FINANCIAL AID 101 WHAT EVERY SENIOR SHOULD KNOW ABOUT APPLYING FOR FINANCIAL AID.

FINANCIAL AID 101

WHAT EVERY SENIOR SHOULD KNOW ABOUT APPLYING FOR

FINANCIAL AID

Why is this important?

Many students who could go to college or career school don’t because they didn’t apply for financial aid.

Many students don’t apply for financial aid because they didn’t know they should.

Most students who apply receive some form of financial aid.

EVERY SENIOR SHOULD COMPLETE THE FAFSA (OR DREAM ACT APPLICATION)

How much do you already know?

Average score was 13/20

More than half the senior class scored below 70%

WHAT IS FINANCIAL AID?

A. MONEY TO HELP PAY FOR COLLEGE OR CAREER TRAINING

B. MONEY TO HELP PAY FOR COMMUNITY COLLEGE

C. LOANS, GRANTS, SCHOLARSHIPS, WORK STUDY

D. ALL OF THE ABOVE

WHAT IS THE FORM YOU MUST FILL OUT TO APPLY FOR FINANCIAL AID?

A. GOVERNMENT COLLEGE AID FORM (GCAF)

B. FEDERAL STUDENT LOAN APPLICATION (FSLA)

C. FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

D. ALL OF THE ABOVE

HOW MUCH DOES IT COST TO COMPLETE THE FAFSA?

A. IT IS CHARGED ON A SLIDING SCALE-COSTS LESS, IF YOU MAKE LESS.

B. IT’S FREE.

C. $76. IF YOU APPLY BEFORE MARCH 2.

D. NONE OF THE ABOVE.

WHERE CAN YOU GET THE APPLICATION FOR FINANCIAL AID?

A. ONLINE AT WWW.FAFSA.COM

B. ASK YOUR COUNSELOR FOR A PAPER APPLICATION

C. WWW.FAFSA.GOV

D. ALL OF THE ABOVE

WHEN IS THE DEADLINE TO COMPLETE THE FAFSA?

A. MARCH 2 TO BE ELIGIBLE FOR CAL GRANTS AND MOST OTHER FORMS OF AID

B. SEPTEMBER 2

C. JANUARY 1

D. THERE IS NO DEADLINE

MANY STUDENTS MAY NEED TO TAKE OUT LOANS TO HELP PAY FOR SCHOOL. WHICH LOAN IS THE “GOOD” LOAN?

A. FEDERAL LOAN--IT HAS LOWER INTEREST RATES.

B. A PRIVATE LOAN--THEY ARE EASIER TO GET.

C. BOTH LOANS ARE GOOD--THEY BOTH HAVE LOW INTEREST RATES.

D. NEITHER, THERE IS NO SUCH THING AS A GOOD LOAN.

WHO IS ELIGIBLE FOR FINANCIAL AID?

A. ONLY HIGH SCHOOL GRADUATES WITH GOOD GRADES.

B. ONLY HIGH SCHOOL GRADUATES WITH LOW INCOME.

C. ONLY STUDENTS WHO ARE U.S. CITIZENS.

D. ONLY STUDENTS WHO ARE GOING TO A 4-YEAR COLLEGE.

E. NONE OF THE ABOVE

WHAT IS A SAR?

A. STUDENT AID REPORT--A SUMMARY OF THE FINANCIAL INFORMATION YOU SUBMITTED ON YOUR FAFSA.

B. SUPER ACADEMIC REWARD--A REWARD YOU GET FROM THE GOVERNMENT FOR SUBMITTING YOUR FAFSA.

C. THE STAMP OF APPROVAL YOU RECEIVE AFTER SUBMITTING YOUR FAFSA.

D. NONE OF THE ABOVE

WHAT IS AN EFC (EXPECTED FAMILY CONTRIBUTION)?

A. THE AMOUNT OF MONEY YOUR FAMILY IS EXPECTED TO CONTRIBUTE TO THE COST OF YOUR EDUCATION.

B. IT IS NOT A DOLLAR AMOUNT--IT IS THE INDEX NUMBER COLLEGES USE TO DETERMINE HOW MUCH AID YOUR FAMILY IS ELIGIBLE TO RECEIVE.

