Both “scholarship” and “fellowship” in general assume a “financial aid” for students and researchers, or any individual with an interest to search, find and research something new. “Scholarships” and “fellowships” are instituted by a University, a research center, academic institution, laboratory, government or a foundation.
Main difference between scholarship and fellowship
The most important difference between “scholarship” and “fellowship” is that the term “scholarship” always means that there is a “financial aid” available. So there is no “scholarship” without “financial aid”. If there is “scholarship”, then a “financial aid” is included as a “tuition fee”, as a “per diem”, as a “living allowance” or in any other shape, but there is always money included. In case of “fellowship”, though in most cases a “financial aid” will be provided, but the term does not necessarily suppose a “financial aid”.
The same is true for undergraduate studies. All “financial aid” available for undergraduate students in the University is called “scholarship” and only in rare cases, when related to research activities it may be called “fellowship”.
From graduate level “financial aid”, which is called a “fellowship” may be available for students who are particularly interested in some specific research area.
“Scholarships” are granted to student level and above, and the “fellowships” are mainly for experienced individuals to apply. For example, if you search google for “scholarships for journalists” you will mainly get results about “financial aid” to study in the University at any level, but if you search “fellowships for journalists” you will get first of all results about programs for experienced journalists to conduct some investigations and do some research.
In many instances scholarship and fellowship are used interchangeably, cause some confusion, and sometime mean the same thing or something different. Hopefully this short introduction about the differences of scholarship and fellowship is helpful.