Financial assistance is a term used to describe any form of aid given to an individual or organization in order to help them with their financial needs. The most common form of financial assistance is a LOAN, which is a sum of money borrowed from a lender and repaid over a period of time with interest. Loans can be used for a variety of purposes, such as purchasing a home, paying for college tuition, or starting a business. Financial assistance can also come in the form of grants, scholarships, or other forms of government aid.