Question

Three types of financial assistance that can applied for after grade 12 to study

Answer 1

Answer:

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Answer 2

The three types of financial assistance that can be offered after grade 12 are scholarships, loans and labor earnings.

• Scholarships and grants are the gifted assistance based on the financial needs and they do not have to be repaid.
• Loans have different repayment structures and they must be repaid according to the terms given on the promissory note.
• Labor earnings are the payments that students receive for the number of hours worked during the academic year. These earnings are considered scholarships or grants and are not taxable wages. The colleges expect the money from the academic year labor earnings and summer savings to be used to help with the payment of expenses due at the starting of the year and for other educational expenses incurred during the term.

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