Loans vs. Grants vs. Scholarships A loan, with its simplest definition is cash that is lent by a celebration and it is expected to be paid back with interest. Universities, banks and also the federal federal government have the option to loan cash to pupils at their discernment and terms. So it comes with a cost, and then some while you may be able to attend college. Probably the most typical form of loan may be the Federal Perkins Loan,…