#1
Which of the following documents is typically required for a financial aid application?
Tax return
ExplanationVerification of financial status.
#2
What does FAFSA stand for?
Federal Application for Free Student Aid
ExplanationGovernment form for student aid.
#3
Which of the following factors may affect eligibility for financial aid?
Academic performance
ExplanationScholastic achievements.
#4
What is the deadline for submitting the FAFSA form for the upcoming academic year in the United States?
October 1
ExplanationKey date for form submission.
#5
What is the CSS Profile used for in the financial aid application process?
To apply for institutional aid
ExplanationApplication for college-specific aid.
#6
Which of the following is NOT a common type of financial aid?
Credit cards
ExplanationNot typical aid method.
#7
What is the primary purpose of the CSS Profile?
To apply for scholarships and institutional aid
ExplanationForm for specific financial aid.
#8
What does SAR stand for in the context of financial aid?
Student Aid Report
ExplanationDocument summarizing aid eligibility.
#9
What is the primary difference between subsidized and unsubsidized student loans?
Interest accrual
ExplanationInterest payment responsibility.
#10
Which federal agency oversees the distribution of financial aid to students in the United States?
Department of Education
ExplanationGovernment body responsible for student aid.
#11
What is the Expected Family Contribution (EFC) in the context of financial aid?
The maximum amount a family can contribute to their child's education
ExplanationFamily's financial responsibility.
#12
What is the primary purpose of a financial aid appeal?
To increase financial aid
ExplanationRequest for additional aid.
#13
Which of the following is an example of merit-based financial aid?
Academic Scholarship
ExplanationAward based on academic achievement.
#14
What is the primary purpose of the Federal Work-Study program?
To offer part-time employment to students
ExplanationCombination of work and study.
#15
Which of the following is a disadvantage of student loans?
Potential debt accumulation
ExplanationAccrued financial liability.
#16
What is the primary criterion for eligibility for need-based financial aid?
Income level
ExplanationFinancial status determinant.