PF: Chapter 7 Lesson 4 Reduce Your Cost

What is the first step in the search for financial aid?

• Working part-time

• Researching grants

• Applying for scholarships

• Completing the FAFSA

When should you submit the FAFSA?

• At the beginning of your senior year of high school

• After you have been accepted to college

• Anytime during the year

• Between October 1 and the end of the academic year

What is the purpose of the FAFSA?

• To calculate your level of financial need

• To apply for scholarships

• To determine your eligibility for student loans

• To qualify for federal aid only

What should you do if you see student loans listed in your financial aid award letter?

• Discuss with your parents before deciding

• Consider them as a viable option

• Accept them as a last resort

• Do not accept them

What is a scholarship?

• Financial aid based on financial need

• Money that needs to be repaid after graduation

• Money for education awarded based on achievement

• Funding for part-time work while in school

How can you increase your chances of earning scholarships?

• Research and apply for scholarships you are eligible for

• Maintain a high GPA and participate in extracurricular activities

• Write a compelling essay for each scholarship application

• Have a strong recommendation letter from a teacher

What are grants?

• Financial aid that does not need to be repaid

• Money awarded based on achievement

• Funding for part-time work while in school

• Financial aid based on financial need

How can you find out if you qualify for grants?

• Have a strong recommendation letter from a teacher

• Maintain a high GPA and participate in extracurricular activities

• Apply for scholarships and work-study programs

• Fill out the FAFSA and research outside options

What is the Federal Work-Study Program?

• A program that allows students to earn federal funding by working part-time

• Financial aid that does not need to be repaid

• A scholarship program for high-achieving students

• Funding for part-time work while in school

How can scholarships, grants, and work-study programs help with college expenses?

• They can add up and cover a significant portion of the expenses

• They can fully cover all educational expenses

• They can only cover a small portion of the expenses

• They are not sufficient to cover any expenses