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Intro to Financial Aid Flashcards | StudBud
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Intro to Financial Aid
Intro to Financial Aid
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Questions
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Answers
1
You are entitled to a federal loan of $5,500 when you complete the FAFSA. However, you do not have to accept this money.
True
False
2
This is a need based campus job
Grant
Loan
Scholarship
Work study
3
This could be me in college after using the financial aid terminology and negotiating skills I learned in AVID class
True
False
4
What is considered gift aid or "free money"
Loans
Grants ONLY
Subsidized loans
Scholarships and grants
5
Grant money can change every year depending on you and your parent's income
False
True
6
Who can I get grant money from?
The state
All of the above
The college
The federal government
7
The two types of loans are called "unsubsidized" and "substitute"
False
True
8
This is merit or performance based money without repayment
Loan
Grant
Work study
Scholarship
9
A scholarship and a grant are the exact same form of financial aid
False
True
10
Who should I contact if I have specific questions about financial aid and my reward package?
Ms. Collie because she knows everything
Ms. Osias might know, I'll ask her
A financial aid officer or admissions representative at the college
My friend who graduated college 10 years ago
11
Work study is a job on campus that requires long hours and is a lot of work. It typically pays a few hundred dollars.
True
False
12
This is fixed low-interest rate money that must be repaid
Grant
Loans
Scholarship
All of the above
13
This is need based money without repayment
Scholarship
Work study
Loan
Grant