Test your financial aid knowledge!

Which answer is not one of the 6 types of funding sources?

work-study

gambling

military

grants

all of the above

Why are grants and scholarships considered to be "free money"?

do not have to be paid back

government does not tax them

you do not have to pay interest on them

they are for the purchase of text books only

Which type of federal loan does the government pay the interest on while the student is enrolled at least half-time?

Pell grant

Federal Direct Plus

Direct subsidized

What is a FASFA?

A furry dorm pet

Freedom Among Students Forming Associations

Free Application for Student Financial Aid

Fly Among the Stars Far Above

What is the grace period for student loan repayment?

3years

120 days

none

6 months

What professions qualify for Public Service Loan Forgiveness?

Librarians

Lawyers

teachers

all of the above

When should you apply for private student loans?

ASAP

Never

After all federal financial aid has been exhausted

How long does the Standard repayment plan take to repay your student loans

25 years

15 years

20 years

10 years

What website(s) can you visit to learn more about financial aid?

youoweunclesam.gov

studentaid.gov

nowweownyou.gov

FASFA.gov

B&D

You may have to pay income tax on forgiven student loans.

true

false

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