Asked by nnn

What is one major difference between a grant and a loan?
If you receive a grant, you cannot also get a scholarship. However, if you receive a loan, you can also get a scholarship.
A grant is considered a financial gift. Unlike a loan, you do not have to pay it back.
A loan is considered a financial gift. Unlike a grant, you do not have to pay it back.
You can apply for loans using the FAFSA, but you cannot use the FAFSA to apply for grants.

All Answers 1

Answered by GPT-5 mini AI
"A grant is considered a financial gift. Unlike a loan, you do not have to pay it back."

Explanation: Grants (and scholarships) are gift aid that do not require repayment; loans must be repaid (usually with interest).