Federal Aid Types and Eligibility 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 and Eligibility flashcards as text
Which federal grant does NOT need to be repaid and is based on financial need?
Answer: Federal Pell Grant
The Federal Pell Grant is need-based grant aid that does not need to be repaid, making it the primary federal grant for undergraduates.
What is the maximum annual Pell Grant award amount for the 2024-25 award year?
Answer: $7,395
The maximum Federal Pell Grant for the 2024-25 award year is $7,395.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to students with:
Answer: Exceptional financial need, prioritizing Pell recipients
FSEOG is awarded to undergraduates with exceptional financial need, with priority given to Pell Grant recipients.
What is the Federal Work-Study program?
Answer: A program providing part-time jobs to students with financial need
Federal Work-Study provides part-time employment opportunities for students with financial need to help pay education expenses.
Which type of federal loan is available to both undergraduate and graduate students based on financial need?
Answer: Direct Subsidized Loan
Direct Subsidized Loans are available to undergraduate students who demonstrate financial need; graduate students are not eligible for subsidized loans.
What is the key benefit of a Direct Subsidized Loan over a Direct Unsubsidized Loan?
Answer: The government pays interest while the student is enrolled at least half-time
With Direct Subsidized Loans, the federal government pays the interest while the student is enrolled at least half-time, reducing the total amount owed.