NGPF: Paying for College Lessons 1 - 7 Test

Front

Which of the following statements is TRUE about the value of a college degree? A high school graduate can expect to earn about the same as a college graduate, Every college graduate can expect to have a starting salary over $60,000 right after college, A college graduate can expect to earn, on average, more than a high school graduate over a career, A college graduate typically earns less than someone with a high school diploma for the first 10 years

Back

A college graduate can expect to earn, on average, more than a high school graduate over a career

Front

During a period of financial hardship, you can apply for this to pause student loan payments while interest still accrues...

Back

Forbearance

Front

Which of these options lists the types of financial aid from MOST attractive to LEAST attractive?
Options:
Private loans, Federal loans, Work-study, Grants/Scholarships
Grants/Scholarships, Work-study, Federal loans, Private loans
Work-study, Grants/Scholarships, Federal loans, Private loans
Federal loans, Grants/Scholarships, Work-study, Private loans

Back

Grants/Scholarships, Work-study, Federal loans, Private loans

Front

In order to qualify for financial aid, which application must you submit?

Back

FAFSA

Front

Which of the formulas below correctly calculates net price?
Options:
Sticker price - student loans = net price
Grants and scholarships + student loans = net price
Sticker price - grants and scholarships = net price
Sticker price + grants and scholarships = net price

Back

Sticker price - grants and scholarships = net price

Front

The federal government makes interest payments on while you’re enrolled in school at least half-time, for the first six months after you leave school, and during any period of deferment.

Back

Subsidized Federal Student Loans

Front

Which of the following is considered a direct cost of attendance?
Travel expenses, Cell phone bill, Tuition, Food and entertainment

Back

Tuition

Front

What types of money are used in paying for college and in what order should you use them? Options: Your money, borrowed money, free money

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Free money, your money, borrowed money

Front

Although it’s not a type of financial aid, how can transferring credits from a community college help save you money on college costs?

Back

It reduces amount of credits you’ll have to pay for at your 4-year college

Front

Which of the following is a good strategy to use when it comes to paying for college? Options: Only report your own earnings and savings, not those of your parents, even if you live with them full-time; See how much you can borrow in loans before applying for scholarships; Spend the money that you earn from your summer job so you can get more financial aid; Save your earnings from your summer job so that you can reduce the amount of loans you need to take

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Save your earnings from your summer job so that you can reduce the amount of loans you need to take