Lesson 7.1/2 Continuing Education

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What are scholarships?

Back

Scholarships are gifts that do not need to be repaid.

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What does FAFSA stand for?

Back

FAFSA stands for Free Application for Federal Student Aid.

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Does FAFSA need to be paid back?

Back

No, FAFSA does not need to be paid back.

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How do you calculate educational ROI?

Back

Educational ROI is calculated as Lifetime Earnings - Cost of Education.

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What does ROI stand for?

Back

ROI stands for Return on Investment.

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What is the purpose of FAFSA?

Back

The purpose of FAFSA is to determine eligibility for financial aid.

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What type of financial aid does FAFSA provide?

Back

FAFSA provides grants, loans, and work-study opportunities.

Front

What is a grant?

Back

A grant is a form of financial aid that does not need to be repaid.

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What is a loan?

Back

A loan is a sum of money borrowed that must be repaid with interest.

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What is the difference between need-based and merit-based aid?

Back

Need-based aid is based on financial need, while merit-based aid is based on academic or other achievements.