CEP Financial Aid and Scholarships 1

Question 1

What is the primary purpose of the FAFSA?

Accepted Answer

To calculate federal financial aid eligibility

Answer

To apply for college admission.

Answer

To determine course prerequisites.

Answer

To apply for campus housing.

Question 2

What is a merit-based scholarship?

Accepted Answer

Based on achievements and talents

Answer

Based on financial need only.

Answer

Randomly assigned to applicants.

Answer

Given after the first year only.

Question 3

What does the Expected Family Contribution (EFC) indicate?

Accepted Answer

How much the family is expected to pay

Answer

Tuition for one semester.

Answer

Student’s GPA requirement.

Answer

Loan repayment period.

Question 4

Why is it important to meet financial aid deadlines?

Accepted Answer

To ensure full consideration for financial aid

Answer

To get early registration for classes.

Answer

To avoid delays in graduation.

Answer

To secure on-campus jobs only.

Question 5

What is a Pell Grant?

Accepted Answer

A federal grant for low-income students

Answer

A type of student loan.

Answer

A merit-based award.

Answer

An internship program.

Question 6

What type of aid must be repaid with interest?

Accepted Answer

Student loans

Answer

Scholarships.

Answer

Grants.

Answer

Work-study earnings.

Question 7

What is a private scholarship?

Accepted Answer

Funded by private groups or organizations

Answer

Only given by federal agencies.

Answer

Given to transfer students only.

Answer

Part of student loans.

Question 8

What is work-study?

Accepted Answer

A part-time employment program for students with need

Answer

A full-time job requirement for all students.

Answer

A volunteer opportunity.

Answer

A requirement for Pell Grant.

Question 9

What should students consider when comparing financial aid packages?

Accepted Answer

Gift aid, loan amounts, and overall cost of attendance

Answer

The most expensive school is best.

Answer

Only the amount of loans.

Answer

Whichever college has the best dining hall.