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

Direct PLUS Loans are available to graduate/professional students and parents of dependent undergraduate students.

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

Dependent freshmen can borrow up to $5,500 combined in Direct Subsidized and Unsubsidized Loans per year.

Question 3

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

Accepted Answer

Federal Sallie Mae Loan

Answer

Sallie Mae is a private lender, not a federal student loan program; all Direct Loans are through the U.S. Department of Education.

Question 4

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

Accepted Answer

$31,000

Answer

Dependent undergraduate students can borrow a maximum of $31,000 in Direct Loans over their lifetime of undergraduate study.

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

SAP requirements include GPA, completion rate, and maximum timeframe, but full-time enrollment is generally not required for SAP.

FAFSA Practice Test