Paying for College

Front

Money awarded to students that does NOT need to be repaid, often based on need

Back

Grant

Front

Money awarded to students based on achievement, does NOT have to be repaid

Back

Scholarship

Front

Money borrowed that has to be paid back with interest

Back

Loan

Front

How do scholarships and grants differ?

Back

Grants are need-based; scholarships are merit-based.

Front

Which is true about UNSUBSIDIZED Federal Student Loans?

Back

Interest accrues while in school and during deferment.

Front

If you select a repayment plan with a longer term for your loans...

Back

You will have a smaller monthly payment

Front

When looking at a financial aid award letter, which type(s) of aid would you have to pay BACK? Federal Pell Grant, Merit Scholarship, Federal Work-Study

Back

Direct Subsidized Loan

Front

All of the following are reasonable methods to limit student debt and pay for college EXCEPT: Apply for a grant, Gambling, Work-study programs, Scholarships

Back

Gambling

Front

Does scholarship money have to be repaid?

Back

No

Front

True or false: students should pick the scholarship they want carefully since they can only apply for one.

Back

False