Paying for College

Money awarded to students that does NOT need to be repaid, often based on need

• Loan

• Grant

• Savings

• Work Study

Money awarded to students based on achievement, does NOT have to be repaid

• Grant

• Loan

• Work Study

• Scholarship

Tags

CCSS.RI.8.5

CCSS.RI.9-10.5

CCSS.RI.7.5

CCSS.RI.11-12.5

CCSS.RI.6.5

Money borrowed that has to be paid back with interest

• Grant

• Loan

• Work Study

• Scholarship

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

Tags

CCSS.RI.8.5

CCSS.RI.9-10.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.11-12.3

If you select a repayment plan with a longer term for your loans...

• You will have a larger monthly payment

• You will have a smaller monthly payment

• You will pay less in interest

• You will pay the same amount in interest

Does scholarship money have to be repaid?

• Yes
• No
• Sometimes

True or false: some scholarships require students to maintain a certain GPA.

• True
• False

Tags

CCSS.RI.8.5

CCSS.RI.9-10.5

CCSS.RI.7.5

CCSS.RI.8.3

CCSS.RI.9-10.3

Which of these is a good strategy when taking out student loans?

• Only borrow what you actually really need to.

• Take out as much money as possible so that you don't have to stress about money while in school.

• Only borrow money from banks instead of the government.

• Take out a lot of loans and then declare bankruptcy so that you don't have to pay them back.

All scholarships require a high GPA

• true

• false

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RL.9-10.2

Which type of loan…

Offers flexible monthly payments

• Federal

• Private