Everything You Need to Know About Student Financial Aid

The video tutorial explains the complexities of student financial aid, focusing on two main types: merit-based and need-based aid. Merit-based aid is awarded based on academic and extracurricular achievements, often in the form of scholarships from schools or local organizations. Need-based aid requires filling out the FAFSA form, which determines eligibility for federal aid, including loans, grants, and work-study programs. The video also covers the importance of accurate FAFSA submission and the different types of financial aid available, such as the Federal Pell Grant and various loan options.

What is the primary focus of merit-based financial aid?

• Financial need of the student

• Student's academic and extracurricular achievements

• Student's family income

• Student's geographical location

Which form must be completed to qualify for need-based aid?

• SAT

• CSS Profile

• FAFSA

• Common Application

What is a key component of a financial aid offer that does not require repayment?

• Work-study

• Grants

• Loans

• Scholarships

Which type of loan requires dealing directly with a lender?

• Federal loans

• Grants

• Work-study

• Private loans

What is the most popular need-based aid program in the United States?

• Perkins Loan

• Direct Subsidized Loans

• Federal Pell Grant

• Federal Work-Study