FAFSA Financial Aid Eligibility 2

Question 1

What happens to federal aid eligibility if a student defaults on a federal student loan?

Accepted Answer

Eligibility is suspended until the default is resolved

Answer

Eligibility is reduced by 50%

Answer

Nothing changes until the next FAFSA cycle

Answer

The student is permanently banned from all aid

Question 2

Which of the following would make a student an 'independent' student for FAFSA purposes?

Accepted Answer

Being 24 or older

Answer

Being 23 years old

Answer

Being enrolled in a two-year college

Answer

Working full-time while attending school

Question 3

What must a student do to maintain Pell Grant eligibility over multiple years?

Accepted Answer

Reapply on the FAFSA each year and maintain SAP

Answer

Pay back any unused grant funds

Answer

Enroll full-time every semester

Answer

Maintain a 3.5 GPA

Question 4

How many lifetime semesters (at full-time equivalent) of Pell Grant funding can a student receive?

Accepted Answer

12 semesters

Answer

4 semesters

Answer

8 semesters

Answer

Unlimited semesters

Question 5

Which of the following students is eligible for federal student aid?

Accepted Answer

A permanent resident attending an eligible Title IV school

Answer

A student enrolled in a non-accredited online course

Answer

An international student on an F-1 visa

Answer

A student who has already earned a bachelor's degree applying for a second bachelor's

Question 6

Which statement about federal student aid and prior educational credentials is correct?

Accepted Answer

Graduate students are ineligible for Pell Grants

Answer

Students with a bachelor's degree cannot receive Pell Grants

Answer

Students with any prior degree are ineligible for all federal aid

Answer

Associate degree holders cannot receive subsidized loans