Financial Aid 101
The application used to apply for financial aid.
What is the FAFSA?
The number of credits a student needs to be enrolled in to qualify for a student loan.
What is 6?
The earliest date that FAFSA forms can be completed for the upcoming school year.
What is October 1?
FAFSA
What is Free Application for Federal Student Aid?
These have a relatively low-interest rate and need to be repaid.
What is a loan?
The government pays the interest on this type of loan while you are enrolled at least half-time.
What is a Subsidized Stafford Loan?
Online FAFSA applications must be submitted by midnight Central Time on this date every year.
When is June 30th?
EFC (hint: this is the amount your family should be able to pay towards your education based on your FAFSA)
What is the Estimated Family Contribution?
Type of financial aid that does not have to be repaid, and is based on grades or merit.
What is a Scholarship?
What you need to create to electronically sign your FAFSA.
What is the FSAID?
The type of loan where the government does not pay your interest while you are enrolled at least half-time.
What is an Unsubsidized Stafford Loan?
The three most common months for scholarship deadlines.
What are the months of February, March, and April?
SAP (hint: how well are you progressing?)
What is Satisfactory Academic Progress?
This type of financial aid does not have to be repaid and is based on financial need.
What is a Grant?
The total number of schools can you add to the FAFSA.
What is 10?
The number of months you have as a "grace period" (after you stop attending school/ drop below half-time) before you have to begin repayment of your Stafford loans.
What is 6 months?
The date that you must submit an enrollment deposit/complete a letter of intent at the college you will attend.
What is May 1?
MPN (hint:your promise to repay your student loans)
What is a Master Promissory Note?
This type of financial aid is need-based and must be earned by working a job.
What is Work Study?
You are generally considered a Dependent Student until you reach this age.
What is 24?
The quiz that you must complete electronically before your loans are disbursed.
What is an Entrance Counseling Interview?
After this number of years, you will need to complete a new Master Promissory Note.
What is 10 years?
SAR (hint: this is sent to you to summarize the information on your FAFSA)
What is Student Aid Report?
The website that you can visit to obtain additional help via a phone call, online chat or email to complete the FAFSA.
What is the Federal Student Aid Information Center page?