Which of the following is a good strategy to use when it comes to paying for college?

Save your earnings from your summer job so that you can reduce the amount of loans you need to take

Only report your own earnings and savings, not those of your parents, even if you live with them full-time

See how much you can borrow in loans before applying for scholarships

Spend the money that you earn from your summer job so you can get more financial aid

How much does it cost to file the FAFSA?

It is free the first time you file, but costs $9.99/year thereafter

It is 2% of your total loan amount

Typically, when should you first file the FAFSA?

October or November of your last year of high school

After you finish freshman year of high school

After you receive your Student Aid Index

Once you are ready to start repaying your student loans

Your school counselor is a great resource for all of the following EXCEPT…

Negotiating lower interest rates for your student loans

Providing information about scholarships and grants you wouldn’t be able to find elsewhere

Suggesting specific scholarship and grant opportunities based on your personal strengths and accomplishments

Comparing different colleges, their costs of attendance, and financial aid offers

Keith's tuition, room & board, and fees for freshman year total $26,000. Including scholarships and grants his financial aid package is $24,000. Which option below is both realistic and the most financially responsible?

Keith should pick up a part-time job to cover his remaining costs and personal expenses

Keith’s financial aid package covers all of his necessary costs, so there is no need for him to do anything else

Keith should take out a private loan and limit himself to $8000 in other expenses freshman year

Keith should not attend this college because he cannot afford it

Which of the following are ways that you can invest in yourself?

Surround yourself with people who have similar goals and ambitions as you

Which of the following statements is false?

Debt is owing anything to anyone for any reason.

Our culture accepts student loan debt as normal and sometimes even refers to it as good debt.

Many people can't afford or are struggling to make their student loan payment every month.

Which of the following statements about college financial aid is false?

Scholarships are only for the highest academic achievers.

Some businesses have scholarships for employeesʹ children.

The Free Application for Federal Student Aid (FAFSA) is a key step to receiving financial aid.

Which of the following could be a negative consequence of taking out student loans?

Not having the freedom to be a stay-at-home parent because of student loan payments

Having to delay investing and saving for your future because of student loan payments

Not having flexibility in your career options because of student loan payments

A wise college plan includes all of the following EXCEPT:

Finding the most expensive, prestigious college so that you can impress future employers

Creating a budget and starting to save now

Shopping around for the most appropriate, low-cost academic option for your career choice

What ls a scholarship

A scholarship is something you get awarded based on talent of any sort

when you love college and homework

When you donate money to a charity

amount if money that's is given for college but you have to fill out a form

amount of money that's is given for college but you have to fill out a form

When you don't want to go to college

When you donate money to a charity

What is a major advantage of receiving Financial Aid?

It can make education more accessible.

It increases the national debt.

It has to be repaid by everyone, regardless of circumstances.

It guarantees a high-paying job after graduation.

What is a potential disadvantage of taking out student loans as Financial Aid?

They may lead to long-term debt.

They provide immediate access to education.

They reduce the cost of education.

They offer flexible repayment options.

What's a student loan

when you borrow money from the government and eventually have to pay back

when you borrow money from a organization to help you out for college

A national service program in the United States

A degree awarded by a community college