1. FORGIVENESS - Cheryl received a student loan to pursue a degree to become a dental assistant. But unfortunately her school closed down due to legal complications. As Cheryl couldn't complete the course due to no fault of her own, Cheryl need not pay back the loan.
2. DEFAULT - Tom got a student loan to pursue a nursing science degree. But he couldn't manage his money well enough, due to which he was unable to pay back his loan.
3. WORK-STUDY - Sam is pursing an undergraduate program in Economics. He works as an assistant to the financial aid officer, which helps him earn $4000 annually. This helps him pay a few educational expenses.
FORGIVENESS - Cheryl received a student loan to pursue a degree; DEFAULT - Tom got a student loan to pursue.
WORK-STUDY - Sam is pursing an undergraduate program in Economics.
Financial aid is money being given to students to help them pay for college or technical college. Grants, work-study, financing, and bursaries can all support you in paying for education or career education.
Financial assistance is available from different of sources to assist in paying for college or career school.
Thus, it is mentioned above.
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