Which best describes the difference between a grant and a loan?

A. A grant does not require any paperwork or eligibility criteria, while a loan has several terms and conditions set by law.
B. A grant may offer flexibility with repayment options and is not dependent on market interest rates, while a loan is offered by a business and not subject to any regulations.
C. A grant is based on income and financial need, while a loan is based on academic achievement and has no financial eligibility requirements.
D. A grant is usually based on your financial need determined by your income and does not need to be repaid, while a loan from the government or private organization is expected to be paid back.
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