What's the difference between a scholarship and a fellowship?

Question

What's the difference between a scholarship and a fellowship?

Answer 1

What is the difference between a scholarship, a fellowship, a grant and a loan?

A scholarship is an award given by an organization or institution to fund the education of a selected student. Usually, the award can be used for tuition, books, room and board, research, travel, or other education related expenses. A fellowship is similar to a scholarship except it generally involves some sort of internship. There are always exceptions to this distinction. A grant funds a student's education and in most cases does not have to be paid back. A loan does have to be paid back but some college loans do not collect interest until the student graduates.

Who can apply for scholarships?

Generally anyone can apply for a scholarship but each scholarship has it’s own criteria. Make sure that you fit the criteria of the scholarship.

Are there academic criteria for scholarships?

Most scholarships prefer students who are in good academic standing at the time of application. Sometimes scholarships will include a GPA requirement. If a scholarship does not include a specific requirement but states it requires good academic standing, do not assume that you are not in this category. Scholarships have different perspectives on what qualifies as “good standing.”

How long do scholarships last?

Most scholarships last for an academic year. Most scholarships will specify if they are renewable or fund multiple years. Check whether or not the scholarship is renewable in funding your education.

http://www.ufo.psu.edu/faq/index.cfm

Answer 2

Scholarship is free money to go to school.

Fellowship is money granted (by a university or foundation or other agency) for advanced study or research. The difference is the degree of academic study. Scholarships are usually for generalized study.  But, fellowships are usually open to doctoral candidates and aimed at a specific study, e.g. if you need funding for a specific project.

Answer 3

A scholarship is:

An award of access to an institution, or a financial aid award for an individual student scholar, for the purpose of furthering their education. Scholarships are awarded based on a range of criteria which usually reflect the values and purposes of the donor or founder of the award.

A Fellowship is:

A company of people that shares the same interest or aim.

A feeling of friendship, relatedness or connection between people.

A merit-based scholarship.

A temporary position at an academic institution with limited teaching duties and ample time for research; this may also be called a postdoc.

A stipend that supports the pursuit of an advanced degree and/or research.

Source: wikipedia and wikidictionary.