WorksheetsFAFSA Changes Quiz
Total questions: 10
Worksheet time: 3mins
What is the new name for Expected Family Contribution (EFC)?
Financial Aid Eligibility (FAE)
Student Aid Index (SAI)
Family Contribution Index (FCI)
Student Aid Report (SAR)
What is the new name for the Student Aid Report (SAR)?
Financial Aid Summary (FAS)
FAFSA Submission Summary
Pell Grant Eligibility Report (PGER)
Student Aid Index Report (SAIR)
What additional factor is used to determine eligibility for Pell Grant money?
Student Aid Index (SAI)
Parental Contribution (PC)
Total Family Income (TFI)
Adjusted Gross Income (AGI)
What happens to the 'discount' for families with more than one child in college?
It is no longer provided
It is increased
It is decreased
It remains the same
Who fills out the FAFSA form if parents are divorced or separated?
The parent who gave more financial support two years ago
The parent that the student lives with
Both parents need to fill out separate forms
The parent with the higher income
How does receiving money gifts for college affect a student's ability to receive aid?
It does not affect their ability to receive aid
It increases their ability to receive aid
It decreases their ability to receive aid
It depends on the amount of money received
What is the purpose of the FAFSA income protection allowance?
To determine the repayment plan for student loans
To calculate the interest rate on student loans
To determine the maximum amount of financial aid a student can receive
To exclude a portion of parent and student income from the financial aid eligibility formula
What is the new income driven repayment plan replacing REPAYE?
SAVE
IDR
SAI
FAFSA
What is the new percentage of a borrower's discretionary income owed under the SAVE plan?
15%
10%
20%
5%
What is the new timeline for loan forgiveness under the SAVE plan?
10 years
15 years
20 years
25 years
