Multiple Choice
Which of the following is one way that learning to budget now can affect your future?
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1. Introduction to Accounting
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What must a student submit in order to access need-based federal aid and federal loans in the United States?
A
College Board CSS Profile
B
Federal Income Tax Return (Form 1040)
C
Student Loan Application Form (SLA)
D
Free Application for Federal Student Aid (FAFSA)
Verified step by step guidance1
Understand the context: The question is asking about the required form to access need-based federal aid and federal loans in the United States.
Recognize that the Free Application for Federal Student Aid (FAFSA) is the official form used to apply for federal financial aid, including grants, work-study, and loans.
Eliminate incorrect options: The College Board CSS Profile is used for institutional aid, not federal aid. The Federal Income Tax Return (Form 1040) may be required as supporting documentation but is not the primary application form. The Student Loan Application Form (SLA) is not a recognized form for federal aid.
Focus on the FAFSA: It collects information about the student's financial situation, family income, and other factors to determine eligibility for federal aid.
Conclude that the FAFSA is the correct and required form to access need-based federal aid and federal loans in the United States.
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