A scholarship is financial support awarded to a student that does not have to be repaid, unlike a loan. It may be based on merit, on financial need, or on a specific category, and can come from governments, the institution itself or private bodies. In practice a scholarship usually reduces or waives part of a student's fees for a defined period.
In Indian schools
A scholarship changes what a student actually owes, so it has to flow through fees cleanly rather than being tracked on the side. RaivatEdu lets a school build the student's fee structure with the concession applied, so instalments and dues reflect the real amount payable.