Paying For College (PFC) Quiz

What is a letter that outlines your financial aid package from the college(s) to which you applied, detailing your federal, state, institutional and private aid?

• Award Letter

• Cost Of Attendance

• Direct Plus Loans

• Direct Subsidized Loan

What is a federal loan available to graduate or professional students and eligible parents of dependent undergraduate students to help pay for the cost of the student's education at participating schools?

• Federal Student Aid

• Direct Plus Loans

• Direct Subsidized Loan

• Direct Unsubsidized Loan

What is a student loan that the federal government pays interest on as long as the student is in school at least half-time?

• Direct Plus Loans

• Direct Subsidized Loan

• Direct Unsubsidized Loan

• Expected Family Contribution (EFC)

What is a student loan where the student is responsible for the interest during the time they are in school, which means they must pay that interest while studying or have it rolled into their loan?

• Loan Servicer

• Net Price

• Pell Grant

• Direct Unsubsidized Loan

What is a measure, appearing on your Student Aid Report, of your family's financial strength and how much the college expects your family to cover of your?

• Principal

• Promissory Note

• Interest Rate

• Expected Family Contribution (EFC)

What is a form prepared annually by current or prospective college students to determine their eligibility for financial aid?

• Grants

• Free Application For Federal Student Aid (FAFSA)

• Interest Rate

• Loan Servicer

What is student aid coming from the state or federal government, the college itself, or from private sources that does not need to be repaid?

• Pell Grant

• Principal

• Promissory Note

• Grants

What is the largest form of student aid in the country, federal aid programs come in the form of government grants, loans, and work-study opportunities?

• Pell Grant

• Principal

• Promissory Note

• Federal Student Aid

What is the actual expenses that a student pays in order to attend college, which is calculated as the sticker price of a college minus the financial aid received?

• Net Price

• Pell Grant

• Principal

• Promissory Note

What is a contract signed by the student agreeing to pay back all student loan obligations?

• Net Price

• Pell Grant

• Promissory Note

• Principal