Paying for College

What is a benefit of going to college and having a college degree?

• Lower lifetime earnings

• Lower interest rates on future loans

• Expanded professional and social netowrk

• Guaranteed starting salary of $50,000 after graduation

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Room and board

• Textbooks and school supplies

• Scholarships and grants

Which is TRUE about sticker price and net price?

• Net price is the sticker price minus loans

• Sticker Price is the published cost of going to a school

• Net price is the sticker price minus loans

• Sticker price is the net price minus scholarships & grants

When does the FAFSA filing period open every year?

• January 1st

• June 1st

• October 1st

• December 1st

Why should you file the FAFSA as early as possible?

• It can help your chances of being accepted into schools

• Aid is given out on a first-come, first-serve basis

• You're guaranteed to get more merit-based scholarships

• You'll get a lower interest rate on federal student loans

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When filing the FAFSA, you are eligible for all of the following EXCEPT:

• Grants and Scholarships

• Private Student Loans

• Work-Study

• Federal Student Loans

How do scholarships and grants differ?

• Scholarships are need-based; grants are merit-based

• Grants are private forms of aid; scholarships are federal

• Grants are need-based; scholarships are merit-based

• They're not different; they are one and the same

What do you need to file your FAFSA if you're a dependent?

• Just your tax forms

• Your high school student ID number

• Your and your parents' tax forms from 2 years priors

• A pay stub if you had a job in the past year

Which is TRUE about the FAFSA?

• You only need to file the FAFSA 1x in your college career

• Your parents must earn below a set amount for you to apply

• You need to file it at the start of every quarter/semester

• There is no cost to file the FAFSA

Which is TRUE about the Student Aid Index (SAI)?

• It's the cost of filing the FAFSA

• It's how much you & your family are expected to pay for college

• It's another term for "net price"

• It's how much your parents must contribute towards college