Answers 26-27 Ignite Financial Literacy Personal Finance - EL3403 Careers, Salaries, and Lifetime Income — Unit testQuestion 40

40

QuizMultiple Choice

Careers, Salaries, and Lifetime Income — Unit test

Question 40 • 26-27 Ignite Financial Literacy 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 that usually does not need to be repaid, and it is often awarded based on financial need. Choice A describes this. Choice B describes a scholarship, choice C describes a loan, and choice D describes tuition.

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