Term of the Day

scholarship

A type of financial aid, in the form of a grant that does not have to be repaid by the recipient. Scholarships are most often given to students for one of two reasons: achievement in academics or other areas, or financial need.
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Usage Example
Due to the rising cost of higher education, many students apply for scholarships to assist in paying for their college education.
Term of the Day

cost benefit analysis (CBA)

process of quantifying costs and benefits of a decisionprogram, or project(over a certain period), and those of its alternatives (within the same period), in order to have a single scale of comparison for unbiased evaluation. Unlike the present value (PV) method of investment appraisal, CBA estimates thenet present value (NPV) of the decision by discounting the investment andreturns....
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Usage Example
Before embarking on a new project, performing a cost benefit analysis can be very helpful in deciding whether the new project makes financial sense.