Paying for College - Unit Test

Front

What is the formula to calculate net price?

Back

Net Price = Sticker Price - Grants and Scholarships

Front

What does a lower Student Aid Index (SAI) indicate?

Back

A lower SAI means more financial aid eligibility.

Front

What is considered a direct cost of attendance?

Back

Tuition is a direct cost of attendance.

Front

What type of federal loans have interest payments covered while enrolled at least half-time?

Back

Subsidized federal loans have interest payments covered.

Front

How much does it cost to file the FAFSA?

Back

Filing the FAFSA is free.

Front

What is the Sticker Price in college financing?

Back

The Sticker Price is the total cost of attendance before any financial aid is applied.

Front

What are grants and scholarships?

Back

Grants and scholarships are forms of financial aid that do not need to be repaid.

Front

What is the difference between subsidized and unsubsidized loans?

Back

Subsidized loans have interest paid by the government while you're in school; unsubsidized loans do not.

Front

What is the purpose of the FAFSA?

Back

The FAFSA (Free Application for Federal Student Aid) is used to determine eligibility for financial aid.

Front

What is financial aid?

Back

Financial aid is money to help pay for college, which can come in the form of loans, grants, or work-study.