Strategies for $uccess Knowledge Test

How often do you need to apply for Financial Aid?

Only your first year.

Every year, for both your federal and institutional funds.

Your first year for federal funds, but every year for institutional funds.

How long is the period of time, called the grace period, between graduation (or falling below half-time enrollment status) and the start of loan repayment for Federal Direct Loans? It is after this period that the interest on your loans will capitalize.

Six months.

Nine months.

One year.

Eighteen months.

What website can you find the MedLoan calculator, as well as many other helpful resources? (Hint: all of these websites are helpful, but the calculator can only be found on one).

studentloans.gov

studentaid.ed.gov

aamc.org/first

saltmoney.org

How can I return some or all of my federal student loans?

Indicate it on your Financial Aid Notice or notify the Office of Financial Aid in writing.

Tell the Office of Financial Aid over the phone.

Have my parents take care of it for me.

What is the length of time a loan borrower has to return his or her loan funds to the Office of Financial Aid after the date of disbursement so that no origination fee will have been charged or interest accrued?

60 days.

90 days.

120 days.

What are the different types of federal aid available for medical students?

Unsubsidized Federal Direct Loan

Graduate PLUS Loan

Federal Work-Study

All of the above

True or false: Student loan eligibility differs depending on full-time status, leave of absence, or participation in the Research Concentration Program.

True.

False.

What are the 2017-2018 Federal Loan Interest rates for the Direct Unsubsidized Loan and Grad PLUS Loan?

4% & 5%

6% & 7%

9.5% &10.5%

What should you do if you receive an outside scholarship?

Nothing. The check will be sent directly to my account.

Notify the Financial Aid Office. There may need to be adjustments made to your account/loans in order to ensure you are within your allowable cost of attendance for the aid year.

What is the name of the TUSM Financial Literacy Program?

The Keys to $uccess

Strategies for $uccess

Planning for $uccess