Everfi - Financing Higher Education Modules 1-3

Front

What are considered 'free money' options for financing higher education?

Back

Scholarships and grants are considered 'free money' as they do not need to be repaid.

Front

What does the sticker price of an institute of higher education include?

Back

The sticker price includes tuition, housing, food, books, and other costs.

Front

What is a positive return on investment for higher education?

Back

A positive return on investment occurs when your earnings potential is higher than the cost of your education.

Front

Why are net costs of higher education different from sticker prices?

Back

Net costs include all scholarships, grants, and special program financing, while sticker prices do not.

Front

Which type of loan is based on financial need?

Back

Subsidized loans are based on financial need.

Front

What is the difference between scholarships and grants?

Back

Both scholarships and grants are forms of financial aid that do not need to be repaid, but scholarships are often merit-based while grants are typically need-based.

Front

What is the purpose of work-study programs?

Back

Work-study programs provide students with part-time jobs to help pay for their education expenses.

Front

What is the FAFSA?

Back

The Free Application for Federal Student Aid (FAFSA) is a form that students fill out to determine their eligibility for financial aid.

Front

What are private loans?

Back

Private loans are loans offered by private lenders that typically have different terms and conditions than federal loans.

Front

What is the difference between subsidized and unsubsidized loans?

Back

Subsidized loans are based on financial need and the government pays the interest while the student is in school, while unsubsidized loans accrue interest from the time they are taken out.