Answers 2027 Ignite Financial Literacy-Personal Finance - EL3403 Planning for the Cost of College — Unit testQuestion 26

26

QuizMultiple Choice

Planning for the Cost of College — Unit test

Question 26 • 2027 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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