A portion of a grant may have to be repaid if_____________.

you withdrawl form school before finishing a semester.

Your FAFSA helps your school determine__________.

the types of aid you are eligible to receive

A grant is _________.

free money that does not have to be repaid.

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College and Career Prep: Financial Aid

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Questions 15

Answers

1
A portion of a grant may have to be repaid if_____________.
you withdrawl form school before finishing a semester.
you change majors.
you get C's.
you finish your degree.
2
A student loan ____________.
does not need to be repaid
does not affect your credit
is not a real loan
is repaid with interest
3
How much is it to apply for the FAFSA
$0
$30
$20
$10
4
What is the first place to start looking for a scholarships?
your school counseling office
FAFSA.gov
paid scholarship hunters
Websites
5
When can you begin filling out the FAFSA?
January
October
December
November
6
After completing the FAFSA you will receive your SAR. Your SAR summarizes__________.
your financial need
your maximum expenses for college
the information on your FAFSA
your tax information
7
A scholarship that requires you to pay a fee is_____________.
a legitimate scholarship
something you should avoid if it is over $50
a good one to apply for
always one to avoid
8
What does EFC stand for?
Elgible Financial Care
Expected Family Contribution
Early Financial Choice
Earned Family Costs
9
Which is NOT one of the main components of a financial aid package?
Student Loans
Work-study
Corporate endowments
Grants and Scholarships
10
Pell grants ______________.
are dependent on your financial need and cost of attendance.
all of the above.
can change amounts yearly
are Federal Grants
11
Your FAFSA helps your school determine__________.
your future income
the maximum amount to charge you for college
the types of aid you are eligible to receive
the information on your FAFSA
12
A grant is _________.
money that must eventually paid back
free money that does not have to be repaid.
the name for the fee to complete the FAFSA
based only on merit
13
To complete the FAFSA you need to obtain ____________.
a resume
an acceptance letter
a transcript
a FSA ID number
14
What is the first step in applying for financial aid?
Getting a letter of recommendation from a counselor
Contacting a financial aid officer at your college
Filling out the FAFSA
Enrolling in your first semester class
15
Which of the following is a subsidized federal student loan?
A Stafford loan
a Fannie Mae loan
a Mercantile Grant
a Stanley loan

College and Career Prep: Financial Aid Flashcards | StudBud