College Orientation Summer 2024

FAFSA STANDS FOR...

• Federal Application for Free Student Aid

• Free Application for Federal Student Aid

• Freaky Awesome Funds Students Access

• Actually, it is a word for a type of student loan.

Priya, James, and Jackson are discussing student loans. Which of the following statements about student loans are true?

• They have very high interest rate

• They are funded by the US Government

• Good idea when they fit your financial plan

• Limits to how much you can (should) borrow.

• Cannot be discharged through bankruptcy.

Money you receive before taxes is called:

• gross income
• net income
• pay day
• bank loan

Money you receive after taxes is called:

• gross income
• net income
• salary
• pay day

A college will give Kimberley $3,200 per year toward tuition if she competes on the track team. What type of college funding is this?

• scholarship

• grant

• savings

• loan

Money that you borrow to pay for college but you have to pay it back with interest

• Scholarship

• Grant

• Student Loan

• Financial Aid

The cost of college classes

• Tuition

• Room & Board

• Grants

• Financial Aid

Mia and Lily are planning their college budget. Which of the following is a living expense they need to consider?

• Tuition

• Room & Board

• Grants

• Financial Aid

What kinds of aid are you eligible for by filing the FAFSA? Select all that apply.

• Grants and Scholarships

• Private Student Loans

• Work-Study

• Federal Student Loans

If you received federal (direct) loans, when will you first have to start paying them back? (Let’s assume that you are not enrolled in another college or graduate school.)  

• While you are in college

• The first month after you leave college

• Six months after you leave college

• One year after you leave college