EPFX - review quiz

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 network

• Guaranteed starting salary of $100,000 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? (select all that apply)

• Net price is the published cost of going to a school

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

• Net price is the sticker price minus scholarships and grants

• Sticker price is the net price minus 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

What kinds of aid are you eligible for by filing the FAFSA? (select all that apply)

• Grants and scholarships

• Private student loans

• Work-study

• Federal student loans

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 prior

• 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 one time 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

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

Why should you fill out a FAFSA if your parents / guardians can't afford to pay for college? (select all that apply)

• You may receive a grant

• You may receive federal loan amounts

• You may receive enough aid to pay for college