What is the fundamental difference between a grant and a scholarship in the context of financial aid?

The correct answer to the question "What is the fundamental difference between a grant and a scholarship in the context of financial aid?" is Option C: Grants are generally awarded based on financial need, while scholarships can be merit-based, need-based, or based on other criteria..

The other options — A) Grants are always based on academic merit, while scholarships are always based on financial need., B) Grants are typically provided by government entities, while scholarships are only from private organizations., D) Scholarships must be repaid, whereas grants never have to be repaid. — are incorrect for this College Advising question. As explained above: Both grants and scholarships are forms of gift aid that generally do not need to be repaid. However, grants are primarily need-based, while scholarships can be awarded based on a wider range of crite…