International Baccalaureate (IB) Practice Exam

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Prepare for the International Baccalaureate Exam with comprehensive quizzes including multiple choice questions and detailed explanations to boost your confidence. Hone your skills with our expertly crafted materials!

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Which of the following statements about college financial aid is false?

Scholarships are only for the highest academic achievers.
The Free Application for Federal Student Aid (FAFSA) is the first step to receiving any kind of financial aid.
Grants are free money.
Many businesses offer scholarships for employees' children.

The correct answer is: Scholarships are only for the highest academic achievers.

The assertion that scholarships are only for the highest academic achievers is inaccurate because scholarships come in various forms and criteria, not limited solely to academic performance. Many scholarships are available for a wide range of students based on factors such as financial need, community service, specific talents, or even personal backgrounds. This diversity allows students from different circumstances and skill sets to access financial aid for college. On the other hand, the Free Application for Federal Student Aid (FAFSA) serves as a critical step in the financial aid process for many types of aid, including grants, work-study programs, and loans, making the understanding of its importance accurate. Grants are typically considered "free money" as they do not require repayment, which is a significant advantage over loans. Additionally, many businesses and organizations do support the education of their employees' children through scholarships, reflecting the broad base of scholarship opportunities available beyond just academic merit.