Applications can only be selected for verification by the Central Processing System (CPS)- True or False?
What is false. An institution can select applications for verification based on:
Estimated tax figures;
Family income levels below that which the institution considers necessary for basic subsistence;
Large family size or number in college;
Completion of certain Free Application for Federal Student Aid (FAFSA) line items;
Large discrepancy between family income and assets; and
First-year status.
100
COA - EFC =
What is need?
100
Regular; Simplified; and Automatic Zero EFC are all ______within the FM framework?
What are formula types?
100
This agency verifies a student’s eligible noncitizen status through primary verification and automated secondary confirmation processes.
What is Department of Homeland Security?
100
This person is the current NHASFAA President
What is Elizabeth Keuffel?
200
Verification data elements are the same for each application. True or False?
What is false. There are five verification tracking groups.
200
COA parameters are _____restrictive for Less Than Half Time students.
What is more?
200
The following are considered ________
Model A—Dependent Student
Model B—Independent Student without Dependents Other than a Spouse;
Model C—Independent Student with Dependents Other than a Spouse.
What are Student Types?
200
These items must be verified by the school - True or False Citizenship status
Social Security Number
Selective Service registration
Default and overpayment
Borrowing in excess of annual
and aggregate loan limits
Fraudulently obtained Title IV
funds
Unusual enrollment history
What is False?
200
Last year NHHEAF assisted this number of families with the FAFSA?
a) 645
b) 1,400
c) 4,025
What is 1400
300
Education credits, tax-exempt interest income, SNAP benefits, and paid child support, are all what type of required verification data?
What is untaxed income.
300
Federal Loan origination fees are required/not required to be included in the COA?
What is required.
This allowance is required for all federal educational loans; it is optional for nonfederal educational loans.
For federal educational loans, the school may use the actual loan fee amount or an average based on the same type of loan borrowed for attendance at the school.
300
Only dependent students and independent students with dependents other than a spousecan qualify for this formula type.
What is Automatic Zero EFC.
300
This entity is responsble for validating the following enrollment criteria?
Enrollment as regular student in
eligible program
High school diploma or
recognized equivalent, home
schooling, or ability to benefit
from training or education
offered
Satisfactory academic progress
Financial need
Individual program
requirements
What is the school?
300
NHASFAA's Fall Conference in North Conway is scheduled for:
a) October 21st and 22nd
b) Oct 23rd and 24th
c) October 27th and 28th
What is a shameless plug - October 23rd and 24th. See you there:)
400
Name four of the data items the IRS Tax Transcript can verify.
What are:
1)AGI, 2)U.S income tax paid, 3)untaxed IRA distributions, 4)untaxed pensions, 5)education credits, 6)IRA deductions and payments,7) tax exempt interest.
400
True or False - Recalculation of the student’s COA is required when a student falls below less than half time to determine whether the student continues to
qualify for the entire amount of a Direct Loan.
What is True?
400
Parents with an AGI less than $49,000 and filing a 1040EZ can be evaluated under what formula type
What is Simplified?
400
A student's aid eligibility is/or is not affectedby the following:
Prior degrees; Enrollment status; Remedial coursework; Correspondence study; Study via distance education Program of study; or Incarceration
What is "is affected"?
400
The theme of last year's NHASFAA Conference in North Conway was:
a)The NHASFAA Express
b)The NHASFAA Railroad
c)NHASFAA - Planes, Trains, and Automobiles
What is NHASFAA Express?
500
ED presumes financial aid adminstrators _____this of the tax code:
If someone is required to file a tax return;
The correct filing status for a tax filer (e.g., married, head of household, etc.); and
Someone cannot be claimed as an exemption by more than one person.
What is Know?
500
What is the impact on COA when a recalculation of the Federal Pell Grant award is required by regulation?
What is COA changes must be taken into account as well.
500
This formula type excludes assets from the family's EFC.
What is Simplified?
500
What system provides information on the following:
Verifies student’s default and overpayment status
Informs school if fraudulently obtained Title IV funds have not been repaid
Ensures annual and aggregate award limits are not exceeded
Informs the school if the student subsequently becomes ineligible for Title IV
funds based on new data in NSLDS
Alerts school of student’s unusual enrollment history
What is NSLDS - National Student Loan Data System?
500
This school has the distinction of being the most Northern- most community college in NH.