
Financial Aid Flashcard
Flashcard
•
English
•
9th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the purpose of the FAFSA?
Back
The FAFSA (Free Application for Federal Student Aid) is used to determine a student's eligibility for financial aid from the federal government, state governments, and colleges.
2.
FLASHCARD QUESTION
Front
Who is considered a dependent student for financial aid purposes?
Back
A dependent student is one who relies on their parent or guardian for financial support and must provide their parent's financial information on the FAFSA.
3.
FLASHCARD QUESTION
Front
What is the significance of a Federal Tax Return in the financial aid process?
Back
A Federal Tax Return provides necessary financial information that helps determine a student's eligibility for financial aid.
4.
FLASHCARD QUESTION
Front
What is the maximum amount of financial aid the US Department of Education provides annually?
Back
The US Department of Education provides approximately $150 billion in financial aid each year.
5.
FLASHCARD QUESTION
Front
Which financial assets must be reported on the FAFSA?
Back
Financial assets that must be reported include savings accounts, investment accounts, and farm assets, but not the primary residence.
6.
FLASHCARD QUESTION
Front
When does the FAFSA application open each year?
Back
The FAFSA application becomes available online each year on October 1.
7.
FLASHCARD QUESTION
Front
What information is required if you have a driver's license when filling out the FAFSA?
Back
You will need to provide your driver's license information.
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