Quizzes

Financial Aid IQ Test

Financial aid is a must for most students who want to attend postsecondary education. But do students usually know what they’re getting into? Take this quiz to check your financial aid knowledge.

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1. Can Student Loans help you pay for your Off-Campus Housing? Remember that you have to pay them back after college. It would be a bad idea to squander that money on expenses that aren’t essential, thus making it so you’re paying back for items and expenses that you didn’t need in the first place.




2. When is the deadline for applying for financial aid?




3. What does “Cost of Attendance” mean? This can be calculated per one school year or for all four years of college.




4. What does "FAFSA" stand for? The FAFSA helps determine college students’ eligibility for financial aid each year. The application factors in family size, income and assets before figuring out how much financial aid you should be awarded. Any student in the country can apply for financial aid.




5. How many times do I need to apply for financial aid?




6. Whose information should I include if my parents are divorced?




7. Do you need to be a U.S. citizen to receive financial aid?




8. Does your parents’ income affect how much you can borrow?




9. How much does the FAFSA form cost, no matter whether you fill out a paper form or an online form?




10. What’s the difference between private and public colleges? One of these receives funding from the state and federal governments. As a result, they are often less expensive for students, especially in-state students.




11. What is a Subsidized Stafford Loan?




12. True or false, you can apply for financial aid no matter how much money your parents make.


13. Which loan works more in favor of the student?


14. What comes first?


15. Grants are somewhat different, since you don’t need to repay the grant money you receive. Are grants considered financial aid?


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