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Financial Aid Test
  • 1. Which of following is typically the largest expense at most colleges?
A) Housing
B) Food
C) Tuition
D) Books
  • 2. What percentage of full-time undergraduate students receive some type of Financial Aid?
A) 60 Percent
B) 40 Percent
C) 50 Percent
D) 70 Percent
  • 3. Which type of Financial Aid may be awarded for accomplishments such as academic achievement or athletic performance?
A) Loans
B) Grants
C) Work-Study
D) Scholarships
  • 4. From which source does the majority of Financial Aid funding come?
A) Individual Colleges
B) Federal Government
C) State Government
D) Private Organizations
  • 5. Which type of expense is the first to be covered by Financial Aid?
A) Books and Supplies
B) Tuition and Fees
C) General Living Expenses
D) Room and Board
  • 6. Which website does the presentation recommend using to fill out and submit the FAFSA?
A) www.fafsa.ed.gov
B) www.fafsa.com
C) www.fafsa.org
D) www.fiancialaid.org
  • 7. Who should NOT apply for Financial Aid?
A) Students who will attend Community College
B) Students whose annual family income is over $100,000
C) All students should apply for Financial Aid
D) Students who will attend part-time
  • 8. The FAFSA and PROFILE are used to award which type of aid?
A) All Merit-Based Aid
B) Self-Help Aid only
C) Gift Aid Only
D) All Need-Based Aid
  • 9. According to the presentation, when should students complete and submit the FAFSA for the first time?
A) Soon after January 1 of their Senior year in High School
B) Soon after enrolling in a Higher Learning institution
C) Soon after their 17th Birthday
D) Soon after High School Graduation
  • 10. Which of the following occurs after your FAFSA has been processed?
A) You will receive your Aid within Six Weeks
B) You will receive a FAFSA2 allowing you to finish the process
C) You will receive a Student Aid Report identifying your EFC
D) You will receive a visit from a Financial Aid Advisor
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