Paying for College

Vocabulary

100

This type of financial aid is usually need-based and does not have to be paid back.

Grant

200

This type of financial aid is usually need-based where students find a job on campus to help them pay for college.

Work-Study

300

For this state specific scholarship, your family must make under $80,000/year and you must be enrolled in a public or tribal college in Minnesota (in addition to other eligibility factors) for you to qualify for this scholarship.

North Star Promise

400

This is the largest federal grant program administered by the government.

Pell Grant

500

This type of federal student loan does not accrue interest while the student is enrolled at least half-time in college.

Subsidized Loan

Financial Aid Applications

100

This is what FAFSA stands for.

Free Application for Federal Student Aid

200

Name another financial aid application, other than the FAFSA.

Minnesota Dream Act, CSS Profile, Scholarship Applications

300

True or False? I must have applied to a college to list it on my FAFSA.

False

400

For FAFSA, generally speaking (with all other independent factors not met), how old do you have to be in order to be considered a independent student who no longer needs parent information on the FAFSA?

24+

500

I can only include up to this many schools on my FAFSA.

20

Calculating Costs

100

How much federal loans was Lily offered for Fall 2026?

$2,750

200

What is Lily's total amount of grants for the academic year?

$18,630

300

If Lily decides not to borrow loans or pursue work study, what is her final direct cost (billable cost) for the entire year?

$14,870

400

If Lily decides not to borrow loans, what is her final direct cost (billable cost) for only Fall semester?

$7,435

500

Lily received an outside scholarship of $4,000 for the year. She will also borrow her subsidized loan and pursue work study. What is her final direct cost for Fall 2026?

$1,685

Increased or Decreased Financial Aid

100

If Lily drops to taking 14 credits, will her financial aid most likely increase or decrease?

Decrease

200

If Lily decides to live off-campus, will her financial aid most likely increase or decrease?

Decrease

300

If Lily's final high school GPA increased dramatically at the end of the year and she resubmits her transcript to the Admissions Office, will her financial aid most likely increase or decrease?

Increase

400

If Lily receives a better offer from a similar school and submits a competitive appeal, will her financial aid most likely increase or decrease?

Depends on the school, but most likely increase.

500

If Lily's parents made less money in 2025 and complete a Special Circumstance request for the college, will her financial aid most likely increase or decrease?

Increase