C. THE AMOUNT OF MONEY YOUR FAMILY MUST CONTRIBUTE TO THE SCHOOL YOU CHOOSE TO ATTEND.

D. NONE OF THE ABOVE.

IF YOUR PARENTS ARE DIVORCED, WHOSE INFORMATION SHOULD YOU REPORT ON YOUR FINANCIAL AID APPLICATION?

A. BOTH PARENTS

B. THE PARENT WITH WHOM YOU LIVE WITH THE MOST, OR WHO PROVIDES THE MOST SUPPORT (PLUS STEP PARENT)

C. THE PARENT WHO CLAIMS YOU ON THEIR INCOME TAXES

D. NEITHER, PARENT FINANCIAL INFORMATION IS OPTIONAL

WHICH OF THE FOLLOWING TYPES OF FINANCIAL AID MUST BE PAID BACK?

A. LOANS

B. GRANTS

C. SCHOLARSHIPS

D. WORK STUDY

E. ALL OF THE ABOVE

WHICH OF THE FOLL0WING IS REQUIRED TO BE

ELIGIBLE FOR MOST FEDERAL OR STATE AID?

A. SUBMIT THE FAFSA OR DREAM ACT APP

B. BE A U.S. CITIZEN, PERMANENT RESIDENT, OR QUALIFY FOR THE DREAM ACT

C. HAVE A HIGH SCHOOL DIPLOMA

D. REGISTER WITH THE SELECTIVE SERVICE (IF YOU ARE MALE)

E. ALL OF THE ABOVE

AN AB 540 STUDENT IS A STUDENT WHO…

A. IS UNDOCUMENTED BUT HAS ATTENDED HIGH SCHOOL IN THE U.S. FOR AT LEAST 3 YEARS

B. HAS BEEN ABSENT MORE THAN 540 HOURS

C. EXCEEDS THE RECOMMENDED WEIGHT LIMIT FOR HEALTHY TEENAGERS

D. IS IDENTIFIED AS HOMELESS

THE MOST IMPORTANT THING TO REMEMBER ABOUT YOUR PIN (PERSONAL IDENTIFICATION NUMBER) IS…

A. YOU NEED ONE IN ORDER TO ELECTRONICALLY SIGN THE FAFSA.

B. YOU MUST APPLY FOR ONE BEFORE YOU COMPLETE THE FAFSA.

C. YOU MUST APPLY FOR A NEW ONE EVERY YEAR.

D. THEY ARE OPTIONAL, BUT RECOMMENDED.

TRUE OR FALSE

IF YOUR PARENTS MAKE A LOT OF MONEY, YOU WILL NOT QUALIFY FOR FINANCIAL AID.

FALSE

TRUE OR FALSE

IF YOU DO NOT HAVE A SOCIAL SECURITY NUMBER, YOU SHOULD NOT COMPETE A FINANCIAL AID APPLICATION.

FALSE

TRUE OR FALSE

YOU SHOULD COMPLETE YOUR FINANCIAL AID APPLICATION EARLY, EVEN IF YOUR PARENTS HAVE NOT FILED TAXES YET.

TRUE

TRUE OR FALSE

IT IS NOT NECESSARY TO COMPLETE A FINANCIAL AID APPLICATION IF YOU PLAN TO GO TO A COMMUNITY COLLEGE.

FALSE

TRUE OR FALSE

IF YOU LIVE WITH YOUR GRANDPARENTS OR A GUARDIAN, THEN YOU NEED TO INCLUDE THEIR INCOME INFORMATION ON YOUR APPLICATION.

FALSE

TRUE OR FALSE

IN ORDER TO AVOID ERRORS ON YOUR FINANCIAL AID APPLICATION, IT IS BEST TO PAY AN EXPERT TO HELP YOU.

FALSE

REMINDERS

NEXT CASH FOR COLLEGE WORKSHOP

MONDAY, FEB 10 @ 5:30 PM

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