Financial Aid Test
  • 1. Which of following is typically the largest expense at most colleges?
A) Tuition
B) Housing
C) Books
D) Food
  • 2. What percentage of full-time undergraduate students receive some type of Financial Aid?
A) 40 Percent
B) 70 Percent
C) 60 Percent
D) 50 Percent
  • 3. Which type of Financial Aid may be awarded for accomplishments such as academic achievement or athletic performance?
A) Scholarships
B) Work-Study
C) Grants
D) Loans
  • 4. From which source does the majority of Financial Aid funding come?
A) State Government
B) Private Organizations
C) Individual Colleges
D) Federal Government
  • 5. Which type of expense is the first to be covered by Financial Aid?
A) Books and Supplies
B) General Living Expenses
C) Room and Board
D) Tuition and Fees
  • 6. Which website does the presentation recommend using to fill out and submit the FAFSA?
  • 7. Who should NOT apply for Financial Aid?
A) Students who will attend Community College
B) All students should apply for Financial Aid
C) Students whose annual family income is over $100,000
D) Students who will attend part-time
  • 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 enrolling in a Higher Learning institution
B) Soon after January 1 of their Senior year in High School
C) Soon after High School Graduation
D) Soon after their 17th Birthday
  • 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 visit from a Financial Aid Advisor
D) You will receive a Student Aid Report identifying your EFC
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