Everfi-Financial Literacy Lesson 6- Higher Education

Which is true about the ACT?

• All Juniors are required to take

• All honors students must make a minimum of an 18 to graduate

• Jumpstart students must pass their Work Keys test to replace their ACT requirements and get their certification to graduate

• ACT is only for honors students

• ACT is not required to graduate

Which of the following are true about FASFA and highschool?

• You must fill out FASFA to graduate

• You must fill out a Waiver to opt-out of FASFA to graduate

• FASFA is not Required to graduate

• FASFA has nothing to do with highschool

Which of the following is true about the Free Application for Federal Student Aid (FAFSA)?

• The earliest you can submit your FAFSA is October 1st of each year.

• The form is available online or on paper

• States may have different deadlines for applying for state aid

• All of these

. Which of the following is NOT true about the Free Application for Federal Student Aid (FAFSA)?

• You can fill the form out online or on paper.

• The earliest you can submit your FAFSA is January 1st of each year

• Each state may have a different deadline for state financial aid.

• You can fill out the FAFSA if you are an independent or a dependent

All of the following are true about why itis important to complete the Free Application for Federal Student Aid (FAFSA) process EXCEPT ...

• It allows you to be eligible for federal student aid.

• It allows you to be eligible for early admission.

• It allows you to be eligible for some grants.

• It allows you to be eligible for many scholarships.

Federally-funded grants require the student to...

• have financial need only.

• perform volunteer work for a local community agency

• have a membership in a high school club

• earn above average grades.

Everyone interested in post-secondary education should complete the Free Application for Federal Student Aid (FAFSA) because...

• it gives you access to private student loans

• it gives you access to private student loans

• it allows you to be eligible for federal student aid and other scholarships and grants

• it is a requirement for college admission.

A 529 plan is a college savings plan that offers tax and financial aid benefits. A 529 plan can help you save more money than 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.

What type of federal funding is free money, but is based on financial need only?

• Federal grants

• All federal scholarships

• The 529 Plan

• None of these are correct

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.