Understanding Financial Aid for College Quiz Test your knowledge on federal student aid, grants, loans, and more with our comprehensive quiz on college financial aid. Get ready for better understanding and planning!
#1
Department of Education
Department of Treasury
Department of Labor
Department of Defense
#2
Applying for college admission
Applying for federal student loans and grants
Applying for scholarships
Applying for work-study programs
#3
$50,000
$75,000
$100,000
$125,000
#4
#5
Subsidized loans have lower interest rates
Unsubsidized loans accrue interest while in school
Subsidized loans require a higher credit score
Unsubsidized loans are need-based
#6
Tuition and fees only
Books and supplies only
Total estimated cost including tuition, fees, and living expenses
Cost of attending extracurricular activities
#7
Grants are need-based, while scholarships are merit-based
Grants are only for graduate students, while scholarships are for undergraduates
Grants require repayment, while scholarships do not
Grants are awarded by private organizations, while scholarships are government-funded
#8
The total cost of attendance for a college
The amount a family is expected to contribute towards college costs
The maximum amount a student can borrow in federal loans
The interest rate on private student loans
#9
$23,000
$31,000
$40,500
$57,500
#10
To provide grants to low-income students
To assist with college application fees
To help parents of dependent students cover educational expenses
To offer scholarships for high-achieving students
#11
When applying for federal student loans
When selected by the college's financial aid office
When receiving a merit-based scholarship
When transferring to a different college
#12
It measures students' physical fitness for eligibility
It evaluates students' academic performance to maintain aid eligibility
It assesses students' social skills for campus integration
It determines students' commitment to extracurricular activities
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