WorksheetsSection 2 Semester 1 Final
Total questions: 27
Worksheet time: 14mins
Name
Class
Date
1.
The FAFSA stands for the Free Application for Federal Student (a) .
a)
Loans
b)
Grants
c)
Aid
d)
Scholarships
2.
You need an FSA ID to access which website?
a)
Credit Card
b)
studentaid.gov
c)
Unsubsidized Loan
d)
Scholarship
3.
The total amount it costs to go to school, including both tuition and living expenses, is called the:
a)
Cost of Attendance (COA)
b)
Grant
c)
Grace Period
d)
Deferment
4.
If you are struggling to make loan payments, you might be able to get a (a) , which allows you to temporarily stop or reduce payments.
a)
Scholarship
b)
Consolidation
c)
Forbearance
d)
Work-Study
5.
A(n) (a) is someone who provides information on your FAFSA form, like your parents.
a)
Contributor
b)
Deferment
c)
Loan Servicer
d)
Grace Period
6.
Which type of loan is based off of Financial need and the government pays the interest while you are in school?
a)
Work-Study
b)
Scholarship
c)
Unsubsidized Loan
d)
Subsidized Loan
7.
Combining several loans into one larger loan is called (a)
a)
Consolidation
b)
Grace Period
c)
Deferment
d)
Contributor
8.
A period of time after graduation where you don't have to make loan payments is called the (a) .
a)
Forbearance
b)
Consolidation
c)
Grace Period
d)
Scholarship
9.
Failing to repay a loan according to the agreement is called (a) .
a)
Deferment
b)
Work-Study
c)
Contributor
d)
Loan Default
10.
11. A(n) (a) _________ is a report that summarizes the information you provided on the FAFSA form.
a)
Cost of Attendance
b)
Grace Period
c)
Student Aid Report (SAR)
d)
Loan Servicer
11.
The company that collects payments on your loan is called the (a) .
a)
Contributor
b)
Grace Period
c)
Deferment
d)
Loan Servicer
12.
A(n) (a) ____________ is a federal program that provides part-time employment opportunities for students with financial need.
a)
Grace Period
b)
Consolidation
c)
Deferment
d)
Work-Study
13.
A(n) (a) _____________ is a postponement of payment on a loan allowed under certain conditions.
a)
Subsidized Loan
b)
Unsubsidized Loan
c)
Grace Period
d)
Deferment
14.
A(n) (a) __________ is a tax-exempt financial aid that may be given for many purposes, not necessarily just for education and does not have to be repaid.
a)
Loan Servicer
b)
Deferment
c)
Grant
d)
Work-Study
15.
Like education loans, you have to pay back Federal education Grants?
a)
True
b)
False
16.
You will only need to apply ONCE for financial aid.
a)
True
b)
False
17.
You can work part-time on campus to help pay for tuition.
a)
True
b)
False
18.
If you fall under "Financial need" the college has to pay you every year.
a)
True
b)
False
19.
Scholarships are awarded based on achievements and ability.
a)
True
b)
False
20.
The earlier you apply for financial aid, the better.
a)
True
b)
False
21.
If you qualify for Loans you should take the full amount even if it is more than you need to cover Cost Of Attendance.
a)
True
b)
False
22.
If your family makes a lot of money, you shouldn't bother filling out the FAFSA.
a)
True
b)
False
23.
Even if a student drops out of school, they still have to pay back any student loans.
a)
True
b)
False
24.
Students can only apply for and earn one scholarship.
a)
True
b)
False
25.
Your parents and you both need to create a Federal Student Aid ID and PIN to fill out the FAFSA.
a)
True
b)
False
26.
You should fill out the FAFSA as early as October of your senior year.
a)
True
b)
False
27.
In order to fill out the FAFSA you will need you Drivers License, Tax documents to show income, and your Social Security Number.
a)
True
b)
False
100 %
