What does FASFA stand for?

Free Application for Federal Student Aid

What is different about Gift Aid?

You don't have to pay back the money given

What do Financial Aid Packages do?

Informs the student of the total funds they receive from gov

Failure to fulfill a loan and its payment

What are federal direct student loan programs?

Federally sponsored loan programs

What is need-based financial aid?

Financial aid that is awarded based on need

How is merit-based aid different from regular scholarships?

Money awarded based on sports, grades, or other activities

Define financial need

Money needed to pay for the rest of college

Fee charged when you take a loan out

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College Vocabulary

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Questions 17

Answers

1
A letter that is received notifying the student of their financial aid status
Payment Status
Student Aid Letter
Grant Letter
Award Letter
2
What is the technical term for the cost required to go to a certain college?
Cost of Attendance
Tuition
Fees
Charges
3
What does FASFA stand for?
Student Loans
Fast Cash
Free and Fast Student Aid
Free Application for Federal Student Aid
4
What is it called when a student helps pay for their tuition while working on campus?
Part-Time Job
Student Aid Worker
Work-Study
Study-Work
5
Information that indicates pell grant eligibility after submitting FASFA
Student Aid Report
Need Analysis
Award Letter
Scholarship
6
What is different about Gift Aid?
Money given can be passed down to other generations
You can choose what to spend the money awarded on
Lower interest has to be payed back
You don't have to pay back the money given
7
What do Financial Aid Packages do?
Informs the student of the total funds they receive from gov
Give students a list of potential scholarships
Assess how much money a student will need
8
You do not have to pay for grants
False
True
9
What is Default?
Base level
Failure to fulfill a loan and its payment
a pre selected option adopted by a computer program
10
What does EFC stand for?
Early FASFA Claims
Estimated Family Contribution
Estimated Fees Contributed
Easy Fast Cash
11
What are federal direct student loan programs?
Federally sponsored loan programs
Loans that are sponsored by the college you are attending
Loans through the government
12
What is need-based financial aid?
Financial aid that is awarded based on need
Money is only given when needed to buy something personal
Loans
13
How is merit-based aid different from regular scholarships?
Money awarded based on sports, grades, or other activities
Awarded money for doing nothing
Awarded money based off of good attitudes
Money awarded if someone is going to college
14
What does SAR stand for?
Student Aid Report
School Accountability Report
Student Acceptance Report
Student Attendance Report
15
Define financial need
Money needed for housing and gas
Money needed to pay for the rest of college
Money needed to shop
Spending money
16
What is interest?
Fee charged when you take a loan out
money given to an individual
the state of wanting to know about something or someone
a loan
17
The reviewing of ones financial aid application to determine if financial aid is needed
Need Analysis
Grant
Student Aid Report
Cost of Attendence

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