Knowing how much money you have gotten from financial aid (FAFSA) will help you in deciding what college you want to attend, based on the costs. You do not need to pay back the money you receive from financial aid, these are funds from the government for students struggling with cost of education.
Slide: 2
A scholarship might cover the entire cost of your tuition, or it might be a one-time award of a few hundred dollars. Either way, it's worth applying for, because it'll help reduce the cost of your education. Merit scholarships offer financial aid in recognition of student achievements. With scholarships You'll ultimately have to borrow less money for school.