<u>Option A is correct. Grant is a type of financial aid that does not require to pay the money back.
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Further Explanation:
Financial aid is a financial help provided to the students for educational purposes by the government. This aid provides for the higher studies of the students. Grants is a financial aid provided by the government that students do not require to pay the money back given in this financial aid.
Justification for the correct and incorrect answer:
A.
Grants: This option is correct.
This financial aid does not require to pay the money back to the government. As this is the money given by the government for the higher studies of the students.
B.
Private loans: This option is incorrect.
Private loans are provided by private banks. The actual amount for education less the grants received from the government, whatever the amount left, can be taken private loans. The students will be pay back the amount of private loans.
C.
Federal loans: This option is incorrect.
Federal loans are provided by the government of the U.S. at a lower rate of interest. This is also known as educational loans. The students have to pay back the amount of loans after completing the studies.
D.
All of the above: This option is incorrect.
As option B and C are not correct, then the option all of the above is incorrect. Only option A is correct.
Learn more:
1. Learn more about the loans
<u>brainly.com/question/9913858
</u>
2. Learn more about government
<u>brainly.com/question/6156396
</u>
3. Learn more about financing costs
<u>brainly.com/question/11244228
</u>
Answer details:
Grade: Middle School
Subject: Accounting
Chapter: Financial aid
Keywords: grant, type of financial aid, do not require, to pay, back money, financial help, to students, for educational purposes.
