stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Aid 101: Free Money, Loans, and More! Flashcards | StudBud
Explore
/
Financial Aid 101: Free Money, Loans, and More!
Scholarships are usually based on
Which of these is need-based?
Financial Aid 101: Free Money, Loans, and More!
20 terms
·
StudBud Administration
Imported from external platform
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Which of these is
need-based
?
Athletic scholarship
Private loan
Merit scholarship
Federal Pell Grant
2
Scholarships are usually based on
FAFSA results only
Credit score
Income only
Merit
3
Which form do you fill out to access most aid?
Admissions application
SAT
FAFSA
IRS Tax Return
4
What does work-study provide?
Full-time employment
Part-time job with financial aid
Guaranteed tuition
Scholarship extensions
5
What’s usually required when applying for scholarships?
Meal plan choice
A loan officer
FAFSA ID only
Essay and transcript
6
What is a fellowship?
A student loan
A housing discount
A type of work-study
A merit-based award for grad students or researchers
7
What is financial aid?
A fee for registration
Money to help pay for college
Money you pay to the school
A loan from your parents
8
Which is
not
a financial aid type?
Fellowships
Grants
Loans
Credit card points
9
When is the best time to submit your FAFSA?
Before graduation
As early as possible
After midterms
After classes begin
10
Who offers scholarships?
Nonprofits
Government
Companies
Colleges
11
What do scholarships, grants, and fellowships all have in common?
Are only for athletes
Require repayment
Can be free money
Need credit approval
12
What happens if you drop out mid-term and got a grant?
You keep the money
You lose your diploma
You may have to pay it back
You get more aid
13
TRUE or FALSE: Grants and scholarships are the same thing.
True
False
14
What kind of aid do you repay?
Scholarship
Grant
Loan
Fellowship
15
What does FAFSA stand for?
Free Application for Federal Student Aid
Free Access for Federal Student Aid
Financial Aid for Federal School Attendance
Federal Aid for Students of America
16
You must complete FAFSA:
Only if you're a graduate student
Once, before freshman year
Every year you want aid
Only if you want scholarships
17
Which is an example of a grant?
Federal Pell Grant
Private loan
Parent PLUS Loan
Personal savings
18
What is the purpose of financial aid?
Help schools make money
Lower taxes
Help students afford education
Fund sports teams
19
Which of these
cannot
be found on FAFSA?
Private loans
Federal loans
Pell Grants
Work-study
20
What type of aid does
not
need to be repaid?
Work-study wages
Loans
Scholarships
Credit cards
