Question

What is the difference between a scholarship and a grant?

(1 point)
• A scholarship accrues interest payments, and a grant does not.
• A scholarship always has to be repaid, and a grant does not.
• 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

[AI-generated answer — Bot GPT 3.5]

A scholarship is awarded based on merit, such as academic achievements or special talents, while a grant is awarded based on financial need. Additionally, a scholarship does not have to be repaid, while a grant may or may not require repayment depending on the specific terms and conditions.