True or False
100

You have to be low-income to receive financial aid. 

False.

Financial aid is determined by family income. Lower income = more aid, but aid is not exclusive to low-income applicants. 

200

You need to reapply for financial aid every year you are in college. 

True. 

You must reapply for aid every year so schools can ensure you continue to receive the amount of aid you qualify for.

300

The FAFSA (Free Application for Federal Student Aid) is the only form needed to apply for financial aid. 

False.

While all schools require the FAFSA, some also require another form called the CSS Profile. 

400
All federal student loans begin accruing (building) interest as soon as they are taken out. 

False.

There are different types of federal student loans. Some accrue interest immediately (unsubsidized) and other do not until six months after you graduate (subsidized). 

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