Module 9 Test Life After High School

Which of the following is a benefit of going to college and obtaining a degree?

• A higher credit score

• Higher potential earnings

• A nicer home

• Increased amount of debt

Which of these is a way to pay for college rather than an expense of attending college?

• Grants

• Tuition

• Room & Board

• Books & Supplies

Scholarships are a great way to minimize the large expense of college. Which statement best describes a scholarship?

• A scholarship is a loan of money that must be paid back before graduating college.

• A scholarship is a loan of money that must be paid back after graduating college.

• A scholarship is free money that you must qualify for but do not need to pay back.

• A scholarship is free money given to every student who decides to attend college.

Tatiana was offered a large amount of "gift aid" from one of the colleges to which she applied. What is gift aid?

• Gift aid is money that is loaned to you to attend college that you will eventually have to pay back.

• Gift aid is money that you work for while in college or career school.

• Gift aid is free money that you don’t have to pay back, and it reduces the total price you’ll pay for college.

• Gift aid is a type of loan that needs to be paid back on an annual basis.

Which college payment option is considered "gift aid"?

• Federal student loans

• Private student loans

• Savings

• Scholarships

Which type of financial aid must be paid back with interest?

• Scholarships

• Grant

• Loan

• Work Study

What’s the best advice on how much money to borrow in student loans?

• Borrow less than you need, and just hope they don’t kick you out before graduation

• Borrow only what you need for college costs and basic needs

• Borrow the maximum amount so you have a fun, exciting time during college

• Under no circumstance should you ever borrow money for college

Damica wants to attend a college with a sticker price of $45,000. She qualifies for $13,000 in gift aid. What will Damica's net price be?

• $58,000

• $45,000

• $32,000

• $13,000

Violet wants to attend a college that has a sticker price of $21,600. The college has given her gift aid of $9,800 and she received a $2,000 local scholarship. How much money does Violet and her family need to pay for her to attend this college?

• $33,400

• $13,800

• $9,800

• $2,000

All of the following are alternatives to attending a 4-year college except...

• Joining the workforce

• Obtaining a Bachelor's degree

• Attending a trade school

• Enlisting in the military