What is a key benefit of scholarships and grants?

Scholarships and grants are forms of financial aid that do not need to be repaid, which is a significant advantage for students seeking financial assistance for their education. This means that students can receive funding to help cover their tuition and other educational expenses without the burden of future debt. Unlike loans, which require repayment often with interest, scholarships and grants provide financial support that allows students to focus more on their studies and less on their financial obligations.

Moreover, scholarships can be awarded based on various criteria including academic performance, athletic ability, or specific talents, while grants are often based on financial need. This financial support is crucial in making education more accessible and alleviating some of the financial stress associated with higher education costs.

In contrast, the other choices focus on the repayment aspect, which does not apply to scholarships and grants, and also mention limitations on the types of studies for which these funds can be used, whereas scholarships and grants can be available for a range of educational pursuits beyond just undergraduate programs.