Student grants based on personal background are known as "need-based" or "merit-based" grants. These financial aids consider factors like ethnicity, socioeconomic status, or life circumstances, providing support to underrepresented groups or those facing economic hardships. They aim to promote educational access and equity.
![How People Pay for College [2023]: Financing Statistics](https://educationdata.org/wp-content/uploads/2020/10/source-of-funds-for-college-expenses-3.png)
