College Unit Review

1. A Federal Program based on substantial financial need and which does not need to be repaid

• Federal Student Aid

• FAFSA

• Pell Grant

• Scholarship

2. A program that provides funds to eligible students in exchange for part-time employment to help finance the costs of postsecondary education

• Federal Student Aid

• Work Study

• Scholarship

• Pell Grant

3. The report you will receive once you submit your FAFSA, which will contain your EFC, Pell Grant eligibility, and all other information that colleges will use to determine your financial aid package

• SAR

• EFC

• FAFSA

• ESPN

4. A form prepared annually by current or prospective college students to determine their eligibility for financial aid

• SAR

• EFC

• FAFSA

• Pell Grant

5. Type of aid primarily awarded for academic merit (good grades) or for something you have accomplished (volunteer work, athletics, etc) that does not need to be repaid

• Federal Student Aid

• Scholarship

• Student Loan

• Pell Grant

6. The largest form of student aid in the country, federal aid programs come in the form of government grants, loans, and work-study opportunities

• Federal Student Aid

• Scholarship

• Student Loans

• Pell Grant

7. Which of these options depicts the types of financial aid from MOST attractive to LEAST attractive?

• Private loans, Federal loans, Work-study, Grants/Scholarships

• Work-study, Grants/Scholarships, Federal loans, Private loans

• Grants/Scholarships, Work-study, Federal loans, Private loans

8. In order to qualify for financial aid, which form must you file?

• FAFSA

• SAR

• EFC

• Pell Grant

9. Julia lives on campus. Which of the following cost categories can she most likely remove from her budget?

• Monthly on-campus parking permit

• Meal Plan

• Tuition

• Books

10. What is a good rule of thumb to consider when it comes to student loan debt?

• You should borrow as much money as you can through private loans and then take out federal loans

• You should generally limit your borrowing to what you expect to earn as a starting salary when you leave college

• You should never borrow money to go to college because it is unlikely that you will be able to pay it back