Unit 1 EPF Study Guide

What is the cost of attendance from the above Financial Aid Award Letter?

• $61,826
• $39,945

• $2,188

• $21,881

What is the total amount of grants this student received?

• $800

• $1,323

• $3,445

• $31,000

What kinds of loans is this student being offered?

• Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan
• Home Equity Loan, Money Market Loan

• Private Student Loan, Indirect Finance Loan

• Personal Individualized Hyperbolic Entrepreneurial Loan

What scholarships did this student earn?

• Athletic Scholarship
• