A graduate student is someone who...

has received a bachelors and is working on the next degree

has received the most education possible

wants to get a job and get paid now

An undergraduate student is someone who...

is trying to earn their bachelors degree

has not been accepted to a college

is trying to drop out of college

Which of the following statements is true about the value of a college education?

Christina says, "The value of a college education is that you will likely earn more over your lifetime, you grow a lot personally, and you get to make new connections."

Steve says, "The only value of a getting a college education is that your lifetime earnings will likely be more than a person who does not go to college."

Judah says, "College is only valuable if you choose to study specific majors."

Carla says, "College is not that valuable, but one cool thing is that you have the chance to study abroad."

Which of the following should rank as one of the MOST important factors students take into consideration when selecting a college?

The academic reputation of the college

The quality of the food in the dining hall

The number of sororities and fraternities at the college

The size of the dorms on campus

Which of the following is TRUE when selecting a college to attend?

There can be a big difference between a school's sticker price and net price.

You should never accept offers of admission from schools with a high sticker price.

Schools with the lowest sticker price are always the most affordable option.

You should always accept the school that gives you the most money in scholarships and grants.

Which of the following statements is FALSE about financial aid?

Financial aid is money that is given to you - you never need to pay it back.

Financial aid may be awarded to you based on factors such as your financial need, academic performance, or athletic ability.

Financial aid may include money that you have to pay back later.

Most full-time students receive some form of financial aid.

Which statement is TRUE?

You must submit the FAFSA every year you are in college as you/your family's financial situation may change and therefore impact your aid.

You can only submit FAFSA once. Most students do it in the last year of high school.

You can only submit FAFSA once. Most students do it before the first year they will attend college.

You have the option of submitting FAFSA more than once. This is important for students facing unforeseen financial difficulties.

Your friends are having a debate about rules of thumbs to use when it comes to student loan debt. Who is CORRECT?

Jason says, "You should generally limit your borrowing to what you expect to earn as a starting salary when you graduate from college, and avoid private student loans."

Miguel says, "You should borrow as much money as you can through private student loans, and then take out federal student loans."

Dani says, "You should avoid student loans no matter what, even if that means you have to work long hours and can't take a full course load."

Aisha says, "You should borrow all of the financial aid your college offers you in your financial aid award letter, even if you don't need it all."

In order to qualify for Federal student loans…

You must complete a separate application for federal loans

You must take out a private loan

A rule of thumb is a broadly accurate guide or principle. Which statement below represents a rule of thumb for how much a student should borrow for their college education?

A student should borrow no more than they expect to make as a starting salary upon graduation from college.

A student should borrow as much as a private lender will allow them to borrow.

A student should borrow no more than 35% of their discretionary income upon graduation from college.

A student should borrow as much as they expect to earn 10 years after they graduate from college.

To decrease your total student debt, it is a good idea to do which of the following?

Pay the interest on your loans while you are still in school

Take out student loans that amount to more than you expect to earn in the first year after you graduate

Take an extra year to graduate (5 years total)

You enter college with an interest in becoming a teacher. You do some web research and see that the starting salary for high school teachers ranges from $35,000 to $50,000. Based on rules of thumb we analyzed in the lesson, what is a conservative (safer) amount of student debt to take on?

Double your starting salary or $70,000 to $100,000

Grants are generally _________________ while scholarships are generally _________________.

free; require you to pay an application fee

provided by the federal government; provided by the college you attend

Sam has $30,000 in federal student debt and has a monthly payment of $300/month. Jordana also has $30,000 in federal student debt and has a monthly payment of $200/month. Which of the following statements is TRUE?

Sam has a SHORTER repayment term and will pay LESS in interest.

Jordana has a LOWER interest rate on her loan because she has a HIGHER credit score.

Jordana has a SHORTER repayment term and will pay LESS in interest.

Sam has a SHORTER repayment term and will pay MORE in interest.

Which of the following statements is TRUE?

Finishing college is usually a good long run investment, because graduates typically make more money for many years after graduating.

Dropping out of college will probably save you money in the long term, because dropouts do not have to repay their student loans.

Dropping out of college will probably save you money in the long term, because you no longer have to pay for items such as tuition, textbooks, etc.

