LumpieLIUM Slatus: 1 34 2 35 3 36 4 37 5 38 6 39 7 40 8 41 9 42 10 11 12 13 14 15 16 17 18 19 20 26 ZO Z 24 25 26 27 d. 1, 2, 3, and 4. QUESTION 9 All of the following statements concerning educational funding are correct EXCEPT: a. A student must submit a FAFSA (Free Application for Federal Student Aid) form to become eligible for federal financial aid. b. Distributions from a grandparent-owned 529 Savings Plan used to pay for qualified expenses are not reported on the FAFSA. C. The EFC (Expected Family Contribution) is a formula that indicates how much of a student's family's resources ought to be available to assist in paying! for the student's college education d. It is beneficial to spend down UGMA/UTMA accounts prior to filling out the first FAFSA. and Submit to save and submit. Click Save All Answers to save all answers