Which of the following types of financial aid do not require you to pay the money back?

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Which of the following types of financial aid do not require you to pay the money back?

Question 1: Which of the following types of financial aid do not require you to pay the money back?

A. Grants

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B. Private Loans

C. Federal Loans

D. All of the above.

Answer; A. Grants

Grants don’t have to be paid back because they typically come from governmental organizations or private foundations that offer them as a means of assisting people and families who are trying to improve their circumstances.

There are so many different types of grants – the largest grants usually go towards graduate education, research projects, etc., but there are a lot more specific grants for things like housing, childcare expenses, and autism research.

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What is the Meaning of Financial Aid

Financial aid consists of scholarships, grants, and loans (which all take different forms) that are made available to qualified students to help them pay for their education. These forms of financial aid are offered by various granting agencies and can come in the form of scholarships, grants, or student loans. 

Types of Financial Aid Students Don’t Have to Pay Back

1. Grants

Students can receive grants that do not have to be repaid. Grants are often funded by the federal and state governments, foundations, colleges and universities, and a variety of corporations and organizations. 

2. Scholarships

Schools and other organizations provide scholarships to deserving students. These awards are often based on financial need and can be given every year, for a period of years, or for the duration of one’s education. 

3. Money awarded through a work study program

A work-study award is money that a student receives from their school to help pay for educational expenses. Students who are awarded a work-study grant are required to work at the school throughout the term of study. Students can choose from on-campus jobs or off-campus jobs, depending on their situation. 

Types of Financial Aid Students Must Pay Back

1. Student loans

A student loan is money that a student borrows through a school or financial institution, backed by the federal government, to pay for educational expenses. Students are required to pay the debt back after completing their studies. 

2. Student credit cards

A credit card is a loan that a student receives from a credit card company. The student is required to pay interest on the balance after graduation. 

3. Parent loans for undergraduate students (PLUS)

Parent loans are funds that parents borrow from a bank or financial institution to help pay for their children’s education expenses. A parent becomes legally obligated to repay the debt if the child fails to do so. 

Question 2: What types of money are included in the M2 category? Check all that apply

A. Currency savings accounts 

B. Checking accounts 

C. Commodity money short-term 

D. Investment accounts

Answer; A. Currency savings accounts and B. Checking accounts 

Explain the following;

What is m2 and what is included in the m2 quizlet?

It is the measure of money supply, it includes things like checking deposits and cash.

What is m1 and what is included in the m1 quizlet?

M1 is a  measure of the money that is used as a medium of exchange. It includes checking accounts and demand deposits. 

What is the difference between M1 and M2?

M1 is cash and saving deposits that are liquid. M2 is more than m1 and includes personal checks, small, time deposits, and institutional money market funds.

How does M2 increase?

The issuance of additional money into the economy or creating incentives for consumers to spend less are two ways central banks might affect the M2 supply.

Types of Money 

The different types of money include:

1. Fiat money

Fiat money is a currency not backed by any physical commodity such as gold or silver. This forms a central bank’s reserves until necessary to back the currency in the form of hard assets like commodities or jewels with demand for circulation begins to fall throughout the economy due to market forces leading to price deflation or inflation.

2. Commodity money

Commodity money is a currency where the value of its monetary unit is derived from precious metal. It is backed by a commodity in theory with the value of the monetary unit being equal to the cost of production through mining, refining, and distribution.

3. Commercial money

Commercial money is a currency that is backed by a physical commodity, but the value of the monetary unit is based on the perceived value of that commodity rather than what it costs to produce. This type of money might also be backed by a government-mandated value placed on the commodity. For example, gold and silver coins stamped with their weight and purity may be considered commercial money.

4. Fiduciary money

Fiduciary money is a currency that is backed by and circulated as a claim on an underlying commodity. The main difference between this and commercial money is that fiduciary money has no intrinsic value.

Question 3: What type of lawyer makes the most money

Lawyers are a diverse and colorful profession. They are general practitioners who can do everything from resolving civil disputes to helping people avoid bankruptcy; they help business people and entrepreneurs find their enterprises and make them successful or work with public agencies to provide legal protection for those in need from negligence or cruelty.

