Are You FAFSA-Ready?

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Questions and Answers

By when should students and families complete the FAFSA form for the 2023-24 school year?

  • January 2023
  • June 30, 2024 (correct)
  • July 2022
  • October 1, 2022

When does the FAFSA 2023-24 application open?

  • June 30, 2024
  • January 2023
  • July 2022
  • October 1, 2022 (correct)

When does the FAFSA 2023-24 application close?

  • June 30, 2024 (correct)
  • July 2022
  • January 2023
  • October 1, 2022

Do all states have the same FAFSA application dates for the 2023-24 academic year?

<p>It depends on the state (A)</p> Signup and view all the answers

Which of the following is NOT a factor in determining FAFSA deadlines?

<p>Family income (D)</p> Signup and view all the answers

What is the purpose of completing the FAFSA each year?

<p>To receive financial aid for the following school year (C)</p> Signup and view all the answers

What is the initial step for students and families to receive financial aid for college?

<p>Completing the FAFSA (A)</p> Signup and view all the answers

Which year's taxes does the FAFSA 2023-24 application consider?

<p>2021 (C)</p> Signup and view all the answers

What is the formula for determining need-based aid?

<p>Cost of attendance - Expected family contribution (A)</p> Signup and view all the answers

What is the Student Aid Index (SAI)?

<p>The new name for Expected Family Contribution (EFC) (B)</p> Signup and view all the answers

Do you need to apply for FAFSA every year?

<p>Yes (B)</p> Signup and view all the answers

Which year's income and tax information is needed for FAFSA for the 2024-25 academic year?

<p>2022 (B)</p> Signup and view all the answers

Is FAFSA a loan?

<p>No (D)</p> Signup and view all the answers

Do you have to pay back grants and scholarships received through FAFSA?

<p>No (A)</p> Signup and view all the answers

Is FAFSA first come, first served?

<p>Yes (A)</p> Signup and view all the answers

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