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Definition: A grant is a form of federal or state financial aid that does not need to be repaid. They're typically given to people who demonstrate financial need. Advice: Grants are amazing sources of financial aid for people with need. Need is determined by filling out a Free Application for Federal Student Aid (FAFSA). We highly recommend every prospective college student to fill one of these out--even if you don't qualify for grants, you may receive scholarships or favorable loans.
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