First-Generation Financial Aid

Description: This quiz is designed to assess your knowledge about financial aid opportunities available to first-generation college students in India.
Number of Questions: 15
Created by:
Tags: financial aid first-generation students scholarships grants loans
Attempted 0/15 Correct 0 Score 0

What is the primary goal of first-generation financial aid programs?

  1. To provide financial assistance to students from low-income families.

  2. To encourage students to pursue higher education.

  3. To help students overcome the challenges of being the first in their families to attend college.

  4. All of the above.


Correct Option: D
Explanation:

First-generation financial aid programs aim to provide financial assistance, encourage higher education, and help students overcome challenges associated with being the first in their families to attend college.

Which of the following is NOT a common type of financial aid available to first-generation college students?

  1. Scholarships

  2. Grants

  3. Loans

  4. Work-study programs


Correct Option: C
Explanation:

Loans are not typically considered first-generation financial aid, as they require repayment.

What is the main difference between a scholarship and a grant?

  1. Scholarships are based on academic merit, while grants are based on financial need.

  2. Scholarships are awarded to students with high GPAs, while grants are awarded to students with low GPAs.

  3. Scholarships are typically larger than grants.

  4. Scholarships do not need to be repaid, while grants do.


Correct Option: A
Explanation:

Scholarships are awarded based on academic achievement or other criteria, while grants are awarded based on financial need.

Which of the following is an example of a federal grant program available to first-generation college students?

  1. Pell Grant

  2. Federal Supplemental Educational Opportunity Grant (FSEOG)

  3. Academic Competitiveness Grant (ACG)

  4. All of the above


Correct Option: D
Explanation:

The Pell Grant, FSEOG, and ACG are all federal grant programs available to first-generation college students.

What is the maximum amount of money a student can receive in Pell Grant funding per year?

  1. $6,495

  2. $7,395

  3. $8,295

  4. $9,195


Correct Option: A
Explanation:

The maximum Pell Grant award for the 2022-2023 academic year is $6,495.

Which of the following is NOT a common eligibility requirement for first-generation financial aid programs?

  1. Being a first-generation college student

  2. Having a high GPA

  3. Demonstrating financial need

  4. Being a member of a minority group


Correct Option: D
Explanation:

Being a member of a minority group is not typically an eligibility requirement for first-generation financial aid programs.

What is the main purpose of a work-study program?

  1. To provide students with part-time employment opportunities.

  2. To help students develop job skills.

  3. To allow students to earn money to help pay for college expenses.

  4. All of the above.


Correct Option: D
Explanation:

Work-study programs provide students with part-time employment opportunities, help them develop job skills, and allow them to earn money to help pay for college expenses.

Which of the following is NOT a common challenge faced by first-generation college students?

  1. Financial difficulties

  2. Academic struggles

  3. Social isolation

  4. Feeling a sense of belonging


Correct Option: D
Explanation:

Feeling a sense of belonging is not typically a challenge faced by first-generation college students.

What is the best way for first-generation college students to learn about financial aid opportunities?

  1. Talking to their high school guidance counselor

  2. Visiting the financial aid office at their college or university

  3. Conducting online research

  4. All of the above


Correct Option: D
Explanation:

First-generation college students can learn about financial aid opportunities by talking to their high school guidance counselor, visiting the financial aid office at their college or university, and conducting online research.

What is the deadline for submitting the FAFSA?

  1. January 1st

  2. February 1st

  3. March 1st

  4. April 1st


Correct Option: C
Explanation:

The deadline for submitting the FAFSA is March 1st.

Which of the following is NOT a type of federal student loan?

  1. Direct Subsidized Loan

  2. Direct Unsubsidized Loan

  3. Direct PLUS Loan

  4. Perkins Loan


Correct Option: D
Explanation:

The Perkins Loan is not a type of federal student loan.

What is the interest rate on a Direct Subsidized Loan?

  1. 3.73%

  2. 4.99%

  3. 6.28%

  4. 7.55%


Correct Option: A
Explanation:

The interest rate on a Direct Subsidized Loan for the 2022-2023 academic year is 3.73%.

What is the maximum amount of money a student can borrow in federal student loans per year?

  1. $12,500

  2. $15,500

  3. $18,500

  4. $21,500


Correct Option: A
Explanation:

The maximum amount of money a student can borrow in federal student loans per year is $12,500.

What is the grace period for federal student loans?

  1. 6 months

  2. 9 months

  3. 12 months

  4. 18 months


Correct Option: A
Explanation:

The grace period for federal student loans is 6 months.

Which of the following is NOT a common repayment plan for federal student loans?

  1. Standard Repayment Plan

  2. Graduated Repayment Plan

  3. Extended Repayment Plan

  4. Income-Based Repayment Plan


Correct Option: D
Explanation:

The Income-Based Repayment Plan is not a common repayment plan for federal student loans.

- Hide questions