Paying for College

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What is Work Study?

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A program that allows students to earn money through part-time work to help pay for their college expenses.

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What is Savings in the context of paying for college?

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Money that is set aside in a bank account to be used for future expenses, such as tuition.

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What is a Scholarship?

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Money awarded to students based on achievement that does not have to be repaid.

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What is a Grant?

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Financial aid awarded to students that does not have to be repaid, often based on financial need.

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What is a Loan?

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Money borrowed that must be repaid with interest, often used to pay for college expenses.

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How much does Charles need to pay for tuition after his scholarship and savings?

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$8,070.

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What is the purpose of financial aid?

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To help students cover the costs of their education, including tuition, fees, and living expenses.

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What is the difference between a scholarship and a grant?

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Both do not need to be repaid, but scholarships are often based on merit, while grants are usually based on financial need.

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What is the role of a tutor in Work Study?

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A tutor can earn money through Work Study by helping other students with their studies.

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Why is it important to save for college?

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Saving helps reduce the amount of debt a student may incur and ensures they can afford tuition and other expenses.