General Info
Name three types of financial aid?
Loans, grants, and scholarships
(also work-study and educational savings plan)
TRUE or FALSE:
The FAFSA is free to complete
TRUE
You should not pay any fee to complete the FAFSA. It is FREE and free assistance is available.
TRUE or FALSE
The federal government only gives out loans to students
FALSE
The Free Application for Federal Student Aid (FAFSA) can qualify BOTH students and their parents for loans to help pay for college.
How do you qualify for work-study?
Check the work-study option when you file the FAFSA. (Your FAFSA information will determine your eligibility for work-study.)
TRUE or FALSE:
Grants are "free" money and do not need to be repaid
TRUE
Who should you contact to talk about your financial aid package?
The Financial Aid Office at the school to which you applied.
What is the earliest you can complete the FAFSA for the upcoming school year?
October 1st
ex. For the 2024-2025 school year, you can start the FAFSA on October 1, 2023
What is the name of the federal loan given to parents of college students?
The PLUS loan
How do I find a work-study job?
The Financial Aid Office at your college can tell you where to find work-study job listings both on and off campus.
What is a Pell grant?
A Pell grant is a grant given by the federal government for post-secondary education.
What's the difference between a loan and a grant?
Loans have to be repaid. Grants are "free" money.
What are the age requirements for the FAFSA?
There are none. The FAFSA is open to students of any age.
What is the name of the federal loan given to most students?
The Stafford loan
Some students also qualify for a Perkins loan.
When do I get the money I earn through work-study?
Work-study money is given in the form of a paycheck. Depending on your job, you may get a weekly, bi-weekly, or monthly check.
What factors determine if you get a grant?
Financial Need(determined by your FAFSA) Timeliness(grant money is given on a "first come-first serve" basis. The earlier you complete your FAFSA, the better)
TRUE or FALSE:
Enrolling as a part-time student will affect your financial aid package.
TRUE
Your status as a full-time or part-time student determines your eligibility for aid. Generally, more aid is available for full-time students.
How often should you complete the FAFSA?
Every year you plan on attending school
What does it mean if you get a loan that is "subsidized"?
The government will pay the interest on your loan while you are in school.
Is there a limit to the amount of money you can earn through a work-study job?
YES
The amount of work-study money you can earn per year is determined by your FAFSA and shown on your Student Aid
Other than the federal government, who else gives out grants for college?
The state of California
Name three sources of financial aid. Loans need to be paid back, grants do not.
The federal government, The state government, The school you plan on attending, Employers, Banks, Scholarships organizations, Family and Faith-based organizations
What does FAFSA stand for?
Free Application for Federal Student Aid
When do you have to start repaying your federal loans?
Six months after you have completed school or stopped enrolling
TRUE or FALSE:
Individual colleges offer their own grants and scholarships
TRUE!
Financial aid is available from colleges themselves as well as the federal and state government.
How do you get a state grant?
1. Complete the FAFSA.
2. Complete the state grant form.