Private College Student Loan

What are these types of student loans called?

I heard that there is a type of grant or student loan that you can get for college, and you wouldn't have to pay any of it back AS LONG AS you keep your grades above a certain level. If your grades dropped below the required level then you'd have to pay off the loans. What type of loan is that called?

Public Comments

1. A loan is a loan no matter what your grades are. And you will always have to pay it back. A grant is a grant that does not need to be repaid. If you want a grant, then you have to be poor to get one. This is a list of all the federal grants and and loans out there. Perhaps this will help you. http://www.edpubs.gov/document/EN0913P.pdf
2. Grant or student loan? It can be confusing when these financial terms are used by different people. There are grants and scholarships given by various organizations that can make the rules that apply to their specific type of aid. Maintaining a certain GPA could be one of them. Go to a site that gives a simple definition of grants, scholarships, and loans if you want to understand them, i.e., how they work.