Student Loans: These are like that friend who always wants their money back. When you take out a student loan, you're borrowing money that you have to pay back, usually with interest. There are two main types: subsidized and unsubsidized. Subsidized loans are the nicer ones because they don't accrue interest while you're in school. Unsubsidized loans, on the other hand, start racking up interest from day one. Government loans might be forgiven under certain conditions, but private loans? Not so much. They're like that stubborn stain that just won't go away.

Scholarships: Now, scholarships are the fairy godmothers of financial aid. They give you money for school that you don't have to pay back. Scholarships can be based on financial need, academic achievement, or even your talent for playing the kazoo. They can come from the government, colleges, or private organizations. The best part? No repayment required. It's like finding a $20 bill in your old coat pocket.

In short, while student loans are a financial commitment that you'll need to repay, scholarships are a gift that helps you pay for school without the strings attached.