Answer: PASSFAIL

Passfail is a grading option where students receive either a "pass" or "fail" grade for a course instead of a traditional letter grade. If a student successfully meets the minimum requirements for the course, they receive a "pass" on their transcript. If not, they receive a "fail."

Note: The provided meaning of the answer is for the latest New York Times crossword puzzle clue: Grading option. Explanations are generated by AI and may be inaccurate.