Financial Aid

A need-based work program through which a student works up to 19 hours per week to earn money to help pay for school expenses is Federal Work-Study (FWS)

• a. true

• b. false

Federal Direct Subsidized Loan is

• a. non-need-based loan borrowed by the parent for the undergraduate student where interest accrual begins immediately

• b. Requires that the parent pass a credit history check

• c. non-need-based loan where interest accrual begins immediately

• d. need-based, interest-free loan while a student remains consecutively enrolled at least half-time

Federal Direct Unsubsidized Loan is

• a. non-need-based loan borrowed by the parent for the undergraduate student where interest accrual begins immediately

• b. non-need-based loan where interest accrual begins immediately

• c. need-based, interest-free loan while a student remains consecutively enrolled at least half-time

• d. none of these are correct

Federal Parent PLUS loan is a non-need-based loan borrowed by the parent for the undergraduate student where interest accrual begins immediately

• a. True

• b. False

Influences in Financial Aid Eligibility include:

• a. Student Level (Undergraduate versus Graduate)

• b. Degree Level

• c. Enrollment Level

• d. All of these are correct

What information is required for Verification?

• a. Verification Worksheet

• b. IRS tax form 4506-C

• c. For foreign tax filers: Foreign Income Worksheet and Foreign Tax Return

• d. all of these are correct

What is the primary purpose of the Free Application for Federal Student Aid (FAFSA)?

• a. To apply for scholarships

• b. To determine eligibility for federal student aid

• c. To apply for private student loans

• d. To register for classes

Which of the following is true about Federal Pell Grants?

• a. They are need-based grants that do not need to be repaid

• b. They are loans that must be repaid with interest

• c. They are awarded based on academic merit

• d. They are only available to graduate students

If a student wants to apply for financial aid and the student is a U.S. citizen or permanent resident, the student must...

• a. Go to studentaid.gov and complete a FAFSA as soon as possible.

• b. The student should complete a TASFA.

Which of the following is a requirement for maintaining eligibility for federal student aid?

• Maintaining satisfactory academic progress

• Enrolling in at least 6 credit hours per semester

• Completing the FAFSA every year

• All of the above