Unit 4 Quiz Review

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 netowrk

• Guaranteed starting salary of $50,000 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? (hint: choose 2 correct answers)

• 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 & grants

• Sticker price is the net price minus scholarships & 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

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What kinds of aid are you eligible for by filing the FAFSA? (hint: choose 3 correct answers)

• Grants and Scholarships

• Private Student Loans

• Work-Study

• Federal Student Loans

How do scholarships and grants differ?

• Scholarships are need-based; grants are merit-based

• Grants are private forms of aid; scholarships are federal

• Grants are need-based; scholarships are merit-based

• They're not different; they are one and the same

Which is TRUE about the FAFSA?

• You only need to file the FAFSA 1x 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

Which is TRUE about the EFC?

• It's the cost of filing the FAFSA

• It's how much you & your family are expected to pay for college

• It's another term for "net price"

• It's how much your parents must contribute towards college

Which of the following is the correct flow of submitting/receiving these documents?

• SAR > FAFSA > Financial Aid Package

• Financial Aid Package > SAR > FAFSA

• FAFSA > Financial Aid Package > SAR

• FAFSA > SAR > Financial Aid Package