college – Flashcards

Which of the following correctly pairs a financing option with its description? A. Grants & Scholarships - Money you Earn B. Federal Student Loans - Free Money C. 529 Plan - Money you Save D. Federal Work-Study Program - Money you Borrow

Which of the following statements about the FAFSA process are TRUE? AYou must be a U.S. citizen to submit the FAFSA form. BYou must use the FAFSA to apply for the federal work-study program. CYou cannot fill out the FAFSA form without your parent/guardian. DYou should only fill out the FAFSA form if you can demonstrate financial need.

When looking to finance higher education, what is the best order to look for funding sources? AGrants/Scholarships - Federal Student Loans - Private Loans BPrivate Loans - Grants/Scholarships - Federal Student Loans CFederal Student Loans - Grant/Scholarships - Private Loans DGrants/Scholarships - Private Loans - Federal Student Loans

ROI

someone with a bstchelor's degree makes ______ or __________ more than a person with a high school one

When making college visits, you may be able to... Areceive reimbursement for your college visit costs Bschedule a tour of the college campus Cattend a college class to see what it's like DBoth B & C EAll of the above

unsubsidised loans make you

subsidised

unsubsidised and subsidised do you have to pay while youre at school

FAFSA

Which loan type requires you to make loan payments while you're attending school? AUnsubsidized federal loan BSubsidized federal loan CPell Grant DNone of the above

Which of the following loans will typically offer the lowest interest rate? APayday loan BFederal Student Loan CPrivate Loan DBoth A & B

When referring to student loans, what is a grace period? AThe time period between graduating college and starting your first job when you don't have to pay back student loans BThe period after graduating or leaving school before you must begin paying back student loans CThe amount of time you have to pay back your entire student loan amount DNone of the above

The return on investment (ROI) from education is typically the highest for: AA high school graduate BA college applicant CSomeone with a 2-year (Associate) degree DSomeone with a 4-year (Bachelor's) degree

The Federal Application for Student Aid (FAFSA) form: Amust be completed by your guidance counselor Bcan only be filled out by U.S. citizens Cis used to apply for private loans Dcan be submitted on online or by mail

Using the FAFSA form, you can apply for: AFederal student loans BThe federal work-study program CPrivate loans DBoth A & B

Your sister is starting 9th grade next year and is thinking about going to college. What step would you recommend she take first? AFill out her FAFSA form BStart applying for grants & scholarships CLook for school clubs & organizations she's interested in DSign up for college admission exams

Which of the following statements about federal student loans is TRUE? AThe interest rate on your loan will be fixed over time. BThe interest rates on federal loans and private loans are similar. CYou can only get federal student loans if you demonstrate financial need. DYou do not accumulate interest on federal loans.

You are looking for ways to pay for your higher education costs. Which of the following options will require you to pay back any money you receive? AGrants B529 plans CFederal student loans DScholarships

After you send in your FAFSA form, what will you receive back? AYour Student Aid Report BYour IRS Data Retrieval Form CA copy of your family's tax returns DA copy of your completed FAFSA form