Kaplan GradReady: How to Fund your Education Assessment

Kaplan GradReady: How to Fund your Education Assessment Question and Answer 2023. A(n) ____________ letter outlines what types of financial aid you can receive. Correct Answer: Award Complete the sentence. PLUS, Loans... Correct Answer: Are not need-based so even borrowers with higher incomes are eligible. TRUE or FALSE: A Subsidized Direct Loan requires a credit check, but an Unsubsidized Direct Loan does not. Correct Answer: False What information is needed in order to complete the FAFSA online? Correct Answer: W-2, Bank Statements, Driver's License, and an FSA ID Subsidized and Unsubsidized loans begin to accrue interest as soon as they are disbursed. The interest that accrues on ____ loans while the borrower is enrolled at least half time is paid by the U.S. Department of Education. The borrower is solely responsible for paying ALL of the interest that accrues on ___ loans. Correct Answer: Subsidized; Unsubsidized Who sends award letters? Correct Answer: School Financial Aid Offices Which of these loan options often has higher interest rates and fewer repayment options than the others? Correct Answer: Private TRUE or FALSE: While the FAFSA is used to determine financial need, it may be required for non-need-based aid (like scholarships) too. Correct Answer: True