Question

When looking at a financial aid award letter, which type of aid would you have to pay back?

a) Federal work-study
b) merit scholarship
c) federal pell grant
b) Perkins loan

Answer 1

There are four components you need to consider: Yearly costs, such as tuition, fees, books, room and board, travel expenses, etc. Financial aid that you don't have to pay back, such as scholarships, grants, and work-study. Financial aid that you do need to pay back, such as as federal loans.

Step-by-step explanation:

I hope this helps!