FAFSA Process

In what month does the FAFSA become available for the following year?

• August

• September

• October

• November

Answer explanation

The FAFSA becomes available for the following year in October. This is the correct choice as it aligns with the timeline for FAFSA applications.

Who uses the FAFSA once you have submitted it?

• Your parents

• You

• Teachers

• Colleges

Answer explanation

Colleges use the FAFSA once you have submitted it to determine your eligibility for financial aid.

How often should you apply for FAFSA?

• Every year you're in college

• Every month

• Only once

Answer explanation

Every year you're in college is the correct choice as FAFSA needs to be applied for annually to determine financial aid eligibility.

Where do you go to complete your FAFSA?

After submitting your FAFSA, what do you receive?

• Money

• Submission

  Summary with your Student Aid

  Index (SAI)

• A gold star

Answer explanation

After submitting your FAFSA, you receive a Submission, Summary with your Student Aid Index (SAI). These documents provide important information regarding your financial aid application.

Subsidized Direct Loans

• Given

  to those pursuing graduate and doctoral degrees

  or to parents of undergraduate students

• Interest accrues while you are in school and gets added to your

  loan balance when you start making payments

• The federal government pays the interest while you are in school

Answer explanation

The federal government pays the interest while you are in school

Direct PLUS Loans

• Given

  to those pursuing graduate and doctoral degrees

  or to parents of undergraduate students

• Interest accrues while you are in school and gets added to your

  loan balance when you start making payments

• The federal government pays the interest while you are in school

Answer explanation

The Direct PLUS Loans are given to those pursuing graduate and doctoral degrees or to parents of undergraduate students, making this the correct choice.

Unsubsidized Direct Loans

• Given

  to those pursuing graduate and doctoral degrees

  or to parents of undergraduate students

• Interest accrues while you are in school and gets added to your

  loan balance when you start making payments

• The federal government pays the interest while you are in school

Answer explanation

Interest accrues while you are in school and gets added to your loan balance when you start making payments

How are grants & scholarships different from loans?

Answer explanation

Grants & scholarships do not need to be repaid, while loans require repayment with interest.

Which price is the REAL price of attending college?

• Sticker price

• Net Price

Answer explanation

The REAL price of attending college is the Net Price, which factors in scholarships, grants, and other financial aid, giving a more accurate cost for students.