Personal Financial Literacy- Scholarships and Grants

What percentage of students receive scholarships or grants for college? (a)  

• 50%
• 63%
• 75%
• 100%

Why you should accept scholarships and grants before other types of financial aid (like student loans)?

Choose the best answer.

• Scholarships and grants are typically more competitive than other types of financial aid.

• Scholarships and grants are money you don’t have to pay back, so it’s best to accept as many of those as you can before accepting any types of aid you’ll have to pay back, especially when interest is involved.

• Scholarships and grants are money you have to pay back, so it’s best to accept as many of those as you can before accepting any types of aid you don't have to pay back, especially when interest is involved.

• Scholarships and grants can help you save money on tuition costs and you have to pay them back.

Explain how transferring core credits from a community college and/or testing out of certain courses can save you money when attending college.

• Taking classes online can help you save money when attending college.

• Applying for scholarships and grants can help you save money when attending college.

• Working part-time while attending college can help you save money.

• Both methods reduce the number of credits you would have to pay for at a four year college.

Which would be an example of a government scholarship?

• Canada Student Loan

• U.S Fulbright Student Program

• International Baccalaureate Diploma

• Merit-based Grant

Which would be an example of a Non-Profit Scholarship?

• The Gates Millennium Scholarship

• AAF Dallas Foundation Scholarship Fund

• The Coca-Cola Scholars Program

• The National Merit Scholarship Program

Which is an example of a Private Scholarship?

• Pell Grant

• Microsoft Research Fellowship

• National Merit Scholarship

• Military Affiliation Scholarship

What are the three types of money you should use when paying for college, and what type of money are scholarships and grants?

• Free money, your money, and borrowed goods. Scholarships and grants are worse than loans.

• Free money, your money, and borrowed services. Scholarships and grants are loans.

• Free money, your money, and borrowed money. Scholarships and grants are free money.

• Free money, your money, and borrowed items. Scholarships and grants are borrowed money.

Explain how grants are different from scholarships. Choose the best answer.

• Grants are typically awarded by the government while scholarships are typically awarded by private organizations.

• Grants are usually based on financial need and scholarships are usually based on merit/achievement.

• Grants are typically awarded for a specific purpose while scholarships are awarded for general educational expenses.

• Grants are typically awarded for a specific period of time while scholarships are typically awarded for an indefinite period.

If you can’t afford all of your education expenses, you’re not alone. But before taking out student loans, it’s a good idea to use gift aid — like ​ (a)   for college. These are the ​ (b)   kind of financial aid, providing funding for school that you ​ (c)   have to pay back.

Unlike ​ (d)   scholarships, grants are typically provided to students based on their financial need. That means you don’t have to be a perfect student or write a long essay to apply for a need-based grant.

• scholarships and grants
• best
• don’t
• merit-based
• worst
• definitely
• student loans

You can apply for ​ (a)   from the federal government, state governments, colleges and career schools, and private or nonprofit organizations. Most grant aid is provided on a ​ (b)   , ​ (c)   basis.

• grants
• first-come
• first-served
• scholarships
• loans
• last to apply
• lottery