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Financial Aid Basics (1)
Grants & Scholarships
FAFSA (2)
Student Loans (4)
Additional FA questions
100

What does the FAFSA stand for?

What is the Free Application for Federal Student Aid?

100

These are the 3 forms/types of financial aid.

What is Grants/Scholarships, Loans and Workstudy

100
This is the earliest students can complete the FAFSA every year
What is October 1st
100
A postponement of a loan payment
What is Deferment
100

True or False: If my parents make too much money, I won’t get any financial aid.

False.

200

When does the FAFSA typically open each year?

October 1st

200
The amount of credits a student must be enrolled in to be considered full time financial aid eligible?
What is 12 semester credits?
200
These types of students must submit financial information for their parents on the FAFSA
What are dependent students?
200
The type of federal direct loan in which the government pays the interest on while the student is still in school
What is a Subsidized loan
200

What is verification in the Financial Aid process?

A review process to confirm FAFSA information is accurate

300

Which IRS tool can be used to import tax info into the FAFSA? 

What is the IRS Data Retrieval Tool (DRT)

300

What is the maximum number of lifetime Pell Grant eligibility percentage?

What is 600%?

300

What does SAI stand for?

What is Student Aid Index?

300
The type of loan in which interest accrues while the student is in school.
What is Unsubsidized loan
300

Who selects students for verification?

The Department of Education (ED)

400

What is the current maximum amount a student can receive for Pell Grant? 

What is $7,395

400

True or False: A student can receive Pell Grant for graduate school.

FALSE

400

What does R2T4 refer to in Financial Aid?

Return to Title IV

400

Name one loan type parents can take out for their undergraduate student.

PLUS Loan

400

Name one document commonly requested for verification.

Tax return transcript, W-2, verification worksheet, etc.

500

Name two types of income reported on the FAFSA.

What is AGI and Income Tax Paid?

500

This is an institutional award for students to demonstrate additional financial need and can provide $100-$4,000 in additional funds

What is the Federal Supplemental Educational Opportunity Grant (SEOG)

500

True or False. FAFSA affects my credit score.

False

500

What’s the standard repayment term for federal student loans?

10 years

500

True or False: I only need to submit the FAFSA once during my entire college career.

False