Quiz to get a baseline of what the advisors understand about financial aid.
Profile
FAFSA
EFC
Pell
It is always free of charge
High Schools pay any fees for the forms.
In 2009-2010, this academic year, it is $35.00
The online version is free, but there is a fee for the paper version.
CSS Profile
Institutional Financial Aid Forms
Both A and B
Neither A nor B
Public colleges receive funding from the government, while private colleges are funded privately
Private colleges are generally more expensive than public colleges
State taxpayers contribute to the funding of public colleges, but not to the funding of private colleges
All of the above.
Contains your expected family contribution number.
Explains how much it will cost to attend a school
Is the form you fill out to receive financial aid.
Is part of the CSS/ Profile
Grants
Scholarships
Work-study
Loans
$3500
$5500, (3500 subsidized, 2000 unsubsidized)
$4000
$9500 (3500 subsidized, 4000 unsubsidized)
When they appeal their financial aid award and request more money.
When students’ parents apply for a parent plus loan and get denied based on their credit history.
When students’ parents apply for an alternative private loan and are denied based on their credit history.
They are eligible for $4000 in unsubsidized Stafford loans automatically every year.
$4,371
$5,530
$5,350
$6,000
True
False
Any 529 college savings plans that they have
The value of the home that they currently live in.
The value of their 401K retirement plan
Both B and C should not be considered investments on the FAFSA.
6.8 %
5.6 %
4.5%
8%
True
False
True
False
Follow the same financial aid process as regular decision students.
Fill out the FAFSA in the fall of their senior year.
Fill out the CSS Profile or any institutional financial aid forms first thing in October and then fill out the FAFSA in January 2010.
Just fill out the CSS profile in the fall. The FAFSA is not required.
Because it is most likely a minimal amount, you do not report anything on the FAFSA.
Estimate the student’s income to the best of your ability
Obtain the students W2 forms and use those to report the student’s income on the FAFSA.
The student’s parents will have this information on their own tax return
Only list the biological parent that the student is currently living with and not their stepparent.
Put down both biological parents and not the stepparent that the student is living with.
Put down both the biological parent and the stepparent that the student is living with.
You can either put down both biological parents or the biological parent that you are living with and the stepparent that you are living with.
True
False