41
QuizMultiple Choice

Employment and Education

Question 41 • Personal Finance - EL3403

Which statement best explains a grant?

Answer
A
A grant is money awarded to a student, usually based on financial need.
B
A grant is aid given to a student by an institution, often based on academic success.
C
A grant is money borrowed by a student to pay for an education that will need to be repaid.
D
A grant is the price of attending classes at a school.

Explanation

A grant is financial aid awarded to a student, often based on financial need, and generally does not have to be repaid. Choice A best describes this. Choice C describes a loan, which must be repaid; choice D describes tuition or another education cost.

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