Financial Aid Basics
What does FAFSA stand for?
Free Application for Federal Student Aid
What’s the difference between a scholarship and a loan?
Scholarships are free money; loans must be repaid
When does the FAFSA open each year?
October 1st
What is a work-study job?
A part-time campus job funded by federal aid
Name one expense besides tuition that college students pay for.
Books, housing, food, transportation, etc.
Name one main type of financial aid.
Grant, Loan, or Scholarship
What is a need-based scholarship?
Given to students based on financial need
What information do you need from your parents for FAFSA?
Tax returns, income, SSN, and household info
Name one benefit of being a Resident Assistant (RA).
Free housing, leadership experience, or stipend
What’s a “budget”?
A plan for how you’ll spend and save money
What is the deadline for NY State students to file the FAFSA for the 2025–2026 school year?
June 30, 2026 (but schools may have earlier deadlines)
Name one place you can find scholarships.
FastWeb, College Board, local community, NYU/Bard websites
What is an FSA ID used for?
To log in and electronically sign the FAFSA
True or False: You can only work on campus if you have work-study.
False — any student can apply for on-campus jobs
What’s one way to save money in college?
Used textbooks, meal prepping, student discounts
True or False: You only need to fill out FAFSA once for all four years.
False — it must be filled out every year
What is the Excelsior Scholarship?
A NY State scholarship that covers tuition for eligible public college students
What does EFC (Expected Family Contribution) mean?
How much the government expects your family to pay toward college
Give one example of an on-campus job.
Library aide, tutoring center, dining hall, gym attendant, etc.
True or False: It’s cheaper to live on campus than off campus.
Depends on location, but often false
What is the purpose of the FAFSA?
To determine how much financial aid you qualify for from the government and your school
True or False: You can lose a scholarship if your GPA drops.
True
True or False: You can fill out FAFSA even if your parents aren’t citizens.
True — students can still apply if they are eligible
Why might students choose an RA or campus job over an off-campus job?
Flexible schedule, closer to class, experience relevant to college life
What’s one financial skill every college student should learn early?
How to track expenses, pay bills, or use credit responsibly