Paying for College (FLASHCARD)

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What is the most attractive type of financial aid?

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Grants/Scholarships are considered the most attractive type of financial aid because they do not need to be repaid.

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What type of financial aid is most likely based on financial need?

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Grants are most likely to be based on financial need, as they are often awarded to students who demonstrate financial hardship.

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What should students focus on while making decisions during college?

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Students should focus on balancing their academic, social, and financial decisions to maximize their college experience and set themselves up for success post-college.

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How can transferring credits from a community college help save money?

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Transferring credits from a community college reduces the number of credits students need to pay for at a 4-year college, thus saving money.

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Which repayment option does not accrue interest while payments are paused?

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Deferment is the repayment option that does not accrue interest while required payments are paused.

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What is the difference between federal loans and private loans?

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Federal loans typically offer lower interest rates and more flexible repayment options compared to private loans.

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What is work-study?

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Work-study is a federal program that provides part-time jobs for students with financial need, allowing them to earn money to help pay for college.

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What are scholarships?

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Scholarships are financial awards given to students based on various criteria, such as academic achievement, talent, or financial need, that do not need to be repaid.

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What is the purpose of financial aid?

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The purpose of financial aid is to help students cover the costs of their education, including tuition, fees, and living expenses.

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What is a Direct PLUS Loan?

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A Direct PLUS Loan is a federal loan that parents of dependent undergraduate students can use to help pay for college expenses.