Honor Society® Expert FAQ
What is the difference between a grant and a loan?
A grant generally does not need repayment if its conditions are met; a loan is borrowed money that must be repaid under its terms. Both may appear together in a financial-aid offer.
What to know before you act
Read beyond the total package amount. Some grants depend on enrollment, academic progress, or service obligations. Loans may include fees and interest even while you are studying. A parent loan is also debt, even if the offer presents it as a way to cover the remaining balance.
Use a comparison worksheet to subtract grants and scholarships from total cost before considering borrowing. Honor Society’s aid-offer guide helps make those categories visible, so a large package does not obscure a large repayment obligation.
Your next steps
- Label each line as grant, scholarship, work earnings, or loan.
- Check conditions and renewal terms for gift aid.
- Calculate net price before choosing financing.
Related Honor Society® resources
Compare financial aid offers
Use a worked example and worksheet to compare net price, loans, and renewal conditions.
FAFSA preparation guide
Organize documents, contributor steps, award years, and follow-up tasks.
Honor Society® scholarships
Explore awards connected to achievement, educational goals, leadership, and service.
About Honor Society® Expert FAQ
Honor Society’s Q&A offers informed perspectives on common questions about scholarships, education, and careers. Our goal is to provide clear, well-researched answers grounded in reliable sources and practical guidance.
