EPF Post Secondary Financial Support: Standard 3 Unit Test

What is the best estimate for the cost of room and board compared to tuition?

• It is about 10% the cost of your tuition.

• It is about 20% the cost of your tuition.

• It is about 30% the cost of your tuition.

• It is about the same as the cost of your tuition, therefore it almost doubles the cost of attending.

True or False -If you don't find a job after college, you are not required to pay back your student loans.

• True

• False

Who struggles the most to pay back student loan debt?

• Students with between 1,000 and 5,000 in student loan debt.

• Students with more than 100,000 in student loan debt?

What's a good rule of thumb when it comes to student debt? You should borrow no more than…

• 35 thousand

• 10 thousand

• The amount that you would receive for your first year's salary when graduating college.

• Double the amount you would receive for your first year's salary when graduating college.

What does FAFSA stand for?

• Free Application for Federal Student Aid

• Fast and Safe Application

• Federal and State Funding Association

• Funding And Scholarships for All

When is the FAFSA first available to fill out each year?

• August 15th

• September 1st

• October 1st but this year (2023) it is in early December

• January 1st

Has college gotten more or less expensive over the past 10 years?

• More expensive

• Less expensive

Which is better for the borrower a loan deferment or a loan forbearance?

• A Loan deferment

• A loan forbearance

Which loan does the government pay the interest for, a subsidized student loan or an unsubsidized student loan?

• Subsidized loan

• Unsubsidized loan

What is the term for part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for educational expenses?

• Jobs for America

• College Co-ops

• Work -study programs

• University underwriters