FAFSA
What does FAFSA stand for?
Free Application for Federal Student Aid
What is tuition?
Cost of Classes
What is interest?
The cost of borrowing money
What is the Pell Lifetime Eligibility Usage Limit ?
600%
When does FAFSA open each year?
October 1st
Name one indirect cost of college
Books, transportation, housing, food
What loan does not accrue interest while in school?
Subsidized
What can Pell Grant money be used for?
Tuition, fees, books, supplies, and other college-related expenses.
What can happen to your Pell Grant if you drop a class during the semester?
The amount of Pell Grant money you receive may be reduced, and you might have to return some of the funds.
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Who do you send an invite to on the FAFSA
Contributor
What does cost of attendance include?
Tuition, fees, housing, food, books, transportation
When do you start repaying most student loans?
6 months after graduation or unenrolling
What determines how much money a student gets from a Pell Grant?
The student’s financial need, cost of attendance, and enrollment status how many credits you are in.
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When do scholarship application windows usually open for colleges for the upcoming academic year?
Usually in the spring, about two semesters before the new academic year starts in August. FTCC window is open now ending March 31,2026
When filling out the FAFSA, how many tax years back do you report income information from?
Two years prior
What is the difference between tuition and total cost?
Tuition is just classes; total cost includes all expenses
What happens if you don’t repay your loans?
Default, damaged credit, collections
How often does a student need to apply for the Pell Grant?
Every year by submitting the FAFSA.
How can students find out how much money a college will cost them after financial aid?
By checking their award letter or financial aid package from the college.
How many schools can be added to the FAFSA application ?
20
What are some strategies students can use to reduce their total cost of attendance?
Students can apply for scholarships and grants, attend a community college first, live at home, buy used textbooks, or participate in work-study programs.
What factors should you consider before taking out a student loan?
You should consider how much you need to borrow, the interest rate, repayment terms, whether it’s subsidized or unsubsidized, and how it will affect your future financial situation.
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What is the highest level of degree a student can be working on and still be eligible for a Pell Grant?
A bachelor’s degree (students pursuing a first bachelor’s degree are eligible; those with a prior bachelor’s or higher are not).
What is one way students can reduce how much money they need to borrow for college
Apply for scholarships, grants, or work-study programs, or attend a less expensive school.