In general, grants are given based on financial-need, while scholarships are merit-based and awarded to students based on their academic achievements, extracurricular activities, field of study, and more. Loans are the more commonly-used type of financial assistance.
GUNED will offer annually funded scholarships which are those that are funded each year by partners and members and alumni. The impact of the annual scholarship is immediate, meaning the funds are disbursed to the student recipient in the fiscal year they are received. Gifts made to annual scholarships are not invested, and do not earn additional income.