To earn this credential, you will need to know the guidelines schools follow 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 program definitions and the guidelines for 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:
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.).
All 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?
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?
3. The Financial Aid Shopping Sheet, provided by the U.S. Department of Education, includes all of the following institutional performance metrics, EXCEPT
4. A school can use __________ funds to substitute for the student's EFC when packaging.
Prepare for this test by reviewing related content in resources such as: