Paying for College Study Quiz

Which of these options lists the types of financial aid from MOST attractive to LEAST attractive?

• Private loans, Federal loans, Work-study, Grants/Scholarships

• Grants/Scholarships, Work-study, Federal loans, Private loans

In order to qualify for financial aid, which application must you submit?

• The FAFSA

• The SAR

Which of the formulas below correctly calculates net price?

• Sticker price - grants and scholarships = net price

• Sticker price + grants and scholarships = net price

 The federal government makes interest payments on __________ while you’re enrolled in school at least half-time, for the first six months after you leave school, and during any period of deferment.

• Work Study

• Unsubsidized student loans

• Subsidized Student Loans

Who receives and uses the information submitted in your FAFSA?

• The schools you’ve applied to and your state government to determine your eligibility for financial aid

• Your parents to keep track of your progress.

• Your employer to see if you are still able to work while in college.

Who is eligible to receive Direct Subsidized loans?

• Graduate students

• Undergraduate Students

• Student enrolled less than half time.

 How much does it cost to file the FAFSA?

• It's free

• $50.00

• The fee is based on your ability to pay.

 Typically, when should you first file the FAFSA?

• October or November of your last year of high school

• Once you are ready to start repaying your student loans.

• After you finish freshman year of high school

As a result of completing the FAFSA, you get a student aid report that indicates your EFC is $10,000. What does this mean?

• The government expects that your family can contribute about $10,000 to the cost of your education

• You can expect to receive $10,000 in grants from the federal government to pay for college

• You should only apply to schools that cost $10,000 or less

The FAFSA does not offer______ to college students.

• Grants

• Loan Forgiveness

• Dorm room choices