Which type of financial aid does not require repayment?

Grants are a type of financial aid that does not require repayment. They are typically awarded based on financial need or specific criteria set by the grantor, such as academic performance or participation in certain programs. This means that once the funds are provided, the recipient does not have to pay them back, making grants an attractive option for students and individuals seeking financial assistance.

Loans, on the other hand, are funds that must be repaid, often with interest. Work-study programs involve earning money through part-time work, which is also not a form of aid that comes without some form of effort or repayment, as the earnings are typically tied to work performed. The term "debt" generally refers to any borrowed money that needs to be repaid, which again does not align with the characteristics of non-repayable financial aid. Thus, grants stand out as a resource that provides support without the burden of repayment.