so it is important to be conservative.

Answer 6

A student loan is money that you borrow from a lender, which holds you responsible for paying the loan back when you are through with school. A grant is money issued to a student that does not have to be paid back.

Apply for both grants and loans, that way if you do not receive a grant, you will have the loan process began already. With some loans you are able to choose the amount of money you borrow depending on the amount of hours you are enrolled for. They are generally easy to apply for and obtain. You will usually request a large enough amount of money to pay for tuition, books, and some people even take out a little extra (personal preference) to be used for living expenses.

My advice is to contact a loan lender. They are able to explain the many different types of loans available and can help you decide which one is right for you. Good luck!

Answer 7

I am a single mom in college. First, apply for everything you can. And as others have said a loan is borrowing money that you have to pay back, like your unsubsidized and subsidized Stanford loans. But the terms and interest rates on these loans are fantastic.

A grant, like the Pell Grant is state, federal or some other private sector funded. These are usually based on need and availability.

You can apply for ALL of it at the website below. This will also answer a LOT of your questions.

Answer 8

1. Grants are given to those with financial hardships and are basically gifts from the government - you don't pay them back. Loans, you pay back (with lots of fun interest).
2. Apply for both -- grants will be given according to your needs, so apply for that first, it may cover everything.
3. Depends on your situation, as a single mom, you should be approved for both.. I think they give loans to anyone who's a student.
4. School and Living expenses while you're a full time student.

Answer 9

1. Loans have to be repaid, Grants do not.
2. Apply for all the Grants you think you are eligible for. If that does not cover your expenses then I would apply for Loans.
3. Loans are easier to get approved than most Grants, but the Grants do not have to be repaid.
4. Grants sometimes have certain things they have to be used for, but loans can be used for car payments, rent , tuition just about anything.
There are programs where full-time students can get help with daycare. Some schools also have programs that take care of children as well.

Answer 10

1. Student loans have to be paid back. Subsidized loans don't accrue interest while you're in school, wheras unsubsidized loans do. Grants are basically free money. You don't have to pay any amount of grants back.
2. When you fill out your FAFSA apply for grants and loans. According to what your income is, the school will determine what percent (if any) of your tuition is covered by grants. Whatever is left over will be covered by loans and by your personal contribution.
3. It all depends on your financial situation. If you are in a low income bracket, you will be fare more likely to get grants than someone who is in a upper middle class bracket. Almost everyone is eligible for loans, though sometimes they don't cover the full cost of school and living expenses.
4. They can pay for school and books. Some people are eligible for extra money that covers their living expenses like rent, food, gas, daycare.