What is the difference between federal loans and grants?
An example of an AI chatbot conversation about federal loans and grants.
What is the difference between federal loans and grants?
Federal loans are borrowed funds that must be repaid with interest, while grants are funds that do not need to be repaid.
Can you give me examples of each?
Sure! An example of a federal loan is the Direct Subsidized Loan, and an example of a grant is the Pell Grant.
Who is eligible for federal grants?
Eligibility for federal grants often depends on financial need, academic performance, and specific program requirements.
Are there any specific federal loans for students?
Yes, there are several federal loans for students, including Direct Unsubsidized Loans and PLUS Loans for parents.
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