Education & Skill Development: Funding Your Education

Scholarships and grants need to be paid back after graduation.

• True

• False

Unsubsidized loans are available to students only based on need.

• True

• False

Research consistently indicates that millions of dollars set aside for scholarships go unclaimed each year

• True

• False

Which of these federal websites could you visit in order to apply for financial aid?

• a) studentaid.gov

• b) usa.gov/financial-aid

• c) studentloans.gov

Enrollment, or acceptance for enrollment, as a regular student in an eligible program is one of the requirements for financial aid eligibility.

• True

• False

Markus is a 21-year old second-year undergraduate who lives with his parents. For how much total annual student loan is he eligible, given his situation?

• a) ) $5,500

• b) $6,500

• c) $7,500

• d) $9,500

Which of the following documents will you need to complete the FAFSA application? More than one answer may be correct.

• a) Social Security Number

• b) IRS Forms

• c) Identification (Driver’s License or Alien Registration Card)

• d) Proof of Employment

Maya is eligible for an undergraduate education loan, only $5,500 of which can be subsidized. Which of these conclusions about Maya could be true? More than one answer may be correct.

• a) Maya is a dependent first-year undergraduate.

• b) Maya is an independent third-year undergraduate.

• c) Maya is an independent second-year undergraduate.

• d) Maya is a dependent fourth-year undergraduate.

Muriel is 22 years old and lives on her own. Her parents pay her car insurance and occasionally send her money for bills. In this case, Muriel would be considered a dependent.

• True

• False

. One should always try for an unsubsidized loan before settling for a subsidized loan.

• True

• False