- Study guides, Class notes & Summaries

STUDENT LOANS EXAM QUESTIONS WITH CORRECT ANSWERS (SHORT TEST) Federal Loan application - Answer-The FAFSA (Free Application for Federal Student Aid) serves as the application for federal student loans Eligibility for Federal Student Loans - Answer-All students are eligible for unsubsidized federal student loans. Subsidized student loans are provided based on need. Accrue - Answer-To accumulate interest on a loan. ex. With an unsubsidized Direct Loan, you will be accruing interest while y...

STUDENT LOANS EXAM QUESTIONS WITH CORRECT ANSWERS (SHORT TEST) Disbursement - Answer-A portion of a federal student loan that the school pays out by applying the funds to the student's school account or by paying the borrower directly. Students usually receive more than one of these, usually before each semester. Grace Period - Answer-A period of time that generally begins on the day after a borrower graduates, leaves school, or drops below half-time enrollment and ends on the day befor...