What is the difference between scholarship and stipend?

<p>Scholarship is a type of award that is either awarded on a merit basis or a need basis. Students who are good at studies and need financial aid to support their studies are generally considered for scholarships. Scholarships often include a fixed amount of funds/stipend that is provided either once or in different instalments directly/indirectly to the educational institutions. This amount of scholarship can only be used towards university/school expenses requested for. Only a few scholarships also include expenses to cover the living expenses of students putting up in a foreign country.&nbsp;</p><p>Stipend on the other hand is a fixed income that is paid regularly to students working on projects or internships.</p>

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