FAFSA Federal Aid Types and Eligibility 2

Question 1

Who is eligible to borrow a Direct PLUS Loan?

Accepted Answer

Graduate students and parents of dependent undergraduates

Answer

Undergraduate students only

Answer

Any student regardless of credit

Answer

Independent students only

Question 2

What is the annual borrowing limit for a dependent freshman undergraduate for Direct Subsidized and Unsubsidized Loans combined?

Accepted Answer

$5,500

Answer

$3,500

Answer

$7,500

Answer

$9,500

Question 3

Which of the following is NOT a federal student loan program?

Accepted Answer

Federal Sallie Mae Loan

Answer

Direct Subsidized Loan

Answer

Direct Unsubsidized Loan

Answer

Direct PLUS Loan

Question 4

What is the aggregate (lifetime) Direct Loan limit for dependent undergraduate students?

Accepted Answer

$31,000

Answer

$23,000

Answer

$57,500

Answer

$138,500

Question 5

To maintain federal financial aid eligibility, students must make satisfactory academic progress (SAP). Which is NOT typically a SAP requirement?

Accepted Answer

Maintaining full-time enrollment

Answer

Minimum GPA

Answer

Completing a percentage of attempted credits

Answer

Finishing degree within maximum timeframe

Question 6

Which federal aid program provides funds to schools to award to students, not directly to students' accounts?

Accepted Answer

Campus-based aid programs like FSEOG and FWS

Answer

Pell Grant

Answer

Direct Loans

Answer

TEACH Grant