General
Info
Loans
Work-Study
and more
FAFSA
Grants
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7001
100
Name three types of
financial aid?
2
Loans, grants, and
scholarships
(also work-study and educational
savings plans)
3
200
Who should you contact
to talk about your
financial aid package?
4
The Financial Aid Office
at the school to which you
applied
5
300
What’s the difference
between a loan and a
grant?
6
Loans have to be repaid.
Grants are “free” money.
7
400
TRUE or FALSE:
Enrolling as a part-time
student will affect your
financial aid package.
8
TRUE
Your status as a full-time or
part-time student determines
your eligibility for aid.
Generally, more aid is
available for full-time
students.
9
500
Name three sources of
financial aid.
10
•The federal government
•The state government
•The school you plan on
attending
•Employers
•Banks
•Scholarship organizations
•Family
•Faith-based organizations
11
600
What is the “net price” of a
college?
12
The amount of money a family
must secure through loans, workstudy, or cash deposits to attend a
given school.
advertised cost of school
– grants, scholarships, & discounts
net price
13
700
Other than tuition, name 2
expenses associated with the
cost of college.
14
•Room & Board
•Textbooks
•Transportation
•Meals
15
100
TRUE or FALSE:
The FAFSA is free to
complete.
16
TRUE
You should not pay any fee to
complete the FAFSA. It is
FREE and free assistance is
available.
17
200
What is the earliest you can
complete the FAFSA for the
upcoming school year?
18
January
st
1
ex. For the 2012-2013 school year, you can
start the FAFSA on January 1, 2012.
19
300
What are the age requirements
for the FAFSA?
20
There are none.
The FAFSA is open to
students of any age.
21
400
How often should you
complete the FAFSA?
22
Every year you
plan on attending
school.
23
500
What does EFC stand
for?
24
Expected Family
Contribution
25
600
What is the best time to
complete your FAFSA?
26
The sooner, the
better.
You can fill it out as early as Jan.
1st but you will need your tax
information.
27
700
What two types of assets do
you NOT need to include in
your FAFSA?
28
Retirement and business
assets
29
100
TRUE or FALSE:
The federal government only gives
out loans to students.
30
FALSE
The Free Application for
Federal Student Aid
(FAFSA) can qualify BOTH
students and their parents
for loans to help pay for
college.
31
200
What is the name of the
federal loan given to parents
of college students?
32
The PLUS loan
33
300
What is the name of the
federal loan given to most
students?
34
The Stafford loan
Some students also qualify for a
Perkins loan.
35
400
What does it mean if you get a
loan that is “subsidized”?
36
The government will
pay the interest on your
loan while you are in
school.
37
500
When do you have to start
repaying your federal loans?
38
Six months after you have
completed school or stopped
enrolling.
39
600
What is the difference
between a federal loan
and a private loan?
40
Federal
Private
•serviced by the gov’t
•6-month grace period
•deferral & forgiveness
options
•different repayment
plans
•serviced by a bank
•may not have a grace
period
•may not have deferral
or forgiveness options
•may not have flexible
repayment options
41
700
Name one instance
when a loan payment
can be deferred?
42
•Enrollment in school
•Economic hardship
•Unemployment
•Military Service
43
100
How do you qualify
for work-study?
44
Check the work-study
option when you file
the FAFSA.
(Your FAFSA information will
determine your eligibility for workstudy.)
45
200
How do I find a
work-study job?
46
The Financial Aid Office
at your college can tell you where to find
work-study job listings both on and off
campus.
47
300
When do I get the
money I earn through
work-study?
48
Work-study money is
given in the form of a
paycheck.
Depending on your job, you may get
a weekly, bi-weekly, or monthly
check.
49
400
Is there a limit to the
amount of money you
can earn through a
work-study job?
50
Yes
The amount of work-study
money you can earn per year
is determined by your
FAFSA and shown on your
Student Aid Report.
51
500
TRUE or FALSE:
Individual colleges
offer their own grants
and scholarships
52
TRUE!
Financial aid is
available from
colleges themselves as
well as the federal and
state government.
53
600
What is the difference
between financial aid
given by colleges and aid
given by the government?
54
Aid from Colleges Aid from Gov’t
•Contingent on your •Not linked to a
enrollment to that particular school
particular school
•May take more
•Determined by
factors into
FAFSA/PHEAA
consideration than
just the FAFSA
55
700
How do I qualify for
financial aid from
individual colleges?
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1. Complete the
FAFSA
2. Meet all schoolbased deadlines
(which tend to be much earlier
than FAFSA deadlines)
57
100
TRUE or FALSE:
Grants are “free”
money and do not need
to be repaid.
58
TRUE
59
200
What is a Pell
grant?
60
A Pell grant is a
grant given by the
federal government
for post-secondary
education.
61
300
What factors
determine if you
get a grant?
62
•
Financial Need
(determined by your FAFSA)
•
Timeliness
(grant money is given on a
“first come-first serve” basis. The earlier
you complete your FAFSA, the better)
63
400
Other than the federal
government, who else
gives out grants for
college?
64
The state of
Pennsylvania
65
500
How do you get
a state grant?
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1. Complete the FAFSA.
2. Complete the state
grant form. In
Pennsylvania, it is
called the PHEAA.
(Pennsylvania Higher Education
Assistance Agency)
67
600
Do I have to be a
resident of Pennsylvania
to get a Pennsylvania
state grant?
68
Yes.
For more details about
state grant eligibility,
visit www.pheaa.org
69
700
Where can I find
the PHEAA
application?
70
When you complete the FAFSA, there
will be a link to the PHEAA
application on the confirmation page.
*Remember to download the signature
page, sign it, and mail it in!
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