Awards are prizes given to the highest achiever in a subject or class. They can be based on class work, leadership, or other personal accomplishments. Awards are not always cash. You could receive a plaque, a medal, a book, a certificate, or even airline tickets. Non-cash awards are valuable on your resume since they prove you are the best at something.
Student loans are funds borrowed from a bank, to be repaid on a calculated rate of interest.
Repayment usually begins six months after graduation. You can increase your chances of winning a scholarship or bursary by following some basic guidelines. Apply for any award for which you might be eligible. If you don't apply, you won't win. Scholarships are competitive awards.