Understanding Financial Aid for College

What type of financial aid does not need to be repaid?

• Loans

• Work-study employment

• Grants

• Federal aid

Who offers work-study employment opportunities?

• Private corporations

• Federal government

• Local organizations

• All of the above

Which financial aid option requires repayment?

• Work-study

• Scholarships

• Grants

• Loans

Which source of financial aid is considered the largest?

• State programs

• Federal government

• Private sources

• Institutional grants

What is the first step in applying for federal student aid?

• Contacting financial aid offices

• Getting a federal student aid ID

• Completing the FAFSA

• Applying for scholarships

When should you complete the FAFSA for the next academic year?

• During the first semester

• As soon as possible

• After receiving acceptance letters

• Before the end of the current academic year

What is necessary to begin your FAFSA application?

• A scholarship award

• Proof of income

• A federal student aid ID

• A college acceptance letter

Where can you complete your FAFSA application?

• Through mail

• At your high school

• On the fafsa.gov website

• At the local bank

What information does the award letter provide?

• Details on how to apply for loans

• Each source of aid and its amount for one academic year

• A list of potential employment opportunities

• Guidelines for maintaining financial aid eligibility

How often must you apply for financial aid?

• Once during your college career

• Only as an incoming freshman

• Every semester

• Annually