ADAP Cost and Financial Aid 5

Question 1

Which federal law governs the privacy of a student's financial aid records?

Accepted Answer

FERPA

Answer

FERPA (Family Educational Rights and Privacy Act) protects the privacy of student education records, including financial aid information.

Question 2

What is the primary purpose of an entrance counseling session required before receiving a federal student loan?

Accepted Answer

To ensure borrowers understand their loan obligations and repayment responsibilities

Answer

Entrance counseling educates first-time borrowers about their rights, responsibilities, and the terms of their federal student loans.

Question 3

Which agency accredits dental assisting programs, which can affect federal financial aid eligibility?

Accepted Answer

ADA Commission on Dental Accreditation (CODA)

Answer

CODA accreditation is the recognized standard for dental assisting programs; attendance at CODA-accredited programs typically allows students to access federal aid.

Question 4

What does the term 'net price' mean in the context of college costs?

Accepted Answer

The amount a student actually pays after subtracting grants and scholarships from total cost

Answer

Net price is the actual out-of-pocket cost after all gift aid (grants and scholarships) is subtracted from the Cost of Attendance.

Question 5

What is a Master Promissory Note (MPN) in the federal student loan process?

Accepted Answer

A legal document in which a borrower promises to repay the loan and agrees to its terms

Answer

The MPN is a binding legal agreement that outlines the terms of a federal student loan and must be signed before funds are disbursed.

(ADAP) Alternative Dental Assisting Program Practice Test

(ADAP) Alternative Dental Assisting Program Practice Test

ADAP Cost and Financial Aid 5