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

• Cell phone bill

• Scholarships and 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

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

How do scholarships and grants differ?

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

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

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

Which of the following is the correct flow of submitting/receiving these documents?

• SAR > FAFSA > Financial Aid Package

• Financial Aid Package > SAR > FAFSA

• FAFSA > Financial Aid Package > SAR

• FAFSA > SAR > Financial Aid Package

When looking at a financial aid award letter, which type(s) of aid would you have to pay BACK?

• Federal Pell Grant

• Perkins Loan

• Merit Scholarship

• Federal Work-Study

In what order should you accept different types of financial aid?

• Work-study, scholarships, federal loans, private loans

• Private loans, scholarships, work-study, federal loans

• Scholarships, work-study, federal loans, private loans

• Scholarships, work-study, private loans, federal loans

When going to college it is important to be...

• Financially Responsible

• Bad with your money

Identify which of the following statements about the FAFSA is TRUE.

• You can submit the FAFSA starting in January

• There is an $80 fee to apply for the FAFSA

• The amount of aid you may receive does not depend on when you file, as long as it is within the filing timeframe

• If you miss your school’s deadline to complete the FAFSA, you should still complete it and submit it.