Federal Financial Aid Quiz

What is a Federal Pell Grant?

• A loan that must be repaid

• A grant based on academic performance

• A grant based on family contribution that does not need to be repaid

• A scholarship for international students

What is the purpose of work-study programs?

• To provide scholarships for high-achieving students

• To offer jobs through the college as an alternative to student loans

• To fund research projects for graduate students

• To provide internships in private companies

What type of aid is available from the state based on the lottery?

• Merit-based scholarships

• Need-based grants

• Athletic scholarships

• International student loans

What is a characteristic of Direct Subsidized Loans?

• Interest accrues while in school

• Need-based with interest paid by the government while in school

• Requires a credit check

• Not based on financial need

Which type of loan is not based on financial need and accrues interest while in school?

• Direct Subsidized Loans

• Direct PLUS Loans

• Direct Unsubsidized Loans

• Private Loans

What is a requirement for Direct PLUS Loans?

• No credit check required

• Only for undergraduate students

• Requires a credit check

• Interest paid by the government

Under what condition can student loans be forgiven?

• Based on financial need

• Depending on what you do for a career after college

• If you are an undergraduate student

• If you pay interest while in school

What type of scholarships are mentioned as available for students?

• Merit-based scholarships

• Need-based scholarships

• Athletic scholarships

• International scholarships

What can scholarships help pay for according to the text?

• Vacations

• Rent, cars, school supplies

• Luxury items

• Entertainment

Why is it suggested to apply for scholarships?

• It guarantees acceptance

• It never hurts to try

• It is a requirement for graduation

• It is mandatory for all students