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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

  1. Which federal grant does NOT need to be repaid and is awarded based on financial need?

    Answer: Federal Pell Grant

    The Federal Pell Grant is need-based aid that does not have to be repaid, making it the primary grant program for undergraduate students.

  2. What is the maximum annual Pell Grant award for the 2024-25 award year?

    Answer: $7,395

    The maximum Federal Pell Grant for the 2024-25 award year is $7,395, with the actual amount depending on the student's SAI, enrollment status, and COA.

  3. What is the key difference between a Federal Direct Subsidized Loan and an Unsubsidized Loan?

    Answer: The government pays the interest on subsidized loans while the student is in school

    With subsidized loans, the federal government pays the interest while the student is enrolled at least half-time, during the grace period, and during deferment periods.

  4. What is the annual borrowing limit for a first-year dependent undergraduate student for federal Direct Loans?

    Answer: $3,500

    First-year dependent undergraduates can borrow a maximum of $3,500 in subsidized loans plus additional unsubsidized loans for a combined limit of $5,500 per year.

  5. What is the Federal Work-Study (FWS) program?

    Answer: A need-based program that provides part-time employment to help students earn money for education

    Federal Work-Study provides need-based part-time employment opportunities for eligible students, allowing them to earn money to help pay education expenses.

  6. The Federal Supplemental Educational Opportunity Grant (SEOG) is awarded to students with what level of financial need?

    Answer: Exceptional financial need, primarily to Pell Grant recipients

    SEOG is a campus-based grant reserved for students with exceptional financial need, with priority given to Pell Grant recipients with the lowest SAI.