Paying for College

What is the approximate annual tuition cost for a four-year public institution?

• $9,970

• $3,570

• $35,260

• $27,500

Which type of college typically has the highest tuition cost?

• Two-year public institutions

• Four-year public institutions

• Four-year private institutions

• Online universities

What is a grant?

• A loan that must be repaid with interest

• A part-time job provided by the college

• Money awarded based on athletic achievement

• Money awarded based on need that doesn't have to be repaid

What is the main difference between a scholarship and a grant?

• Scholarships are only for athletes

• Grants are based on need, scholarships on achievements

• Scholarships need to be repaid, grants do not

• Grants are only for graduate students

How much will Nathaniel owe in student loans after four years at a private university, if his tuition costs $27,500 per year and he has a $48,000 scholarship?

• $27,500

• $110,000

• $48,000

• $62,000

Which of the following is NOT a type of federal student aid?

• Scholarship

• Work-study

• Grant

• Student loan

What is the purpose of a work-study program?

• To award money based on academic achievement

• To offer part-time employment to help pay for college expenses

• To lend money to students at no interest

• To provide full tuition coverage

Which statement is true about student loans?

• They are awarded based on athletic achievement

• They do not accrue interest

• They must be repaid with interest

• They do not have to be repaid