NGPF next gen personal finance

Front

Which of the following statements is TRUE about the value of education?
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, about $1,000,000 more than a high school graduate over a career.
Persuing a college degree only has quantitative benefits, such as a higher salary.

Back

A college graduate can expect to earn, on average, about $1,000,000 more than a high school graduate over a career.

Front

While doing online research about the colleges you're considering, you see an ad that says, "Enter a few vital pieces of information, pay $39.99 per month, and we guarantee you’ll win a scholarship. You don't even have to write an essay! Sign up today with just your name, social security number, and an email address!" How should you proceed?

Back

Don't sign up, because you shouldn't pay money to win scholarships, and you shouldn't enter your SSN into unknown websites.

Front

Which of these options depicts 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 form must you file?

Back

FAFSA

Front

Which of the formulas below equates to net price? Sticker price minus student loans = net price, Grants and scholarships + student loans = net price, Sticker price minus grants and scholarships = net price, Sticker price + grants and scholarships = net price

Back

Sticker price minus grants and scholarships = net price

Front

Janelle's family earns about $60,000 per year. She has been accepted to State University and Valley College and is comparing their financial aid packages. State University has a sticker price of $28,000 and net price of $12,000. Valley College has sticker price of $60,000 and net price of $9,000. Which statement below is FALSE? Options: If making a decision strictly based on cost, Janelle's best option is State U., Greenlawn College is providing Janelle more grants and scholarships., State U has a lower sticker price than Valley College., One factor that impacts net price is family income.

Back

If making a decision strictly based on cost, Janelle's best option is State U.

Front

Which type of financial aid has limits on the amount that you can borrow based on your year in college, with the federal government making the interest payments while you are in college, and you making the interest payments after you graduate?

Back

Subsidized federal loan

Front

Sarah lives on campus. Which of the following cost categories can she most likely remove from her budget?
Tuition for the semester.
Meal plan for the semester.
Monthly on-campus parking permit.
Books for her classes.

Back

Monthly on-campus parking permit.

Front

When filing your FAFSA, you’ll need each of the following documents EXCEPT... Tax return from 2 years ago for you and your parents (in most cases). Social Security card, driver’s license, or proof of permanent residency. Bank and/or investment statements (if applicable).

Back

Proof of employment.

Front

What is a good rule of thumb to consider when it comes to student loan debt?

Back

You should generally limit your borrowing to what you expect to earn as a starting salary when you leave college.