An athletic scholarship may require the student to play a sport all four years or they lose the scholarship. A music scholarship may require the student to accompany the choir. An academic scholarships will require the student to maintain a g.p.a. of 3.0 or much higher. Many scholarships are renewable for 4 years. If the grade point is maintained and other stipulations met, the student is fairly assured that this funding will continue.
Many local scholarships are on a one time only basis but help out greatly that first year.
Loans must be repaid. In the past, this was not strongly enforced. Many professionals are being embarrassed in the news by enforcers visiting them trying to gently encourage them with a sledgehammer. But the payment plans are reasonable and consolidation is available. This is employment by the student on campus that is applied toward tuition.