Finishing college is usually a good long run investment, because you will be refunded your tuition money only if you actually graduate.

Which of the following might be potential sources of scholarships?

The company that one of your parents works for

A local service organization (e.g. the Kiwanis or Chamber of Commerce)

The college you plan on attending

Mckinsey has been accepted into a few colleges, but is feeling the pressure of making a financially smart decision. You decide to ask her a few questions to see if she has thought things through. Which of the following questions would NOT be helpful to ask Mckinsey at this stage?

"Have you identified whether taking the bus is faster than taking your bike to get to your classes?"

"Have you calculated the net price of each college you're considering?"

"Have you estimated what your monthly student loan payments look like after graduation?"

"Have you spoken to a financial aid representative from each school to discuss any questions and/or concerns you have?"

Craig has heard that taking out federal student loans is always preferable to taking out private student loans, but he doesn't understand why. Which of the following would you tell Craig to explain the advantage of taking out a federal student loan over a private student loan?

Federal student loans generally have more flexible and affordable repayment options compared to private loans.

Federal student loans do not need to be repaid.

Federal student loans have higher credit standards than private loans and require a co-signer.

All federal student loans don't charge any interest for the entire term of the loan period.

Four friends each give you a piece of advice about finding scholarships. The advice of each friend is below. Which one is BAD advice?

You should spend at least 3 months researching every single type of scholarship out there prior to applying.

You have to be persistent when searching, because there are thousands of scholarships online. The search may be long, but it's worth it!

To increase your chances of being awarded a scholarship, you should connect with individuals and organizations in the community who offer scholarships.

It will help if you think "outside the box" to find unique scholarship opportunities that the average student won't qualify for.

Which of the following tactics is MOST helpful when applying for scholarships?

Identifying unique categories of scholarships that are tailored to your talents, skills, and situation.

Applying to scholarships within general, broad categories that hundreds of other students also apply to.

Using an identical essay for ALL of your scholarship applications.

Following the rule of thumb that recommends you apply to fewer than 10 scholarships.

College Readiness Review

Quiz

•

Education

•

9th - 12th Grade

•

Practice Problem

•

Medium

•

CCSS

RI.11-12.3, RI.8.2, RL.11-12.2

+7

Standards-aligned

Used 11+ times

FREE Resource

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You have to pay back Federal Grants.

True

False

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

0 questions

Financial Aid and Student Loans Quiz

Quiz

•

0 questions

College Preparation

Quiz

•

0 questions

Funding Your Way Through College Quiz

Quiz

•

0 questions

Financial Aid - What do I know

Quiz

•

0 questions

Paying for College

Quiz

•

0 questions

Unit 4 Review: Paying for College

Quiz

•

0 questions

Colleges

Quiz

•

Popular Resources on Wayground

5 questions

This is not a...winter edition (Drawing game)

Quiz

•

1st - 5th Grade

15 questions

4:3 Model Multiplication of Decimals by Whole Numbers

Quiz

•

5th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

10 questions

The Best Christmas Pageant Ever Chapters 1 & 2

Quiz

•

4th Grade

12 questions

Unit 4 Review Day

Quiz

•

3rd Grade

10 questions

Identify Iconic Christmas Movie Scenes

Interactive video

•

6th - 10th Grade

20 questions

Christmas Trivia

Quiz

•

6th - 8th Grade

18 questions

Kids Christmas Trivia

Quiz

•

KG - 5th Grade

Discover more resources for Education

20 questions

Prenatal Development

Quiz

•

10th - 12th Grade

44 questions

Employability, Communication, Leadership & Education Foundations

Quiz

•

9th Grade

College Readiness Review

40 questions

What type of college do you go to for a 2 year degree?

If you want a bachelors degree, how many years will you typically be in college?

Which of these can help you pay for college?

It usually takes how many years to earn your Associate's Degree?

What types of financial aid can you receive only if you fill out the FAFSA? Select 3 answers.

You have to pay back student loans, even if you don't graduate.

You have to pay back Federal Grants.

You have to pay back scholarships.

Besides tuition, most colleges also charge students for...

The application that is filled out for financial aid is called?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Education