WorksheetsFinancial Aid Resources
Total questions: 31
Worksheet time: 16mins
Where does financial aid come from?
the federal government and private sources
public schools
student's trust funds
parents bank accounts
Which is NOT a category of federal aid?
grants
work study
loans
scholarships
Which of the following is money that doesn’t have to be repaid ?
grants
loans
credit cards
car loans
What is work study?
a student who studies while at work
a type of scholarship
a student works part-time to earn money for education
a private loan
Who is eligible for a subsidized loan?
For anyone regardless of financial need.
Students with a scholarship.
Students who score 1200 or above on the SAT.
Only for students with financial need and the US Dept. of Education pays your interest while you’re in school + 6 months after graduation
What is money that is borrowed and must be repaid, with interest?
scholarships
loans
work study
grants
How do students get financial aid?
file taxes
To get federal grants, loans, or work-study, you must fill out the FAFSA (Free Application for Federal Student Aid).
write an essay
get good grades
When is the FAFSA online application available?
January 1st of senior year
July 1st
October 1st of senior year
November 1st of senior year
What does FAFSA stand for?
Free Access For Free Student Aid
Financial Aid For Student Accounts
Financial Aid for Support Account
Free Application for Federal Student Aid
Which website do you go to file your FAFSA?
www.fafsa.gov
www.fafsa.org
www.fafsa.com
www.fafsa.net
What do I need in order to apply for federal aid? Choose all that applies.
A high school diploma or a General Educational Development (GED) certificate
You must have your birth certificate.
You must have a valid Social Security number (SSN)
You must be enrolling as a student leading to a degree or certificate in an eligible program
In order to apply for FAFSA, you must fulfill Selective Service registration (if you’re a male age 18 through 25 you can register online at www.sss.gov )
True
False
In order to get federal aid, a student must sign a statement agreeing to only use federal student aid for educational purposes.
True
False
In order to apply for FAFSA, you must meet satisfactory academic progress standards set by the post-secondary school you will be attending.
True
False
What does Financial Aid pay for? Choose all that applies
tuition and fees
room and board
books and supplies
vacation
Students can use financial aid to pay for transportation, and other education related expenses.
True
False
How much aid you get depends on all of the following EXCEPT
Your financial need (aid for most programs is awarded based on financial need)
Your cost of attendance (total amount it will cost you to go to school)
Your grades and GPA
Your enrollment status (that is, full-time, half-time, etc.).
You will receive this report shortly after you submit your FAFSA.
Student Acceptance Award
Student Aid Report (SAR)
Subsidized Loan
Unsubsidized Loan
Schools you apply to will use this Expected Family Contribution (EFC) to offer you financial aid awards.
True
False
When you fill out the Free Application for Federal Student Aid, you're also automatically applying for funds from your state and possibly from your school as well.
True
False
Some schools won't consider you for any of their scholarships until you submit a FAFSA.
True
False
Only students from low-income families should apply for the FAFSA.
True
False
Your financial need determines your financial aid.
True
False
FAFSA applicants must have a valid Social Security number.
True
False
Federal financial awards through FAFSA are based on need not merit.
True
False
Unsubsidized loans are not based on financial need.
True
False
The Pell Grant does not need to be paid back.
True
False
Financial aid is free money!
True
False
The amount of financial aid you receive will differ from school to school.
True
False
Students must be enrolled as a full-time student to be eligible for financial aid.
True
False
Since my parents won’t/can’t take out loans, I shouldn’t complete FAFSA.
True
False
