12 Financial Aid Myths and Realities Quiz

What percentage of full-time, first-time undergraduate students receive some form of financial aid?

• 83%

• 50%

• 90%

• 70%

Which university is mentioned as having a pledge that financial circumstances will not keep students from attending?

• Princeton University

• Harvard University

• Yale University

• Stanford University

What types of financial aid do not have to be repaid?

• Loans

• Grants and scholarships

• Work-study jobs

• All of the above

Why might a more expensive college be more affordable than a cheaper one?

• They have better facilities

• They have lower living costs

• They have fewer students

• They offer more financial aid

What should you be cautious of when searching for scholarships or financial aid?

• Free services

• High-pressure tactics

• School counselors

• Online applications

What should you do if you expect to receive a lot of scholarships?

• Not apply for any aid

• Wait until you get accepted

• Apply for all types of aid

• Only apply for scholarships

What form is required to qualify for most need-based financial aid?

• CSS Profile

• FAFSA

• SAT

• ACT

When should you start planning for financial aid?

• Junior year

• Senior year

• After acceptance

• After graduation

What is the average loan debt of undergraduate students today?

• $20,000

• $10,000

• $40,000

• $30,000

How much total annual financial aid is available to students?

• $150 billion

• $230 billion

• $200 billion

• $100 billion