Test Preview: Packaging and Notification of Awards

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Content Areas

To earn this credential, you will need to know the strategies most schools use to combine various types of Title IV and non-Title IV aid from federal, state, institutional, and private entities, to create award packages designed to help meet the financial need of college students. In addition to knowing about packaging models and award notifications, you also will need to understand the concept of overawards, and how to prevent and resolve them. This will help you demonstrate the ability to meet a student’s financial need with funds from various sources, while ensuring equitable distribution of limited resources, maintaining compliance with program-specific requirements, and endeavoring to meet the mission, goals, and objectives of your school. 

The range of topics in this test include:

  • General Concepts of Packaging
  • Packaging Guidelines
  • Packaging Models and Processes
  • Overawards, Appeals, and Award Notifications

Tests may include questions pertaining to a variety of program structures, such as credit- or clock-hour, term or nonterm, standard or nonstandard term, undergraduate or graduate/professional programs, and programs of various length (shorter than one year, two-year, four-year, certificate, etc.).

Sample Test Questions

Select to EnlargeAll tests will include a combination of multiple-choice and scenario-based questions. Some questions may involve viewing or downloading worksheets, charts, and tables. Please ensure you have a calculator available while taking a credential test.

Review the following examples, which are similar in structure and scope to the questions that will appear on the test for this topic. Check your answers by selecting the question's link.

1. Which of the following is NOT considered estimated financial assistance (EFA) when packaging TEACH, campus-based aid, or federal loans?

    • Veterans education benefits
    • Private scholarships
    • Waivers for tuition and fees
    • State grants

2. After initial packaging, a student may receive additional estimated financial assistance (EFA) that causes an overaward. Which type of aid is never reduced to correct an overaward?

    • Federal Perkins Loan
    • Federal Pell Grant
    • TEACH Grant
    • Federal Direct Loan

3. The __________ packaging model ensures that all students receive a certain level of gift aid.

    • first-come, first-served
    • gift aid first
    • equity
    • self-help first

4. The Financial Aid Shopping Sheet, provided by the U.S. Department of Education, includes all of the following institutional performance metrics, EXCEPT

    • six-year graduation rates.
    • percentage of borrowers entering repayment within 3 years of leaving school.
    • median undergraduate borrowing.
    • freshman-to-sophomore year retention rate

5. A school can use __________ funds to substitute for the student’s EFC when packaging.

    • Federal Perkins Loan
    • TEACH Grant
    • FWS
    • Iraq and Afghanistan Service Grant

Recommended Resources

Prepare for this test by reviewing related content in resources such as:

 

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Publication Date: 2/15/2017

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