What are various methods of paying for education or training, such as grants and scholarships, called?

The term for various methods of paying for education or training, including grants and scholarships, is known as financial aid. Financial aid encompasses a wide range of funding options designed to help students cover the costs of their education. This includes not only grants and scholarships, which do not need to be repaid, but also federal work-study programs and loans that must be repaid. The essence of financial aid is to alleviate the financial burden of tuition and other related educational expenses, making it easier for individuals to pursue their learning goals.

Tuition assistance, while related to education funding, typically refers to employer-sponsored programs that help employees pay for their education. Student loans are specific forms of financial aid that must be repaid with interest, and payment plans involve scheduling tuition payments over time but do not fall under the broader category of financial aid that includes grants and scholarships.