Career Ed Chapter 9 Financial Aid Flashcard

Front

What does FAFSA stand for?

Back

Free Application for Federal Student Aid

Front

What is the purpose of the FAFSA application process?

Back

To determine eligibility for federal financial aid.

Front

What are the different types of institutional financial aid?

Back

Scholarships, grants, work-study programs, and tuition waivers

Front

Name one type of federal grant.

Back

Block grants

Front

What are the different federal student loan programs available? Options: Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Federal Perkins Loans

Back

Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Federal Perkins Loans

Front

True or False: Scholarships are only awarded based on academic merit.

Back

False

Front

What is the first step in the FAFSA application process?

Back

Create an FSA ID

Front

What is the maximum income limit to be eligible for federal grants?

Back

There is no specific maximum income limit for federal grants.

Front

What is the interest rate on federal student loans?

Back

The interest rate on federal student loans varies depending on the type of loan and the disbursement date.

Front

True or False: Federal student loans need to be repaid.

Back

True