#1
What is the FAFSA?
Free Application for Federal Student Aid
ExplanationApplication for federal student aid.
#2
What is a merit-based scholarship?
A scholarship based on academic achievement or other accomplishments
ExplanationScholarship awarded for academic or other achievements.
#3
What is the purpose of the Federal Work-Study program?
To provide part-time jobs for students with financial need
ExplanationProvide part-time jobs for financially needy students.
#4
What is the purpose of the College Board's CSS Profile?
To assess financial need for non-federal financial aid
ExplanationAssess financial need for non-federal aid.
#5
What is the primary purpose of the Federal Pell Grant?
To provide grants for undergraduate students with financial need
ExplanationProvide grants for financially needy undergraduates.
#6
What is the maximum income limit for eligibility for Pell Grants in the US?
There is no income limit
ExplanationNo income limit for Pell Grant eligibility.
#7
What is the purpose of the CSS Profile?
To apply for institutional financial aid
ExplanationApplication for institutional financial aid.
#8
What is the difference between a grant and a scholarship?
Grants do not need to be repaid, while scholarships do
ExplanationGrants are non-repayable; scholarships need repayment.
#9
What is an EFC (Expected Family Contribution)?
An estimate of the family's ability to contribute to college expenses
ExplanationEstimate of family's ability to pay for college.
#10
What is the primary difference between a subsidized and an unsubsidized loan?
The government pays the interest on subsidized loans while the student is in school
ExplanationGovernment pays interest on subsidized loans while in school.
#11
What is the difference between subsidized and unsubsidized student loans?
Subsidized loans require financial need, while unsubsidized loans do not
ExplanationSubsidized loans based on financial need; unsubsidized not.
#12
What is the purpose of a need-blind admission policy?
To admit students regardless of their financial need
ExplanationAdmit students regardless of financial need.
#13
What is the difference between a tuition waiver and a tuition reimbursement?
Tuition waivers exempt students from paying tuition, while tuition reimbursements reimburse students for tuition expenses already paid
ExplanationWaivers exempt tuition; reimbursements refund already paid tuition.
#14
What is the primary benefit of a 529 savings plan for education?
Tax-free withdrawals for qualified education expenses
ExplanationTax-free withdrawals for educational expenses.
#15
What is the primary advantage of private student loans compared to federal loans?
Higher borrowing limits
ExplanationPrivate loans offer higher borrowing limits.