Life Afteer High School Unit Review

Which of the following is a benefit of going to college and obtaining a degree? (a)  

• a higher credit score
• higher potential earnings
• a nicer home
• increased amount of debt

Which of these is a way to pay for college rather than an expense of attending college?

• grants

• tuition

• room and board

• books and supplies

Scholarships are a great way to minimize the large expense of college. Which statement best describes a scholarships?

• loan of money that must be paid back before graduating college

• a loan of money that must be paid back after college

• free money that you must qualify for but do not need to pay back

• free money given to every student who decides to attend college

Amy was offered a large amount of "gift aid" from one of the colleges to which she applied. What is gift aid?

• money that is loaned to you to attend college that you will eventually have to pay back

• money that you work for while in college or career school

• free money that you don't have to pay back, and it reduces the total price you'll pay for college

• a type of loan that needs to be paid back on an annual basis.

Which college payment option is considered "gift aid"?

• Federal student loans

• private student loans

• savings

• scholarships

Which type of financial aid must be paid back with interest?

• scholarship

• grant

• loan

• work study

What's the best advice on how much money to borrow in student loans?

• Borrow less than you need, and just hope they don't kick you out before graduation.

• Borrow only what you need for college costs and basic needs.

• Borrow the maximum amount so you have fun, exciting time during college

• Under no circumstance should you ever borrow money for college

Ruth wants to attend a college with a sticker price of $45,000. She qualifies for $13,000 in gift aid. What will Ruth's net price be?

• $58,000

• $45,000

• $32,000

• $13,000

Susie wants to attend a college that has a sticker price of $21,600. The college has given her gift aid of $9,800 and she received a $2,000 local scholarship. How much money does Susie and her family need to pay for her to attend this college?

• $33,400

• $13,800

• $9,800

• $2,000

All of the following are alternatives to attending a 4-year college except..

• joining the workforce

• obtaining a Bachelor's degree

• attending a trade school

• enlisting in the military.