Scholarships, Grants and Loans Oh My

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Housing and food

• Textbooks and school supplies

• Scholarships and grants

When does the FAFSA submission period open each year?

• January 1

• June 1

• October 1

• December 1

Why should you submit the FAFSA as soon as possible?

• It can increase your chances of being accepted into schools

• Aid is awarded on a first come, first served basis

• You are guaranteed to get more merit-based scholarships

• You will get a lower interest rate on federal student loans

How do scholarships and grants differ?

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

• Grants are private forms of aid; scholarships are federal

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

• They are not different; they are one and the same thing

What do you need to submit your FAFSA if you are a dependent?

• Only your tax forms

• Your high school student identification number

• Your tax forms and your parents' from 2 years ago

• A proof of payment if you had a job last year

Which is TRUE about the FAFSA?

• You only need to submit the FAFSA once in your college career

• Your parents must earn below a set amount for you to apply

• You need to submit it at the start of each quarter/semester

• There is no cost to submit the FAFSA

What can happen if you do not make payments towards your student loans?

• You can lose your car or house

• The balance of your loan may become due in full, but without interest

• You can lose your car or house

• Your credit score may suffer

Private student loans have better interest rates than government student loans

• True

• False

A federal student loan is provided by...

• Private companies

• The state you live in

• U.S. Federal Government

• Investors

Most students receive student loans/aid to help pay for college

• True

• False