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