Financial Aid Basics
What does FAFSA stand for?
What is the Free Application for Federal Student Aid?
This is what SAP stands for in financial aid.
What is Satisfactory Academic Progress?
This federal program lets students earn money while working part-time on campus.
What is Federal Work-Study?
You must complete this online counseling before receiving federal student loans.
What is Entrance Counseling?
This is the date the Fall semester balance is due
What is August 10, 2025?
This type of aid does not have to be repaid.
What is a grant or scholarship?
True or False: If you fail to meet SAP standards, you can lose your financial aid.
What is true?
This is where you can find job listings and applications for jobs on campus.
What is the VWU website (https://www.vwu.edu/campus-life/work-and-learn/)
This is the loan type where the government pays the interest while you're in school.
What is a subsidized loan?
Name 2 items you should have completed in order to know your true balance
-Accept all awards
-Waive insurance
-Notify the school of all outside scholarships
True or False: You only have to apply for financial aid once during your college career.
What is false? (You must reapply each year.)
This is the minimum GPA most students must maintain to meet SAP requirements for federal aid.
What is a 1.8 for Freshman students?
Name one benefit of working on campus.
What is flexible hours / close to class / networking / money for expenses?
This kind of loan forgiveness may be available after 10 years of working in public service.
What is Public Service Loan Forgiveness?
The SFRA is an acronym that stands for this
What is the Student Financial Responsibility Agreement?
This is where you can view and accept or decline your aid package online.
What is the Financial Aid Self-Service Portal?
Students must complete at least this percentage of the classes they attempt to maintain SAP.
What is 67%?
What must a student complete in order to participate in the WLP?
What is the FAFSA?
These are options for additional funding in the form of loans
What are the Parent PLUS Loan and Alternative Private Education Loans?
This is where you can access your balance information online
What is the Bill Payment Portal?
This $1,000 grant is offered every year that you apply for financial aid.
What is the FAFSA grant?
If a student fails to meet SAP, they may be able to regain financial aid eligibility by submitting this.
What is a SAP Appeal?
True or False: Federal Work-Study earnings are deducted from your tuition bill.
What is false? (You’re paid directly and can use it as needed.)
This term refers to the total you owe on your student loans.
What is principal?
You must do this if you want to receive a refund
What is set up an online refund request for direct deposit?