The Application Process: Lesson 1 Practice Questions and answers
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Course
2024/2025
Institution
2024/2025
The Application Process: Lesson 1
Practice Questions and answers
What is the FAFSA data used for? - Answer-1. Compute the expected family contribution
(EFC)-the amount the family is expected to contribute to the student's educational costs, which
is calculated using a need analysis formula call...
9. Calculate and manage the return of Title IV funds.
If the applicant applies for a new of duplicate PIN, she must choose whether she would like to
receive the PIN by: - Answer✔✔-1. Viewing the PIN instantly online in "real time", or
2. Receiving an immediate email with the PIN
Supplemental forms or applications are permitted only when used to collect additional
information required for: - Answer✔✔-1. Verifying FAFSA Information or
2. Resolving conflicting information pertaining to the applicant
Students and parents of dependent students may apply for a FSA PIN. The PIN may be used as: -
Answer✔✔-1. A personal identifier to access personal information on the various FSA electronic
systems; and
2.An electronic signature on the FOTW
3. Signing the Title IV loan master promissory notes (MPNs)
4. Accessing and completing online Federal Direct Student Loan (Direct Loan) counseling; and
5. Reviewing financial aid history information the National Student Loan Data System (NSLDS)
What are the multiple versions of the FAFSA - Answer✔✔-1. The paper FAFSA
2. FAFSA on the Web (FOTW)
3. FAA Access to the CPS Online; and
4. FAFSA on the Phone
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