FAAC Practice Exam

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What is the purpose of a consortium agreement?

It details with the U.S. Department of Education the programs that an institution has been approved to offer as Title IV eligible

It governs cross-enrollment between two schools without affecting financial aid

It is the FWS agreement between the college and a community service organization required in order to pay a student FWS wages

It allows students to take courses at another school that can be applied toward their degree and receive financial aid

A consortium agreement lets a student take courses at another school and have those courses count toward their degree while receiving financial aid. It coordinates credits, cost of attendance, and how aid is packaged and disbursed between the home institution and the partner school, so Title IV funds can be used for terms at the other campus. This arrangement ensures the credits from the host school contribute to degree progress and that the student remains eligible for financial aid. The other options describe related but different processes—listing Title IV-eligible programs, cross-enrollment that doesn’t involve aid, or a separate work-study agreement—so they don’t capture the specific purpose of enabling aid-supported study at another institution.

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