Factors That Impact the Salary for Lawyers 

The following factors impact the salary of lawyers:

1. Work setting

The salary of a lawyer practicing in his or her law firm will be greater than the one working for a government agency. Also, lawyers working for large law firms have higher salaries than those who are employed by smaller ones.

2. Years of experience

Lawyers with several years of experience can earn higher salaries than those who just graduated from law school. Nevertheless, younger lawyers are often given opportunities to work on high-profile cases and long-term projects that will enable them to learn more in the field and build their resumes.

3. Areas of specialization

Depending on the particular areas of interest and work experience, lawyers specialize in different aspects of the law. Some specialize in criminal law, others are experts in family or estate law. There is also a specialized field for international law, which is focused on matters related to foreign nations and their laws

4. Location

Location plays an important role in the salary for lawyers. Lawyers who are willing to work in rural or remote areas have lower salaries than those whose offices are situated in major cities.

5. Additional skills and qualifications

A lawyer’s salary is heavily influenced by additional skills and qualifications, such as degrees from prestigious universities, membership in the State Bar Association of his or her state, and academic awards. A lawyer may also have a license to practice in multiple states, which may allow him or her to provide services in more than one state.

Types of Lawyers That Make the Most Money 

1. Medical lawyers

Medical lawyers earn an average of $138,431. The work of a medical lawyer consists of assisting physicians in drafting wills, trusts, and other estate planning documents. They also help with the preparation of medical affidavits that are required for probate and other legal matters. They also handle personal injury cases and medical malpractice claims. 

2. Intellectual property attorneys

Intellectual property attorneys earn an average salary of $128,913. They act as a liaison between their clients and the United States Patent and Trademark Office. They serve as liaisons between corporations, businesses, and individuals on trademark, patent, or copyright issues. 

3. Corporate lawyers

Corporate lawyers make an average salary of $116,361. Corporate lawyers help public and private companies manage their legal needs. They handle corporate acquisitions and mergers as well as strategic alliances between corporations.

They also assist with employee stock plans, corporate governance and securities law, business torts, employment issues, mergers and acquisitions, and litigation on behalf of corporations. 

4. Tax Attorneys

Tax attorneys earn an average salary of $106,694. The primary duties of a tax attorney include providing individual or corporate tax advice and preparing tax returns for their clients. They also handle legal issues relating to taxes including audits as well as civil and criminal tax cases. 

5. Trial Attorneys

Trial attorneys earn an average salary of $97,158. They work closely with their clients in court to prepare them for trials and then represent them throughout the proceedings. 

Question 4: In which Market is money bought and sold using other types of money?

A. The New York stock exchange

B. The commodity future market

C. The federal reserve Bank

D. The currency exchange market​

Answer; D. The Currency Exchange Market


It is The market where one country’s money is traded for that of another country. Exchange rate. the price of one country’s money in terms of another. 

A) The New York Stock exchange

It is the market in which shares are traded. It has its headquarters in New York City and the total market capitalization of listed securities makes it the largest equity-based exchange in the world.

B) The commodity future market

A commodity future contracts to purchase or sell a given quantity of a commodity at a set price on a specific date in the future.

C) The Federal Reserve Bank

It refers to 12 regional banks that issue the United States currency and regulate its value by buying and selling bonds, controlling interest rates, etc. This bank acts as the central bank of the U.S., controlling the money supply and credit flow to private banks.

Question 5: Which of the following types of investments is best for money you may need in an emergency?

A. Government bonds

B. Real estate

C. Money markets

D. Individual stocks

E. Corporate bonds

Answer; C. money markets


Money Markets are the best choice if you need money for an emergency because it is the most liquid of all investments. Money markets include Treasury bills, bank certificates of deposits, and commercial paper. Although you may have a small yield with these instruments, you will be able to access your money if and when you need it.

Related Economics Questions

  1. Which of the following payment types require you to pay upfront?
  2. All of the following components are commonly found in rental housing agreements except:
  3. In a free-enterprise system, consumers decide?
  4. Which of the following is not a cost typically associated with owning a car?
  5. What is one benefit of purchasing saving bonds?
  6. Which of the following is a unique feature of credit unions?
  7. Which helps enable an oligopoly to form within a market?
  8. All of the following make up the big three credit reporting agencies except:
  9. Which statement is not true regarding a straight life policy?
  10. Which of the following is an example of derived demand?
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