1. Most college applicants need to complete the Free Application for Federal Student Aid, commonly known as the FASFA, each year. The purpose of this application is to:

2. In addition to the FASFA for federal aid, some schools require students to complete an additional common application known as the:

3. Student debt has become a major problem with former students being burdened with over $1.5 trillion in college-related debt. Which of the following statements regarding use of debt to fund college education is true?

4. Completing your annual FASFA produces a number known as your “EFC,” which is used in determining your eligibility for federal aid. Your EFC is best defined as your:

5. Financial aid falls into two categories, need-based and merit-based. With regard to need and merit-based financial aid:

6. The FASFA must be completed annually to be considered for aid for the academic year. The FASFA opens each year on October 1 and the deadline is June 30. You should: