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Financial Aid Lingo Flashcards | StudBud

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What does EFC stand for?

I can appeal my financial aid offer if it is not enough

Financial Aid Lingo

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Questions 13

Answers

1
I can appeal my financial aid offer if it is not enough
True
False
2
What does EFC stand for?
Everybody Forget College
Expected Family Contribution
Estimated Free Cash
Eternal Financial Cost
3
Oh okay, so I'll start thinking about the FAFSA on October 1st.
False
True
4
When can you fill out the FAFSA?
Now!
October 1st
August 1st
After you're admitted
5
Which type of aid is preferable?
Nah, I don't want any of these
Grant
Subsidized loan
Unsubsidized loan
6
A "need-blind" college...
Doesn't consider financial need in admissions offers
Doesn't consider SAT scores in admissions offers
Has a low cost
Is most likely a safety school
7
How much does it cost to fill out the FAFSA?
$60.99
$100
$50
$0
8
I have to re-apply to financial aid every year
False
True
9
How is merit-based aid different from need-based aid?
You need to apply early to be awarded Merit-based aid
Merit-based aid considers your SAT score
Merit-based aid is only for in-state residents
Merit-based aid considers your achievements and overall application quality
10
The FAFSA is the only thing I need to fill out to receive financial aid
True
False
11
I can ask financial aid officers about my financial aid offer after I am admitted
True
False
12
Work study means...
I am more likely to get hired at my school
I have to work at least 10 hours each week
I'm guaranteed a job
All of the above are true
13
When do grants need to be repaid?
Never! You get to keep the money from grants
10 years after you graduate
It depends on the grant
By the time you graduate