What Is the FAFSA

question 16

Multiple Choice

What is the FAFSA?

• A) a private scholarship program
• B) a standard part-time job application
• C) a free federal loan application
• D) a scholarship awarded by a college or university

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Definitions:

Loses Value

A term referring to the decrease in worth of an asset or currency over time.

FDIC

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

Savings and Loan

Financial institutions that primarily promote savings and provide loans for housing.

Medium of Exchange

A go-between resource or framework designed to support the transfer, acquisition, or exchange of commodities among participants.