FAFSA BASICS
What does FAFSA stand for?
What is Free Application for Federal Student Aid
What does SAI stand for?
What is Student Aid Index
Do Pell Grants need to be paid back?
No
When do students receive a refund check?
When aid exceeds tuition/fees
Is rent a need or want?
Need
Name one type of aid FAFSA provides
What is Grants, Work‑Study, Loans
Is a LOW SAI good or bad for receiving more aid?
Good — lower SAI = more aid
Who gets the Federal Pell Grant?
Undergrads with exceptional financial need
Refund checks must cover what kind of expenses?
School‑related and essential living expenses
Name a common WANT students overspend on
Eating out, DoorDash, entertainment
Name a major college expense FAFSA can help pay for
What is Tuition, Housing, Books, Transportation, Supplies, Groceries
Name one factor used to calculate SAI
What is Family income, family size, assets
What must you complete to receive grants?
What is FASFA
What should you pay for FIRST with a refund?
Housing
Which common college cost is a NEED?
Groceries
True or False: Everyone receives financial aid.
False, financial aid depends on many factors
What formula do colleges use to calculate financial need?
What is COA – SAI = Financial Need
Name another federal grant besides Pell
FSEOG (Supplemental Educational Opportunity Grant)
Why are refund checks dangerous if misused?
Debt/ Homelessness/ Money difficulty
Name a common college expense that students think is a WANT, but is actually a NEED.
Personal hygiene products (toiletries, cleaning items)
List TWO factors that determine federal aid
Family income, assets, household size, COA, enrollment status, SAI
True or False: SAI can be as low as –1500
True — SAI ranges from –1500 to 999999
What is the max Pell Grant amount?
What is $7,395?
What percentage in the 50/30/20 rule goes to “Needs”?
50%
Name a hidden cost students forget when budgeting
Laundry, toiletries, transportation emergencies.