Which type of financial aid is money given by a school, organization, etc., to a student to help pay for the student's education and does not need to be repaid?

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Multiple Choice

Which type of financial aid is money given by a school, organization, etc., to a student to help pay for the student's education and does not need to be repaid?

Free money for education comes in different forms. The one described is a scholarship: money awarded to a student by a school or other organization that does not have to be repaid. Scholarships can be based on academic achievement, talents, or financial need, and they directly reduce what you owe for tuition and other costs. This sets scholarships apart from loans, which are borrowed funds that must be repaid with interest, and from work-study, where you earn money by working part-time to help cover education costs. Financial aid is the broad umbrella that includes scholarships, loans, and work-study, but the aspect that fits “does not need to be repaid” is the scholarship.

Which type of financial aid is money given by a school, organization, etc., to a student to help pay for the student's education and does not need to be repaid?

Prepare for the College and Career Readiness Exam. Engage with flashcards and multiple-choice questions, each offering hints and explanations. Gear up for your success!

Which type of financial aid is money given by a school, organization, etc., to a student to help pay for the student's education and does not need to be repaid?

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