What is the difference between Scholarship and Student Loan?

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Financial assistance is a necessity for many college students, particularly those who have opted for longer courses. Whether through scholarship or student funding, this type of grant can help you build your professional future with more peace of mind. Understand in this post what are the differences between these modalities!

What is student loan estimate?

College funding aims to help regularly enrolled undergraduate students pay for their studies at private institutions of higher learning.

The programs work in a similar way: the student requests funding for a semester and receives easier conditions to make the payment, such as a 50% reduction in tuition and double the time to pay, for example.

This initiative promotes the democratization of access to academic training and professional qualification, benefiting people who otherwise would not be able to afford such an investment.

Here are some options to pay for your college in Recife:

UBEC Student Installment (PEU)

This is an exclusive program for students at Faculdade Imaculada Conceição do Recife (FICR), where you can pay half your tuition in installments and pay it twice as long and without interest. The conditions are as follows: you must be a freshman, be regularly enrolled in the initial classes, have a family income of up to two minimum wages per person and have a guarantor.

Student Financing Fund (FIES)

Created by the Federal Government through the Ministry of Education, FIES helps you pay for higher education courses at private educational institutions. In this modality, you can carry out up to 100% of your college funding. To participate, the college of your choice must obtain a positive evaluation in the National Higher Education Assessment System (SINAES) and you must meet the requirements, such as having taken ENEM, for example.

What is a student grant?

Scholarships are an excellent alternative for those looking for options to pay for one of the colleges in Recife. Generally, a performance evaluation criterion is established – an institution-specific test, ENEM or vestibular – and, based on that, the best classified students are selected for granting the benefit.

Check out some scholarship programs to help you realize your dream:

University for All Program (PROUNI)

Created in 2004 by the Federal Government, PROUNI aims to promote access to private Brazilian higher education institutions for low-income students. The candidate must take the ENEM, which will be used as a performance evaluation and classification instrument for the subsequent granting of 50% and 100% scholarships.

One of the requirements is that the candidate has studied all High School exclusively in public schools, in addition to not having a higher education degree. Enrollment takes place twice a year, once in the first and once in the second semester.

Social Scholarship

It is a Benefit Granting Program (PCB) of the Faculdade Imaculada Conceição do Recife (FICR). Regularly enrolled students are selected to compete for full (100%) and partial (50%) scholarships. To participate, you must meet the requirements set out in the public notice published during the grant period.

After all, what is the difference between a scholarship and a student loan?

Student financing is  a form of university credit.  That is, it works in a similar way to a loan, but with easier payment terms for students.

If you meet the requirements of the chosen program, the benefit is available and you have a certain time to pay your financial obligations with the institution that granted you.

The best part of student funding is not having to wait to start studying, as there are admission opportunities throughout the year. Bureaucracies are getting smaller and there are initiatives with very affordable interest rates for university students.

The student grant is  an initiative that pays for your studies,  that is, you don’t have to pay anything for it, either now or later. It is enough to do well in the test used to evaluate your performance, such as ENEM or own entrance exam and meet the other criteria of the specific public notices, such as low income.

The main advantage of the scholarship is financial security and stability, after all, there are no interest or fees. On the other hand, many programs require you to maintain a certain average and frequency in order to maintain the benefit. This can be particularly challenging for students who need to juggle college with other activities, such as work and family responsibilities.

Did this content help you better understand how the scholarship and student funding works? Also read:  “Is it worth seeking out student financing?”

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By Michael Caine

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