Financial Aid and ROI for Education Quiz

A positive return on investment for education happens when _______.

• you calculate earnings after working for one year after college

• you graduate with honors

• you use federal student loans to attend a private college

• you attend a public university and do not take out loans

• your earnings potential is higher than the cost of your education

If your earnings potential is higher than the cost of your higher education, you will have a _______.

• negative return on investment for higher education

• neutral return on investment for higher education

• positive return on investment, depending on your major

• positive return on investment for higher education

Which of these is something to consider when trying to get a positive return on investment for higher education?

• The total cost of attendance

• The cost of a meal plan

• The location of the university

• The number of extracurricular activities

Jobs and careers that require degrees or certificates generally ________ jobs that require little or no training.

• pay about the same amount of money as

• pay more money than

• have fewer responsibilities than

• earn less money than

The total cost of attending a university includes ________________.

• tuition, housing, food, books, and other costs

• student loans and federal grants

• tuition, scholarships, grants, and loans

• scholarships, grants, and other forms of financial aid

Carol became an accountant by starting her training at a community college, followed by transferring to a bachelor's degree program at her local public university. How likely is it that she will have a positive ROI?

• Very likely, because attending college guarantees a job after graduation.

• Not at all likely, because she did not attend a four year college for all four years.

• Very likely, because she spent less money the first two years of college and is currently employed.

• Not at all likely, because she is not in a profitable career field.

Which of the following is NOT a reason to complete the Free Application for Federal Student Aid (FAFSA)?

• It allows you to be eligible for early admission.

• It allows you to be eligible for federal student aid.

• It allows you to be eligible for some grants.

• It allows you to be eligible for many scholarships.

Earning a degree can be expensive but which example shows why it might be worth it?

• Federal student loans are offered at low interest rates which makes it more affordable.

• Expensive degrees guarantee a low paying job afterwards.

• Individuals with a bachelor’s degree typically earn a higher annual salary than those without one.

• A high school diploma allows you earn money instead of going into debt

Which of the following is true about the Free Application for Federal Student Aid (FAFSA)?

• The earliest you can submit your FAFSA is October 1st of each year.

• The FAFSA has been updated to make it more accessible and easier tocomplete.

• The FAFSA is the largest source of aid for students.

Preparing to pay for higher education can start in 9th grade or earlier by...

• applying for scholarships.

• opening a 529 plan.

• taking out student loans.

• applying for grants.