PF (5)

When selecting a major to study in college, why should you consider your "employability" and earning potential after graduation?

I. With the cost of college rising every year, you want to make sure that your investment "pays off" after graduation.

II. Knowing your earning potential can help you determine if you will be able to make your monthly student loan payments.

III. Most employers guarantee a salary within your earning potential after graduation.

IV. Knowing your "employability" and earning potential can help you plan a life after college, such as where you can live, what your budget will look like, etc.

• I only

• I & II only

• I, II & IV only

• I, II, III, & IV

School 1 has a sticker price of $50,000 and offers $40,000 in grants and scholarships. School 2 has a sticker price of $15,000 and offers $3,000 in grants and scholarships. School 3 has a sticker price of $80,000 and offers $60,000 in grants and scholarships. School 4 has a sticker price of $10,000 and offers $1,000 in grants and scholarships. Which school has the lowest Net Price?

• School 1

• School 2

• School 3

• School 4

It is a good idea to talk to a parent/guardian about paying for college, because...

I. It's possible your parents might incur some financial responsibility for your college.

II. Your parents can help you fill out paperwork and understand financial terms you may not have encountered before.

III. You can create a list of colleges that you and your family can realistically afford (after grants, scholarships, etc).

IV. You have a solid understanding of the financial commitment and investment you are making before attending college.

• I only

• II & III only

• I, II, & IV only

• I, II, III, & IV

As a freshman living on campus, you can expect to have the following costs EXCEPT:

• Room and Board

• Tuition

• Fees

• Rent

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.

When talking to a parent/guardian about paying for college, it is helpful to do all of the following EXCEPT:

• Pick a time that is convenient for you and your parent/guardian to have the conversation

• Assume that your parent/guardian has a detailed plan set up for you

• Take notes during the conversation

• Have a few questions prepared to ask and discuss

Which statement is TRUE?

• You can apply for FAFSA before it officially opens and there are special awards for those who do

• You can only apply for community or private scholarships after submitting FAFSA

• You can apply for community and private scholarships even before submitting FAFSA

• Even if you apply late for FAFSA you’re still guaranteed an award.

Which statement is TRUE?

• 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.

• You must submit the FAFSA annually as you/your family's financial situation may change and therefore impact your aid.

Which of the following is TRUE about your Student Aid Report (SAR)?

• You receive your SAR and Student Aid Index (SAI) separately.

• You should carefully review your SAR for any errors, because schools use the information on it to create your financial aid package.

• You should wait until you accept an offer of admission from a college before reporting any errors you find on your SAR.

• You usually receive your SAR about 6 weeks after submitting the FAFSA.

The FAFSA is used to determine your eligibility for all of the following types of financial aid EXCEPT:

• Private Loans

• Scholarships & Grants

• Work-Study

• Federal Loans