In the college financial aid process, what are Grants, Scholarships or Awards ?

Grants, Scholarships or Awards are monies given to students and are not repaid. They may be given for academics, (athletics in Division 1 schools only), demographics or special talent potential. Scholarships, also called "merit aid", are given for academic excellence. Federal government grants, such as the Pell and Federal Supplemental Educational Opportunity Grants, are given based on financial need. There are state grants available based on various criteria. There are specific school grants available based on specific school criteria.