Financial Aid and Loans Quiz

What does "Room and Board" refer to in a college setting?

• Housing

• Meals

• Campus

• Student housing and a meal plan

What is the purpose of "Extended Repayment"?

• Allows you to repay your loans over an extended period of time

• Provides interest-free loans

• Offers need-based financial aid

• Gives grants to low-income students

What does FAFSA stand for?

• Free Application for Federal Student Aid

• Federal Aid for Student Assistance

• Financial Aid for Students Application

• Federal Application for Student Aid

What type of loan is a "Federal Direct Subsidized Loan"?

• Loans available to undergraduate students with financial need

• Loans available to all students regardless of need

• Loans for graduate students only

• Loans that do not require repayment

What is a key feature of a "Federal Direct Unsubsidized Loan"?

• No requirement to demonstrate financial need

• Interest-free

• Only for undergraduate students

• Repayment starts after graduation

What is a unique feature of the "Federal Pell Grant" compared to loans?

• Does not have to be repaid

• Requires a co-signer

• Has a high interest rate

• Is only for graduate students

What does "PLUS" in "Federal PLUS Loan" stand for?

• Parent Loan for Undergraduate Students

• Professional Loan for University Students

• Private Loan for University Students

• Public Loan for Undergraduate Students

Who can benefit from a "Federal PLUS Loan"?

• Graduate or professional students and parents of dependent undergraduates

• Only undergraduate students

• Only low-income students

• Only international students

What is included in "Room and Board"?

• Housing and meals

• Tuition and fees

• Books and supplies

• Transportation and insurance

What is the main benefit of "Extended Repayment"?

• Longer repayment period

• Lower interest rates

• No need for a co-signer

• Immediate loan forgiveness