Senior Financial Literacy

What does FAFSA stand for?

• Financial Aid Federal Student Application

• Federal Aid For Students Application

• Free Application for Federal Student Aid

• Final Application for Federal Student Aid

Who should fill out the FAFSA?

• Only those who need help paying for college.

• Everyone.

• Only those going to a 4-year college.

• Only those going to a 2-year college.

What does "SAI" stand for?

• Student Application Indication

• Student Aid Index

• Special Application Interest

• Student Aid Incomplete

True or False: SAI is the number used to determine your eligibility for financial aid.

• True

• False

Which type of financial aid is free money (financial aid that doesn't have to be repaid or earned)?

• Grant

• Work-Study

• Student Loan

What is the date during senior year when you can start your FAFSA?

• October 1

• December 1

• December 31

• January 1

True or False: If my parent(s) doesn't want to pay for college then I can claim to be an independent student.

• True

• False

True or False: You only have to do the FAFSA for your first year in college.

• True

• False

This is determined from family and student income and assets for the prior year. The amount is derived from a need analysis of the family’s financial circumstances. This number is used to determine the amount of federal aid a student is eligible for.

• Student Aid Index (SAI)

• FAFSA

• Federal Direct Student Loan Program

• Financial Aid Package

A form sent to the student after submitting the FAFSA.

• Student Aid Report (SAR)

• Work-Study

• Award Letter

• Cost of Attendance