FAFSA Vocabulary Quiz

What does FAFSA stand for?

• Free Application for Federal Student Aid

• Free Assistance for Federal Student Aid

• Financial Aid for Student Applications

• Federal Aid for Student Assistance

What is the first step in the FAFSA application process?

• Create an FSA ID

• Contact the financial aid office.

• Gather personal identification documents.

• Submit proof of income.

What is the deadline for submitting the FAFSA form?

• June 30th

• December 31st

• March 1st

• September 15th

What is the Expected Family Contribution (EFC)?

• The Expected Family Contribution (EFC) is a measure of a family's financial strength and is used to determine a student's eligibility for need-based financial aid.

• The Expected Family Contribution (EFC) is a fixed amount of money that every family is required to contribute towards a student's education.

• The Expected Family Contribution (EFC) is a measure of a student's academic performance and is used to determine their eligibility for scholarships.

• The Expected Family Contribution (EFC) is the total amount of money a family is expected to contribute towards a student's education.

What is the purpose of the FAFSA application?

• To determine eligibility for federal financial aid for college.

• To apply for scholarships for college.

• To determine eligibility for state financial aid for college.

• To request a loan for college expenses.

Social security number, drivers license number, and current address are required as part of the FAFSA application

• True

• False

A FAFSA application requests tax information from how many years ago?

• None, it's real-time.

• Two years ago

• Last year.

• Five years ago

The FAFSA Application provides an opportunity to be considered for work-study jobs.

• True

• False

What is the SAR (Student Aid Report)?

• A summary of a student's loan repayment plan.

• A document that outlines a student's financial aid package.

• A report of a student's academic performance.

• Summary of information provided on the FAFSA

What is the role of the FSA ID in the FAFSA application process?

• The FSA ID is used to electronically sign the FAFSA and access personal information.

• The FSA ID is used to request additional financial aid.

• The FSA ID is used to submit the FAFSA application.

• The FSA ID is used to determine eligibility for federal student aid.