FAFSA Fundamentals
The required form that students must complete every year to be considered for federal financial aid.
What is the Free Application for Federal Student Aid (FAFSA)?
This type of financial aid is often awarded based on financial need and does not need to be repaid.
What is a grant Grant?
Unlike grants and scholarships, this form of financial aid must be repaid with interest.
What is a student loan?
This is the time after you graduate, leave school, or drop below half-time enrollment before you must begin making payments on your federal student loans.
What is a grace period?
Mea's favorite food
What is pizza
This is the date each year when the FAFSA becomes available for the following academic year.
What is October 1?
his form of free money is often awarded based on merit, such as academic achievement, athletic ability, or other skills.
What is a scholarship?
On this type of federal loan, the government pays the interest while the student is in school at least half-time
What is a subsidized loan?
This is the official name for the letter you receive from a college that details the financial aid package they are offering you.
What is an award letter/Funding estimate?
What 2 languages are spoken in Brussels?`
What is French and Dutch
This is the term for a student who does not need to include parental information on their FAFSA.
What is an independent student?
A federal grant program for undergraduate students with exceptional financial needs.
What is a Pell Grant?
This federal loan is available to graduate students or parents of undergraduate students to help pay for college or career school.
What is a PLUS loan?
This is the name for the process of combining multiple federal student loans into a single, new loan.
What is loan consolidation?
If someone enters a room with a matchbook, a candle, an oil lamp, and a heater, what is the first thing they light?
What is a match
This ID is required for both the student and a parent (if dependent) to sign the FAFSA electronically.
What is an FSA ID?
This federal grant is for undergraduate students who have an exceptionally high financial need and demonstrate the most need for federal student aid
What is a Federal Supplemental Educational Opportunity Grant (FSEOG)?
This is the document a borrower must sign to agree to the terms and conditions of a federal student loan.
What is a Master Promissory Note (MPN)?
A condition that requires you to maintain a certain academic standard to remain eligible for financial aid.
What is Satisfactory Academic Progress (SAP)?
What fruit has berry in its name but is not a berry
What is a strawberry, blackberry or a raspberry
A student's eligibility for federal aid is determined by subtracting this from the cost of attendance.
What is the Student Aid Index (SAI), formerly known as the Expected Family Contribution (EFC)?
Money awarded by a college or university from its own funds, sometimes called a tuition waiver.
What is institutional aid?
A type of loan offered by banks or other private institutions that often has higher, variable interest rates and fewer repayment options than federal loans.
What is a private student loan?
This is the amount a student pays for school after scholarships, grants, and other aid are subtracted from the total cost of attendance.
What is net price?
A common spice that can induce hallucinations if consumed in a large quantities
What is nutmeg?