Financial Aid Quiz

What does FAFSA stand for?

• Free Application for Federal Student Aid

• Federal Aid for Student Assistance

• Financial Aid for Students Application

• Free Aid for Student Assistance

What is the purpose of the Student Aid Report (SAR)?

• To apply for scholarships

• To determine loan eligibility

• To outline financial aid information

• To register for classes

What does the Student Aid Report (SAR) contain?

• Class schedule

• Expected Family Contribution (EFC)

• Loan repayment plan

• Scholarship applications

Which type of aid generally does not need to be repaid?

• Loans

• Grants

• Work-study

• Federal student loans

What is one of the first steps in the financial aid process?

• Applying for loans

• Submitting FAFSA

• Registering for classes

• Meeting with a financial advisor

What does the SAR determine regarding Pell Grants?

• Eligibility

• Loan amount

• Scholarship opportunities

• Work-study hours

What does the Cost of Attendance include?

• Only tuition fees

• Tuition, room and board, fees, books, and supplies

• Transportation costs only

• Health insurance only

What does an award letter outline?

• The student's academic achievements

• The financial aid package from the college

• The student's extracurricular activities

• The college's admission requirements

Does a Pell Grant need to be repaid?

• Yes, always

• No, it does not need to be repaid

• Only if the student drops out

• Only if the student fails

What is not included in the "sticker price" of education?

• Tuition

• Room and board

• Textbooks and other fees

• Transportation costs