QUESTION 53 Which one of the following statements is wrong? A student must submit a FAFSA (Free Application for Foderal Student Aid) form to be eligible to receive federal financial aid. The four repayment plans for a Stafford loan are standard repaymenit, extended repayment, graduated repayment, and income based ropay Factors used in calculation the EFC include taxable and nontaxable income, assets, retirement funds, and benefits, such as unemployment and Social Security PLUS (Parent Loan for Undergraduate Students) loans are for parents to borrow to help pay for a dependent's undergraduate education expen and are based on financial need QUESTION 54 Which one of the following statements is wrong? A Poll Grant is a federally funded grant awarded to undergraduate students who have not earned a Bachelors or graduate degree The EFC calculation, which is based on a student's ACT score, is used to determine eligibility and / or award amount for a Pell Grant One type of Stafford loan is the direct Stafford loan that is provided directly to the student from the Department of Education One type of Stafford loan is the FFEL Stafford Loan, where funds are lent to the student through a londer who participates in the FFEL progran