Funding Your Way Through College Quiz

What is the purpose of the Federal Work-Study program?

• To fund research projects for college students

• To provide low-interest loans to students in need

• To offer scholarships to high-performing students

• To provide part-time jobs for financially needy undergraduate and graduate students

What is the main difference between grants and scholarships?

• Grants are based on merit while scholarships are based on financial need

• Grants need to be paid back if you drop out of school while scholarships do not

• Grants are only available to undergraduate students while scholarships are available to graduate students

• Scholarships are provided by the government while grants are provided by private organizations

What is the primary purpose of the FAFSA application?

• To ensure that students are actually going to college full time

• To keep track of how much money students have

• To provide federal financial aid based on the financial needs of the student

• To award scholarships and grants to high-performing students

What is the eligibility requirement for most financial aid programs?

• Completing high school or an equivalent program

• Having a valid social security number

• Having parents that can pay for your tuition

• Being enrolled in an eligible degree or certificate program

What is the purpose of the Federal Pell Grant Program?

• To provide low-interest loans to students in need

• To offer scholarships to high-performing students

• To fund research projects for college students

• To provide funds to financially needy undergraduate students

What is the main purpose of the Federal Student Aid (FSA) office?

• To distribute scholarships to high-performing students

• To offer low-interest loans to students in need

• To manage various student financial assistance programs

• To provide free assistance to students throughout the process of obtaining aid

What is the main benefit of federal student loans compared to private loans?

• Federal loans offer higher loan amounts

• Federal loans do not require repayment

• Federal loans have lower interest rates and easier repayment

• Federal loans have more flexible eligibility requirements

What may happen if you do not make consistent, on-time, payments for a student loan?

• You may go into default

• You may go into debt

• Your credit score will be boosted

• You will be reprimanded by the President

What happens if a student loan goes into default?

• Your credit score is negatively impacted

• Your credit score is positively impacted

• You will win a major award

• Nothing, payment is only a suggetion