Understanding Financial Aid Basics

What is a common type of financial aid that does not need to be repaid?

• Student Loan

• Grant

• Work-Study

• Credit Card

Which of the following is a requirement for most federal financial aid programs?

• Being a U.S. citizen or eligible non-citizen

• Having a full-time job

• Owning a car

• Being over 25 years old

What is the first step in the financial aid application process?

• Applying for scholarships

• Filling out the FAFSA form

• Meeting with a financial advisor

• Registering for classes

Which type of aid is typically offered by the federal government?

• State grants

• Federal Pell Grants

• Private scholarships

• Institutional aid

What is the main difference between federal and state financial aid?

• Federal aid is only for graduate students

• State aid is available to all students regardless of residency

• Federal aid is available nationwide, while state aid is specific to residents of that state

• State aid is only for international students

Which of the following is true about scholarships?

• They must be repaid after graduation

• They are only available to athletes

• They are awarded based on merit or need and do not need to be repaid

• They are only for students with a GPA of 4.0

What is a common eligibility requirement for state financial aid?

• Being a resident of the state

• Having a job in the state

• Owning property in the state

• Being a member of a state political party

Which of the following is NOT a type of financial aid?

• Scholarships

• Grants

• Student Loans

• Credit Cards

What is the purpose of the FAFSA form?

• To apply for a job

• To apply for federal student aid

• To register for college classes

• To apply for a driver's license

Which of the following statements is true about grants?

• They are loans that must be repaid with interest

• They are gifts that do not need to be repaid

• They are only available to students with a GPA of 3.5 or higher

• They are only for students in their final year of study