Scholarships do not have to be repaid, and you can have more than one at a time. Generally, scholarships are awarded to students who meet specific qualifications, often determined in a list of criteria for applicants. When you are searching, look for renewable scholarships, such as ASU’s Carr Academic Scholarships, which reduce your expenses for the duration of your college education.
Loans must be repaid with interest. Long-term options include student loans, such as the Federal Stafford or Federal Perkins loans, and parent loans, such as Federal PLUS loans and private student loans, also known as alternative education loans. ASU also helps facilitate emergency short-term loans.