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Paying for College

Total questions: 15

Worksheet time: 9mins

Name
Class
Date
1.

What does FAFSA stand for?

a)

Federal Application for Free Student Aid

b)

Financial Application for Free Student Aid

c)

Financial Appeals for Fixed Subsidized Assets

d)

Free Application for Federal Student Aid

2.

How much does it cost to submit the FAFSA?

a)

Free for All

b)

Free depending on your Financial Aid results

c)

$10

d)

$100

3.

How can you find out your SAI (Student Aid Index)?

a)

Using an EFC Calculator

b)

Filing the FAFSA

c)

Your parent's tax accountant

d)

Your parent's bank

4.

When does the FAFSA go live?

a)

November 1st

b)

November 30th

c)

October 1st

d)

May 1st

5.

The COA (Cost of Attendance) includes all of these except:

a)

Books & Supplies

b)

Housing & Transportation

c)

Gas & Car Insurance

d)

Tuition & Fees

6.

Which equation helps you find your financial need?

a)

Need = FAFSA + SAI

b)

FAFSA - SAI = Need

c)

Need = COA - SAI

d)

COA + SAI = Need

7.

Grants are money you have to pay back.

a)

True

b)

False

8.

Loans are money you have to pay back.

a)

True

b)

False

9.

On this type of loan, the government will pay the interest on your student loan while you are in college and for the first 6 months after you graduate from college.

a)

Subsidized Loan

b)

Unsubsidized Loan

10.

Merit Aid is all of the following except:

a)

Money that comes from the government and has to be paid back.

b)

Free money for good grades.

c)

Is also considered a scholarship.

d)

Money that comes from the University.

11.

What is the name of the financial aid letter you will receive from each school that accepts you?

a)

Acceptance Letter

b)

Award Letter

c)

FAFSA Aid Letter

d)

Love Letter

12.

In regards to prior-prior year, for students starting college in the fall of 2025, their parents will need to use their tax information from which year?

a)

2022

b)

2021

c)

2020

d)

2023

13.

You can find and apply for scholarships on:

a)

The Merry Go Round

b)

The Queen Mary

c)

Mary, Mother of God

d)

Going Merry

14.

What is work-study?

a)

A balance between work life and school life.

b)

Getting paid to study.

c)

An on-campus job.

d)

Working at Starbucks while attending college.

15.

How often do you need to complete the FAFSA?

a)

Every year.

b)

One time.

c)

Every other year.

d)

Prior-prior year.