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