Vocabulary
This type of financial aid is usually need-based and does not have to be paid back.
Grant
This is what FAFSA stands for.
Free Application for Federal Student Aid
How much federal loans was Lily offered for Fall 2026?
$2,750
If Lily drops to taking 14 credits, will her financial aid most likely increase or decrease?
Decrease
This type of financial aid is usually need-based where students find a job on campus to help them pay for college.
Work-Study
Minnesota Dream Act, CSS Profile, Scholarship Applications
What is Lily's total amount of grants for the academic year?
$18,630
If Lily decides to live off-campus, will her financial aid most likely increase or decrease?
Decrease
For this state specific scholarship, your family must make under $80,000/year and you must be enrolled in a public or tribal college in Minnesota (in addition to other eligibility factors) for you to qualify for this scholarship.
North Star Promise
True or False? I must have applied to a college to list it on my FAFSA.
False
If Lily decides not to borrow loans or pursue work study, what is her final direct cost (billable cost) for the entire year?
$14,870
If Lily's final high school GPA increased dramatically at the end of the year and she resubmits her transcript to the Admissions Office, will her financial aid most likely increase or decrease?
Increase
This is the largest federal grant program administered by the government.
Pell Grant
For FAFSA, generally speaking (with all other independent factors not met), how old do you have to be in order to be considered a independent student who no longer needs parent information on the FAFSA?
24+
If Lily decides not to borrow loans, what is her final direct cost (billable cost) for only Fall semester?
$7,435
If Lily receives a better offer from a similar school and submits a competitive appeal, will her financial aid most likely increase or decrease?
This type of federal student loan does not accrue interest while the student is enrolled at least half-time in college.
Subsidized Loan
I can only include up to this many schools on my FAFSA.
20
Lily received an outside scholarship of $4,000 for the year. She will also borrow her subsidized loan and pursue work study. What is her final direct cost for Fall 2026?
$1,685
If Lily's parents made less money in 2025 and complete a Special Circumstance request for the college, will her financial aid most likely increase or decrease?
Increase