Show Me The $$$: Financial Aid 101

Question 1

What is it called when a student stops taking all of their classes and leaves school?

Accepted Answer

Withdrawal

Question 2

What is a permanent academic record of courses taken, grades received,and academic status?

Accepted Answer

Transcript

Question 3

What money must be payed back after you finish with school?

Accepted Answer

Private Loans, Federal Loans

Question 4

What is the name of a student who is taking a minimum of 12 credit hours per semester?

Accepted Answer

Full Time

Question 5

What type of financial assistance does not have to be paid back?

Accepted Answer

Workstudy, Scholarships, Grants

Question 6

How much does it cost to fill out the FAFSA?

Accepted Answer

Free $0

Question 7

What determines if you qualify for the Federal Pell Grant or other income based scholarships.

Accepted Answer

Household Income, Financial Need

Question 8

What form do you fill out to see if you qualify for financial aid?

Accepted Answer

FAFSA

Question 9

Scholarships are only awarded for grades and athletics.

Accepted Answer

False

Question 10

This is the total estimated amount that a student will spend while attending school.

Accepted Answer

Estimated Cost of Attendance

Question 11

Money that the government and other organizations give you to help you pay for college.

Accepted Answer

Financial Aid

Question 12

True or False: All students have to take out loans to pay for college?

Accepted Answer

False

Question 13

How many semesters of poor academic performance does it take to lose financial aid?

Accepted Answer

2

Question 14

Some scholarship applications require a person, such as a teacher or employer to write a_____?

Accepted Answer

Letter of Recomendation

Question 15

What term describes how much your parents may be able to help you pay for college?

Accepted Answer

Estimated Family Contribution

Question 16

When should you start applying for financial aid and completing your FAFSA?

Accepted Answer

Oct 1st of your senior year

Question 17

What are the sources of financial aid (where does the money come from)?

Accepted Answer

banks and lenders, federal and state government, colleges and universities, private organizations

Question 18

FAFSA stands for:

Accepted Answer

Free Application for Federal Student Aid

Question 19

Which is NOT one of the four main types of financial aid?

Accepted Answer

working at McDonald's

Question 20

If you get a loan, you do not have to pay the money back.

Accepted Answer

False

Question 21

What are some things you can use your financial aid for?

Accepted Answer

All of the Above

Question 22

What must you sign to be able to receive your financial aid?

Accepted Answer

Award Letter

Question 23

This is a college entrance exam that students take their junior or senior year of high school.

Accepted Answer

ACT

Question 24

I have to apply in order to get financial aid

Accepted Answer

True

Question 25

Gift aid, such as grants and scholarships, do not have to be paid back.

Accepted Answer

True

Show Me The $$$: Financial Aid 101

Questions 25

Show Me The $$$: Financial Aid 101

Questions 25