What is the difference between a scholarship and a grant?​​​​​​​

Question

(1 point)
Responses

A scholarship always has to be repaid, and a grant does not.
A scholarship always has to be repaid, and a grant does not.

A scholarship accrues interest payments, and a grant does not.
A scholarship accrues interest payments, and a grant does not.

A scholarship never has to be repaid, and a grant always does.
A scholarship never has to be repaid, and a grant always does.

A scholarship is awarded based on merit, and a grant is awarded based on financial need.

Answer 1

The correct response is:

A scholarship is awarded based on merit, and a grant is awarded based on financial need.

Scholarships are typically based on academic, athletic, or artistic merit, while grants often consider the recipient's financial situation. Both scholarships and grants do not require repayment.