Grants and work-study programs are examples of need-based aid. Let me explain why:
1. Grants: Grants are typically awarded based on a student's financial need, which is determined by factors like family income, assets, and the cost of attendance. These funds do not need to be repaid, making them a form of financial assistance for students who require help to afford their education.
2. Work-Study Programs: Work-study programs provide students with part-time employment opportunities to earn money to help cover their educational expenses. These opportunities are usually based on financial need as determined by the Free Application for Federal Student Aid (FAFSA) form.
Both grants and work-study programs prioritize assisting students with financial need, distinguishing them as forms of need-based aid. This type of aid aims to make education more accessible to individuals who may not have the financial means to afford it on their own.
