Documents Required for Financial Aid Application
This quiz assesses your knowledge about the documents required for financial aid application.
Questions
Which of the following documents is required for financial aid application?
- Social Security Number
- Driver's License
- Birth Certificate
- All of the above
What is the purpose of the Free Application for Federal Student Aid (FAFSA)?
- To apply for federal student loans
- To apply for federal grants
- To apply for federal work-study
- All of the above
What is the deadline for submitting the FAFSA?
- February 15
- March 15
- April 15
- June 30
What information is required on the FAFSA?
- Student's Social Security Number
- Student's driver's license number
- Student's birth certificate
- All of the above
What is the Expected Family Contribution (EFC)?
- The amount of money a student's family is expected to contribute towards the cost of education
- The amount of money a student is expected to contribute towards the cost of education
- The amount of money the government is expected to contribute towards the cost of education
- None of the above
What is the difference between a grant and a loan?
- A grant does not have to be repaid, while a loan does
- A grant is only available to students with financial need, while a loan is available to all students
- A grant is a fixed amount of money, while a loan can be any amount
- All of the above
What is the difference between a subsidized and an unsubsidized loan?
- Subsidized loans have a lower interest rate than unsubsidized loans
- Subsidized loans are only available to students with financial need, while unsubsidized loans are available to all students
- Subsidized loans do not have to be repaid until after graduation, while unsubsidized loans must be repaid while the student is in school
- None of the above
What is the maximum amount of money a student can borrow in federal student loans?
- $10,000
- $20,000
- $30,000
- $40,000
What is the repayment period for federal student loans?
- 10 years
- 15 years
- 20 years
- 25 years
What are the consequences of defaulting on a federal student loan?
- Wage garnishment
- Tax refund garnishment
- Loss of eligibility for federal student aid
- All of the above
What is the best way to avoid defaulting on a federal student loan?
- Make payments on time
- Contact your loan servicer if you are having trouble making payments
- Apply for a deferment or forbearance if you are unable to make payments
- All of the above
What is the Public Service Loan Forgiveness Program?
- A program that forgives the remaining balance of a federal student loan after 10 years of public service
- A program that forgives the remaining balance of a federal student loan after 15 years of public service
- A program that forgives the remaining balance of a federal student loan after 20 years of public service
- None of the above
What are the requirements for the Public Service Loan Forgiveness Program?
- Must be employed by a government or non-profit organization
- Must have made 120 qualifying payments on your federal student loans
- Must be in repayment for at least 10 years
- All of the above
What is the TEACH Grant Program?
- A program that provides grants to students who agree to teach in high-need schools
- A program that provides grants to students who agree to teach in low-income schools
- A program that provides grants to students who agree to teach in rural schools
- All of the above
What are the requirements for the TEACH Grant Program?
- Must be a U.S. citizen or national
- Must be enrolled in a teacher preparation program
- Must agree to teach in a high-need school for at least four years
- All of the above