also: しょうがっきん
noun
scholarship; stipend; bursary; grant-in-aid
Financial aid for students, typically merit- or need-based, that does not require repayment.
彼は成績が良かったので、大学から奨学金をもらった。
He received a scholarship from the university because his grades were good.
この奨学金は返済の必要がない。
This scholarship does not need to be repaid.
noun
Financial aid that must be repaid; often used in contexts like 奨学金を借りる or 奨学金の返済.
日本では多くの学生が奨学金を借りて大学に通っている。
In Japan, many students attend university by taking out student loans.
卒業後、毎月奨学金を返済している。
After graduation, I repay my student loan every month.