FAFSA Practice Test Video Answers

1. B
The primary purpose of the FAFSA is to determine eligibility for federal student aid, including grants, loans, and work-study funds.

2. B
The FAFSA process is managed by the Federal Student Aid (FSA) office, which is a part of the U.S. Department of Education.

3. B
The FAFSA application cycle traditionally opens on October 1 of each year for the following academic year.

4. B
The Student Aid Index (SAI), formerly known as the Expected Family Contribution (EFC), is a measure of a student’s financial need for aid. It’s an index number used by colleges to determine the amount of aid a student is eligible for.

5. C
SAT or ACT scores are not required to complete the FAFSA. Required information typically includes Social Security numbers, bank account balances, and federal tax information.

6. B
The main reason to submit the FAFSA as early as possible is that some aid programs, like grants and scholarships, have limited funds and are awarded on a first-come, first-served basis.

7. D
All of the provided options are valid ways to submit the FAFSA: via paper form, online at FAFSA.gov, or through the myStudentAid mobile app.

8. C
The Pell Grant is a federal program that uses FAFSA data to determine eligibility for need-based grants that do not need to be repaid.

9. B
The 2026–26 FAFSA application uses 2026 tax information, as it requires “prior-prior year” data to simplify the filing process.

10. B
The purpose of the IRS Data Retrieval Tool is to import tax return information directly into the FAFSA, which helps reduce errors and simplifies the application process.

11. C
The FAFSA determines eligibility for federal aid like grants and loans, but it does NOT determine eligibility for institutional merit scholarships, which are typically based on academic or other achievements.

12. B
A dependent student must report their own financial information as well as their parent(s)’ income and assets on the FAFSA.

13. B
If a FAFSA applicant intentionally provides incorrect information, they may face fines, repayment of aid, or criminal charges for fraud.

14. C
Generally, a 25-year-old graduate student is considered “independent” on the FAFSA, as age is one of the key criteria for determining dependency status.

15. B
The FAFSA Submission Summary (formerly SAR) is used to confirm the FAFSA data and show the calculated SAI results to the student.

16. C
The FSA ID is the PIN or ID used to electronically sign the FAFSA and to access other federal student aid websites.

17. A
The federal FAFSA deadline is June 30 of the academic year for which you are applying. However, state and school deadlines are often much earlier.

18. B
A Federal Direct Loan is a type of aid that is typically repaid after graduation, unlike grants and some scholarships.

19. B
A student can list up to 10 schools on the FAFSA at one time.

20. C
FAFSA stands for Free Application for Federal Student Aid.

21. B
Federal Work-Study is an example of a campus-based aid program that requires the FAFSA to determine eligibility.

22. A
A FAFSA applicant might be selected for verification due to random selection or if there is conflicting data on the form. This process requires the student to provide documentation to confirm the information.

23. B
If a family’s financial situation has changed after submitting FAFSA, a student should contact the college’s financial aid office to request a professional judgment review.

24. B
Eligible non-citizens, such as permanent residents, can receive federal aid by completing the FAFSA. All international students do not automatically qualify.

25. C
If a FAFSA is submitted after the federal deadline, the student may still be eligible for state or institutional aid if their respective deadlines are later.

26. B
A student needs to update their marital status if it changes after submission and they are selected for verification, as this information is crucial for determining dependency.

27. B
“Cost of Attendance” represents all educational expenses, including tuition, fees, room, board, books, and supplies.

28. B
If a student’s parents are divorced, the FAFSA requires the financial information of the custodial parent, or the parent who provided more support in the last year.

29. B
The difference between subsidized and unsubsidized federal loans is that subsidized loans do not accrue interest while in school, while unsubsidized loans do.

30. B
The correct next step after receiving the FAFSA Submission Summary is to review it and correct any errors if necessary.

31. B
The purpose of a “dependency override” is to allow a student with unusual circumstances, such as an abusive home environment, to be considered independent even if they don’t meet the standard FAFSA criteria.

32. A
One consequence of missing a state’s FAFSA deadline is that the student may lose eligibility for certain state grants or scholarships.

33. C
An IRS Form 1040 is the tax document that contains the information needed to complete the income sections on the FAFSA.

34. A
The Pell Grant is a type of aid that is based solely on financial need, as determined by the FAFSA.

35. A
The FAFSA question regarding military draft status helps determine selective service compliance for male applicants.

36. B
Some states use FAFSA data to award their own aid programs, making it a key step for both federal and state financial aid.