I was just looking over how much in grant money i have been using through out my college career and i've notice i have a lot of money from grants. So basically im asking if i have to pay that back or do i just have to pay back the Loan money?
2006-11-29 09:30:40 · 5 answers · asked by James J 2 in Education & Reference ➔ Financial Aid
Grants no. Loans yes.
2006-11-29 09:38:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You do not pay back grant money. You only pay back loan money. You can think of grant money like it is a scholarship, it is just given to you without you ever paying a penny for it.
2006-11-29 10:23:29 · answer #2 · answered by Krisie 2 · 0⤊ 1⤋
As far as I know, college grants are like rewards given to study, like a scholarship. A college loan has to be paid back.
2006-11-29 09:39:04 · answer #3 · answered by Feathery 6 · 0⤊ 1⤋
As far as I know, a grant is a "gift"... you've been given the money to use towards your education, and shouldn't need to be repaid.
Loans, of course, DO need to be repaid, and to keep your credit rating from going into the dumps, do NOT be late with loan payments.
2006-11-29 09:39:07 · answer #4 · answered by S L 2 · 0⤊ 1⤋
Grants and scholarships you do not have to pay back; loans you do.
Sometimes grants and scholarships are conditional and if you don't fulfill those conditions, THEN you have to pay them back.
2006-11-30 04:40:46 · answer #5 · answered by Inquiring Mind 19 3 · 0⤊ 0⤋