--- title: Scholarships vs Discounts: Every Financial Aid Explained description: Are you in a dilemma between scholarships vs discounts? Discover different financial assistance types here to find the one that suits you the best. --- # **Scholarships vs Discounts: What Every Student Should Know Before Applying** Updated: 13 May 2026, 12:32 pm IST * * * ## Introduction There are various types of financial aid available to ensure that financial concerns do not hinder a student’s career path. However, with so many options around, it is quite natural to feel unsure about where to begin. Hence, being aware of its various types and the difference between them is crucial to ensure choosing the most suitable one. Continue reading to explore the top financial assistance types, differences between them (including **scholarships vs discounts**), Amity University Online’s scholarship types, and tips for picking the right one.   * * * ## Types of Financial Assistance for Higher Education Although every financial assistance type is aimed at supporting a student’s educational endeavours, each serves a different purpose as described below: ### Scholarships These are non-repayable financial awards given to students who fulfil certain criteria pre-defined by an institution. The main scholarship types include: - Tuition fee waivers - Merit-based waivers - Need-based waivers - Competency-based waivers ### Discounts These reductions in fees are offered to students at the institution’s discretion. The discounts are usually one-time and depend on different institution-specific factors. ### Concessions These are special fee reductions provided to students belonging to certain categories, such as economically or socially disadvantaged sections, learners with special needs, etc. ### Financial Aid It is an umbrella term encompassing various types of financial assistance, including scholarships, loans, grants, discounts, etc., for students to help them achieve their academic goals.   * * * ## Difference Between Scholarship and Discount While both help reduce academic expenses, scholarships and discounts differ in purpose, eligibility, and the way in which they are awarded to students. The table below lists the differences:   Parameter Scholarship Discount Form of Financial Assistance It is usually a financial reward. It is offered as a fee reduction. Determining Factors - Academic performance - Athletic talent - Financial need - Certain professions - Students with disability - Full or partial advance fee payment, as prescribed by the institution. - Early or group admissions. - Referrals Selection Process It requires the fulfilment of certain eligibility criteria and a subsequent application. It is automatically applied and easier to claim. Purpose It is meant to support and reward deserving students financially. It is aimed at encouraging early or more enrolments, or even to reward loyalty. * * * ## Scholarships Vs Concessions: Higher Education Scholarships and concessions awarded for higher education may seem similar, but they cater to different student needs and circumstances. Their key differences are tabulated below:   Parameter Scholarship Concession Form of Financial Assistance It is an academic merit, specific talent, or need-based financial reward for higher education. It is a form of fee reduction granted for some specific social or personal criteria. Eligibility Criteria - Extraordinary performance in sports, academics, or extracurricular activities. - Financial need - Differently-abled students - Alumni - Service-based - Differently-abled students - Certain income levels - Reserved category Application Process - Submission of the application form - Formal documentation - A test - Request-based application with supporting documents for proof. Purpose It is meant as a financial reward or assistance for deserving students. It is provided to encourage further education by making it accessible to certain student categories. * * * ## Financial Aid Vs Discounts in Online Education With the rise of online learning, understanding the difference between financial aid and discounts is essential for students to ensure they pursue their dream career within their budget. The table below outlines the main differences:   Parameter Financial Aid Discounts Form of Financial Assistance A broad term including any financial assistance aimed at reducing educational costs, based on need or merit. It is an offer-based reduction in the course fee. Determining Factors - Financial situation - Special needs students - Meri-based - Alumni status - Reserved category - Athletic achievement - Service-based - Group admissions - Early admissions - Referrals - Promotional offers - Full or partial advance fee payment Application Process It requires furnishing the following, based on the category applied under: - Application form submission - Income proof - Marksheets as proof of marks obtained - Professional service proof - Alumni proof (like marksheets, alumni or graduation certificates, etc.) - Caste certificate - Disability certificate - Sports achievement or participation certificate It is either automatically applied based on the determining factors or requires a coupon code. Purpose To make education accessible and encourage it among the meritorious students or those in need. To boost enrolment numbers or advance fee payments. * * * ## A Quick Student Guide to Scholarships and Discounts at Amity University Online Amity University Online provides an academically enriching experience for all in an inclusive environment by catering to the specific needs of students from various categories. This makes education accessible for every student, irrespective of their physical, psychological, financial, or social constraints. The helpful scholarships and discounts provided by Amity University Online are tabulated below:    Scholarships Category Scholarship Credit Eligibility Criteria Divyaang (for differently-abled students) 20% A 40% or more disability with a valid government-issued disability certificate. These are based on the disabilities recognised by the RPWD (Rights of Persons with Disabilities) Act, 2016, comprising 6 main categories and 21 sub-categories. Amity University Alumni 20% UG or PG alumni of Amity University who have completed a programme here. Merit-Based Upto 20% Students who have scored at least 85% in their previous qualification. CHAMPS Sports Scholarship 30-100% International, national, or state-level athletes duly recognised by their official sports federation. Defence Personnel 20% Currently serving or having served in the defence, paramilitary, or police forces for at least 2 years, with a valid ID card number. ISAT (Instant Scholarship Admission Test) Performance-based Meant for those who do not qualify for the other scholarship categories.   Discounts Fee Payment Category Discount Eligibility Criteria Full Programme Fee Payment - UG programmes: 12% - PG programmes: 8% Advance payment of full programme fees. Annual Programme Fee Payment - UG and PG: 5% Advance payment of annual programme fees. * * * ## How to Choose the Right Financial Assistance? While there are many financial assistance types, students can easily choose the one best suited for them using the following tips: - Students must first assess their financial needs. - Check the relevant or preferred category’s eligibility criteria. - Ensure compliance with the rules and regulations with valid documents. - Understand the percentage of fee deduction covered. - Read through the [scholarship page](https://amityonline.com/scholarship) for every detail regarding discounts and scholarships. - Contact the Admissions Team for any additional queries. * * * ## Conclusion Every student aspires to pursue their dream programme from reputed institutions without worrying about their budget constraints. However, with various financial assistance types, students can easily fulfil this dream with ease. With the key differences between them and all the **Amity scholarships explained** here, along with tips for a wise selection, students can choose the appropriate scholarship or discount for themselves. All they need to do is pick a programme of their choice from the diverse options at [Amity University Online](https://amityonline.com/) to get started on their academic journey. * * * ## ABOUT AUTHOR [Pritika](/author/pritika) ### Marketing Pritika is a content specialist with 20 years of collective experience in the EdTech and Business Content Industry. A reporter-turned-content writer, Pritika has written news reports, press releases, blogs, feature stories, product descriptions, and more throughout her career.