FASFA BASICS
What does FAFSA stand for?
Free Application for Federal Student Aid
Do scholarships have to be paid back?
No
Do student loans need to be repaid?
Yes
What is work-study?
A program that allows students to work part-time to earn money
Do grants need to be repaid?
No
When should you fill out the FAFSA?
As early as possible after it opens
Name one place you can find scholarships.
School website / online databases / organizations
What is interest on a loan?
The extra money you pay back in addition to what you borrowed
Where do most work-study jobs take place?
On campus (or approved off-campus sites)
What is a common factor used to determine grant eligibility?
Financial need
Do you have to complete the FAFSA every year?
Yes
What is something commonly required to apply for scholarships?
Essay / GPA / recommendation letter
What is the difference between subsidized and unsubsidized loans?
Subsidized = government pays interest while in school; Unsubsidized = you do
How do you qualify for work-study?
Through FAFSA based on financial need
Name a well-known federal grant for college students.
Pell Grant