Personal Finance Final: EverFi--Financing Higher Ed.

Making the choice to spend money on post secondary education pays off in the long run because:

• You or your parents can write it off your taxes.

• You can get grants and scholarships to pay for post secondary education while you are there.

• The salary you will earn with a degree will pay back the cost of college over your career.

• There are less expensive options for obtaining a post secondary education.

It does not make sense to avoid post secondary education because of its cost since in the long run:

• You or your parents can write it off your taxes.

• The salary you will earn with a degree will pay back the cost of college over your career

• You can get grants and scholarships to pay for post secondary education while you are there.

• There are less expensive options for obtaining a post secondary education.

What are the benefits of attending a local community college?

• It is cheaper to earn an Associate’s degree at a community college and then transfer to a four-year college to finish.

• You can live at home and save dorm fees while earning an Associate’s degree.

• Choosing a local community college within closer driving range saves on transportation costs.

• All of the above.

Cutting down on costs by earning an Associate’s degree first and then transferring to a four-year college or university can be done by going to what type of higher education institution?

• A local community college.

• A trade school.

• A specialized training program.

• Both b and c are correct.

Which is NOT considered an additional cost beyond tuition for higher education?

• Textbooks and supplies

• Academic counseling

• Room and board

• Transportation

Textbooks, transportation and room and board are all...

• included in the price of attending a college or university.

• additional costs for attending a college or university.

• included in a school's tuition.

• usually offered to students who stay on campus.

Which of these additional costs will most likely be the most expensive?

• Textbooks and supplies

• Academic counseling

• Room and board

• Transportation

Preparing to pay for higher education can start in 9th grade or earlier by...

• applying for scholarships.

• opening a 529 plan.

• taking out student loans.

• applying for grants.

A 529 plan can help you save more money than a traditional savings account because...

• it is a tax free.

• it is given to you at a very young age.

• the interest rates are considerably better.

• it is linked to the stock market.

Which is a tax-free savings account that can only used for educational expenses?

• Federal grants

• Needs-based scholarships

• Merit-based scholarships

• A 529 plan