Paying for College

What is a highly recommended way to pay for college?

• Saving money over time

• Taking out a large loan

• Borrowing money from friends

• Spending money on fun activities

When is the best time to start saving for a child's college?

• When they start college

• When they start high school

• When they are born

• After they graduate high school

What is the difference between a grant and a loan?

• A grant has to be paid back with interest

• There is no difference

• A loan does not have to be paid back

• A grant does not have to be paid back

For what reasons are scholarships usually awarded?

• For personal achievements or grades

• For all students who apply for college

• For being a relative of the college's dean

• For needing financial assistance

What must you do with the money from grants, scholarships, and loans?

• Donate it to charity

• Spend it on personal items

• Invest it in the stock market

• Spend it on college expenses

What is a characteristic of student loans?

• They are forgiven for all students after graduation

• They are only available to part-time students

• They must be paid back with interest

• They do not have interest rates

What is work-study?

• A job program for students in financial need to pay for education

• A scholarship for top students

• A program that allows students to work and study abroad

• A loan with no interest