Mention and explain three forms of financial assistance for a student in higher education institutions?

1. Scholarships: Scholarships are financial awards given to students based on academic achievement, talent, or other criteria. They do not need to be repaid and can cover all or part of a student's tuition, fees, and other expenses. Scholarships can be awarded by the institution itself, private organizations, or government agencies.

2. Grants: Grants are financial aid that does not need to be repaid and are typically awarded based on financial need. They can come from the federal government, state governments, institutions, or private organizations. Grants can cover tuition, fees, and living expenses for students who demonstrate financial need.

3. Student loans: Student loans are borrowed funds that must be repaid with interest. They can be obtained from the federal government, private lenders, or the institution itself. Student loans can cover tuition, fees, and living expenses, and are often used by students who do not qualify for scholarships or grants or need additional financial assistance.