Paying for College 101 Quiz

Where does financial aid come from?

• The college you attend (based on FAFSA or WASFA)

• Private scholarship organizations

• None of the above

• Both A and B

What is the first step after completing the FAFSA?

• Review your FAFSA Submission Summary

• Receive financial aid packages

• Apply for scholarships

• Understand your financial aid options

What is the purpose of the FAFSA Submission Summary?

• To make changes to your FAFSA

• To determine your student aid index

• To find out which scholarships you qualify for

• To review your financial aid offers

What is the maximum annual amount of the current Federal Pell Grant?

• $15,000

• $10,315

• $7,395

• $5,500

What is the eligibility requirement for the Federal Supplemental Educational Opportunity Grant (FSEOG)?

• Must have a high GPA

• Must demonstrate exceptional financial need

• Must be a resident of Washington state

• Must commit to teaching at a low-income school

What is the WA College Grant/WA State Need Grant?

• A grant for students attending a school in Washington state

• A grant for students whose parent or guardian died in military service

• A grant for students with exceptional financial need

• A grant for students going into teaching

What is the maximum amount of the Direct Subsidized Loan for freshman year?

• $10,000

• $7,500

• $5,500

• $3,500

What is the interest rate for the Direct Unsubsidized Loan for dependent undergrads?

• 6.5%

• 5.5%

• 4.5%

• 3.5%

What is the purpose of work-study?

• To work around your class schedule

• To make a paycheck

• All of the above

• To gain work experience

What should you consider when evaluating financial aid packages and comparing colleges?

• The out-of-pocket net price

• All of the above

• The cost of attendance

• The total amount of financial aid offered