Which statement best describes institutional scholarships provided directly by a college or university?

The correct answer to the question "Which statement best describes institutional scholarships provided directly by a college or university?" is Option C: They can be both need-based or merit-based, funded by the institution, and may require additional applications beyond the FAFSA..

The other options — A) They are always need-based and require a FAFSA submission., B) They are exclusively merit-based and do not consider financial need., D) They are primarily funded by the federal government but administered by the university. — are incorrect for this College Advising question. As explained above: Colleges provide their own institutional aid, which can be awarded based on merit, financial need, or a combination. They are funded by the institution and may require separate applications.