Ch 7 College Planning Review

Front

What should you figure out before going to school for a specific field of work?

Back

Your passions and interests.

Front

True or False: Private student loans typically have a higher interest rate than federal student loans.

Back

True

Front

When applying for scholarships, what two factors should you consider?

Back

Range and intensity.

Front

What is the maximum amount that a freshman student can take out in federal student loans?

Back

$5,500

Front

What does FAFSA stand for?

Back

Free Application for Federal Student Aid.

Front

What is the purpose of FAFSA?

Back

To receive financial aid.

Front

True or False: You can take out unlimited federal student loans as a freshman.

Back

False.

Front

What is a key benefit of federal student loans compared to private loans?

Back

Lower interest rates and flexible repayment options.

Front

What is one important factor to consider when choosing a college?

Back

The cost of tuition and available financial aid.

Front

What is the difference between a scholarship and a grant?

Back

Scholarships are often merit-based, while grants are typically need-based.