Federal Aid Types Flashcards
6 cards from real FAFSA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Federal Aid Types flashcards as text
Which of the following federal loan programs requires a credit check?
Answer: Direct PLUS Loan
Direct PLUS Loans (both Parent PLUS and Graduate PLUS) require a credit check, and borrowers with adverse credit history may be denied.
Who can borrow a Parent PLUS Loan?
Answer: The biological or adoptive parent of a dependent undergraduate student
Parent PLUS Loans can be borrowed by biological or adoptive parents of dependent undergraduate students to help pay for the student's education.
What is the aggregate (lifetime) federal loan limit for dependent undergraduate students?
Answer: $31,000
Dependent undergraduate students can borrow a maximum of $31,000 in federal Direct Loans over their undergraduate career (no more than $23,000 of which can be subsidized).
What interest rate feature applies to all federal student loans regardless of when they were taken out?
Answer: Fixed interest rates set at the time of disbursement
Federal student loans have fixed interest rates that are set by Congress and apply for the life of the loan, providing payment predictability.
Which federal grant program is specifically for students who are training to become teachers in high-need subject areas?
Answer: TEACH Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant provides up to $4,000 per year to students who plan to teach in high-need fields at schools serving low-income students.
The Iraq and Afghanistan Service Grant is available to children of service members who died in which conflicts?
Answer: Iraq or Afghanistan after September 11, 2001
The Iraq and Afghanistan Service Grant is available to students whose parent or guardian died as a result of military service in Iraq or Afghanistan after 9/11/2001.