Types of Financial Aid
Getting Started
Free Money
Money You Need to Pay Back
Miscellaneous
100

This type of aid is rewarded based on special ability, academic achievement, or another special interest area. You do not have to pay back this type of aid.

What is a scholarship?

100

You must complete and submit this to apply for federal student aid for college (and most state/institutional aid as well). You must reappy every year.

What is the Free Application for Federal Student Aid (FAFSA)?

100

This is the limit to the number of scholarships you can receive.

What is no limit?

100

This is the cost of borrowing, whether it is money for college or any other loan.

What is interest?

100

According to research, how long does it typically take for students to complete a scholarship application?

What is 3 hours?

200

This type of aid is borrowed from a financial institution or the federal government. You MUST repay this type of aid.

What is a Loan?

200

You must apply for this before beginning the FAFSA process. It will allow you to sign your FAFSA electronically and correct your information online.

What is the FSA ID?

200

Transcripts, References, Essays, & Records of activities and accomplishments are often included in this

What is needed for most scholarship applications?

200

This is money that your parents can borrow to help pay your education expenses. 

What is a PLUS Loan?

200

This is a type of scholarship you can receive based on your hobbies 

What are special interest/skills scholarships?

300

This type of aid is typically awarded based on need. You do not have to repay this type of aid.

What is a Grant?

300

Your social security number (and your parents if you provide parent info), Tax information/tax returns Records of any untaxed income, and email address are things need for this

What is information needed to file the FAFSA?

300

This is the maximum amount of money given for a Pell Grant.

What is $6,495?

300

This type of loan should only be borrowed if you have exhausted all federal loan eligibility. This could be provided by a bank, savings and loan, or credit union.

What is a private loan?

300

This is the percentage of students that receive only 50% of their cost of attendance covered  

What is 19%?

400

This program gives you the opportunity to earn money for school and gain valuable work experience. It offers part-time jobs both on and off-campus. You do not repay this because you are trading work for financial aid.

What is the Federal Work Study Program?

400

Your college's Cost of Attendance includes personal expenses, books & supplies, tuition & fees, and also this

What is transportation?

400

These type of grants are ones that funds could run out.

What are Federal Supplemental Educational Opportunity Grants (FSEOG) and/or state grants?

400

With this federally sponsored loan, the government pays the interest while you are in school.

What are subsidized Federal Stafford loans?

400

The typical amount of time after graduating before you have to start paying back student loans.

What is 6 or 9 months?

500

This is a measure of your family's financial strength. It is calculated by a formula established by law. The information you provide on the FAFSA is used to calculate this. It is not the amount of money that your family has to pay. It is simply used to determine the amount of federal student aid you are eligible to receive.

What is the Expected Family Contribution?

500

This is the date that you can file the FAFSA, and you should do so as soon as you can on or after this date.

What is October 1st?

500

It might say... "This scholarship is guaranteed." "The scholarship will cost some money up front." "We just need your credit card number or bank account number to hold this scholarship." "You're a finalist" in a contest you never entered.

What is a scholarship scam?

500

This is the current interest rate for Subsidized Loans and Unsubsidized Loans.

What 4.99%?

500

BONUS QUESTION!!! These are 3 things you will do now to prepare financially for college.

What is...answers will vary

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