A scholarship is a money-based award specifically designated for education-related expenses. Qualification for scholarships depends on the individual scholarship program and awards can be based on merit, talent, or academic performance.

Grants are gift aid awarded to students often based on financial need. They typically come from the state government, federal government, non-profit organizations, and schools.

A loan is money that you borrow with the expectation that you will pay it back, within a deadline laid out by your lender.

Source: https://www.collegeavestudentloans.com/resources/differences-between-loan-scholarships-grants/ 

Attending college involves more than simply the cost of tuition (which can vary significantly depending on the institution you plan to attend).

Costs to factor in (also known as cost of attendance):

• Tuition: May be charged by the semester or by the credit hour taken. 

• Fees: May include fees for technology, library, athletics, labs, etc.

• Room & Board (on-campus or off-campus living expenses)

• Transportation

• Books/Course materials

• Miscellaneous Expenses

Published tuition prices on school websites do not factor in any scholarships or grants that a student may earn to reduce the overall tuition cost.

If you are considering attending an in-state, South Carolina public institution, the South Carolina Commission on Higher Education has put together a step-by-step guide for paying for college.  

This reviews all steps, including:

• Determining South Carolina residency

• State Scholarships and Grants

• Federal Aid (FAFSA)

• Student Loans

Students considering an out-of-state or private institution will also find this information helpful, especially in relation to the FAFSA and Student Loans options.

Colleges use FAFSA data to determine financial aid eligibility and award amounts for both Federal and State financial assistance.  You must complete this process every year while you are planning or attending school.  Regardless of your family's income, all students are encouraged to complete the FAFSA.

For the upcoming FAFSA (scheduled to open in December 2023), a number of changes have been made to the FAFSA form.  Be sure to familiarize yourself with the process, apply for your FSA ID and submit your FAFSA as early as possible once it opens.

FAFSA Website

Federal Grant programs include the Pell Grant and TEACH Grant.

South Carolina provides direct support to students pursuing higher education through a number of need-based and merit-based scholarships and grants, however you must prove residency in the state of South Carolina to apply for state-funded financial aid. 

Scholarships & Grants Include:

• SC Need-based Grant

• Lottery Tuition Assistance

• SC Hope

• LIFE Scholarship

• Palmetto Fellows

Please review the guidelines for both eligibility and renewal on the South Carolina Commission on Higher Education's website.

Federal and state education benefits may exist for veterans, service members, spouses and dependents.

Requirements/qualifications vary based on the service member’s time in service, discharge status, etc. It is up the veteran and their dependent to work with the federal and/or state VA to determine and apply for benefits. 

Colleges & universities typically have certifying officials in either the Registrar’s Office, Financial Aid or Veterans Affairs Office who then work with the military/VA to verify and disburse funds. Colleges do not determine or apply benefits on your behalf.

Students/veterans should research and apply for VA Benefits during their senior year at the latest. Benefits available may not necessarily cover all up-front costs of colleges and vary based on the veteran’s service/situation. You must apply for federal and state education benefits separately.

Dependent Federal Benefits
https://www.va.gov/education/

• Chapter 33 Post-911 GI Bill Transferred Benefits: Covers tuition and required academic fees, book stipend and monthly stipend

• Chapter 35 DEA: Monthly stipend for dependent of 100% disabled veterans

Dependent State Benefits
https://scdva.sc.gov/education
SCDVA Tuition Assistance Program: Waives tuition fee at participating SC public college and universities; Can be used with federal VA benefit.

*Not all veterans/dependents qualify for the benefits listed above and other chapter benefits do exist -be sure to do your research and speak with the VA and SCDVA regarding your specific circumstances. Catawba Ridge staff cannot tell you what you will qualify for.

Additional funding sources may be available to you, including:

• Scholarships

• College-specific scholarships & programs

• Teaching Fellows Program 

• SC Tuition Grants (Need-based grants for SC residents attending SC non-profit, private institutions)

• Student Loans

  • Federal Loans: Direct Subsidized Loan (demonstrated financial need), Unsubsidized (not based on financial need) and PLUS Loan for Parents

  • SC Student Loans: PAL In-School Loan, SC Teachers Loan

  • Private Loans