Question

Which of these statements about financial aid are true? Select all that apply.
Most student loans from the government have a lower interest rate than other types of loans.
If you receive a grant, you cannot also get a scholarship.
The FAFSA helps the government determine how much financial aid you need.
Work-study programs provide job experience, but no pay.
Money from scholarships must be paid back.
The FAFSA is available on paper and online.

Answer 1

True:
- Most student loans from the government have a lower interest rate than other types of loans.
- Federal student loans generally have lower, fixed rates and borrower protections compared with private loans or credit cards.
- The FAFSA helps the government determine how much financial aid you need.
- FAFSA information is used to calculate eligibility for federal (and many state/school) need-based aid.
- The FAFSA is available on paper and online.
- You can complete it online at studentaid.gov; a paper version can be requested/mailed if needed.

False:
- If you receive a grant, you cannot also get a scholarship.
- You can receive both grants and scholarships; many students combine multiple aid sources.
- Work-study programs provide job experience, but no pay.
- Federal work-study jobs pay wages; they provide both income and experience.
- Money from scholarships must be paid back.
- Scholarships are typically gift aid and do not have to be repaid (unless you violate terms).