Understanding Grants and Scholarships

What is a grant?

• A loan that must be repaid with interest

• A form of financial aid that does not need to be repaid

• A scholarship based on athletic ability

• A type of work-study program

Which of the following is a type of grant?

• Pell Grant

• Athletic Scholarship

• Student Loan

• Work-Study Program

What is typically required to be eligible for a merit-based scholarship?

• Financial need

• High academic achievement

• Participation in a work-study program

• Enrollment in a specific major

Which of the following is a characteristic of need-based financial aid?

• Awarded based on academic performance

• Requires repayment with interest

• Based on the financial situation of the student and family

• Only available to graduate students

What is the primary purpose of a scholarship?

• To provide a loan for educational expenses

• To reward students for academic or other achievements

• To offer part-time employment to students

• To cover all living expenses for students

Which of the following is NOT a type of grant?

• Federal Pell Grant

• Teacher Education Assistance for College and Higher Education (TEACH) Grant

• Direct Subsidized Loan

• Federal Supplemental Educational Opportunity Grant (FSEOG)

What is a common requirement for eligibility for scholarships?

• Owning a car

• Being a full-time student

• Having a part-time job

• Being over 25 years old

Which of the following best describes a merit-based scholarship?

• Awarded based on financial need

• Awarded based on academic, artistic, or athletic achievement

• Requires repayment after graduation

• Only available to international students

What is the main difference between grants and scholarships?

• Grants are only for graduate students, while scholarships are for undergraduates

• Grants are need-based, while scholarships can be merit-based or need-based

• Scholarships require repayment, while grants do not

• Grants are only available to international students

Which of the following is an example of need-based financial aid?

• Academic Excellence Scholarship

• Federal Work-Study Program

• Pell Grant

• Athletic Scholarship