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Scholarship
Term category: College Finance
In 10 words or less:  A monetary award applied toward the costs of an education

Definition: A monetary award, usually based on either academic merit or financial need (or both), that can be applied to educational expenses.

Advice: Scholarships are great because they do not require the recipient to repay them.  However, some scholarships may be taxable, so consult a tax advisor.

 

 

 

 

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