God spoke to me when I read that line in the OP and he said, "Don't let that stand without a comment or two." God saves us by his grace through faith without our works. There is nothing we can do that deserves or can merit eternal life and that is why it is a "gift". A gift is something you don't pay for, you don't do anything to earn it nor anything in order to keep it. It is freely given because it is given by grace. Just as we are saved by faith in Christ, so we also live by faith.
"For therein is the righteousness of God revealed from faith to faith: as it is written, The just shall live by faith." (Romans 1:17)
"Now that no one is justified by the Law before God is evident; for, “THE RIGHTEOUS MAN SHALL LIVE BY FAITH.” (Galatians 3:11)
When I sense my prayers are bouncing off the ceiling and they echo back to me, I know that God STILL hears me because I live by faith. "Faith is the assurance of things hoped for, the conviction of things not seen." (Hebrews 11:1) I know that he loves me and always wants what is best for me though what he allows in my life may not seem like it at the time, but "afterwards it yields the peaceful fruit of righteousness." (Hebrews 12:11) His discipline is proof that I am His child and his correction is evidence that he loves me.
In times like these, I have come to understand it is best to just pray through it. Never to give up because he never gives up on us. He is training us up in righteousness, conforming us ever closer to the image of Christ, with whom we are joint-heirs. All because of God's wondrous grace.
To put a little sharper point on this, we are saved by the faith of Christ (Gal 2:20 etc.)("Father, into Thy hands I commend my spirit."), and we live by His faith (Rom 3:20 etc). I fully trust in the faith of Him!(Heb 10:23)