What's the difference between a grant and a loan?

Grants are money you donít have to repay and are usually based on your financial need while loans are money you borrow that you must pay back, usually with interest costs.

The major grants are Cal Grants, federal Pell Grants and some smaller federal grants. There are low-interest federal student loans as well as federal parent loans to help pay for their childís education.

For more information about these federal grants visit http://www.federalstudentaid.ed.gov