Question

which loan or loans listed below are awarded based on the financial need of the student?

i. perkins loan
ii. subsidized stafford loan
iii. unsubsidized stafford loan
a. i only
b. i and ii
c. ii and iii
d. i, ii, and iii

Explanation:

Analyze Perkins loan eligibility

The Federal Perkins Loan is a school-based, low-interest loan program for undergraduate and graduate students with exceptional financial need.

Analyze subsidized Stafford loan eligibility

Subsidized Stafford Loans are federal student loans reserved specifically for undergraduate students who demonstrate financial need. The government pays the interest on these loans while the student is in school.

Analyze unsubsidized Stafford loan eligibility

Unsubsidized Stafford Loans are available to undergraduate and graduate students regardless of financial need. Eligibility is not determined by family income or financial hardship.

Answer:

• a. I only
• b. I and II (Correct answer)
• c. II and III
• d. I, II, and III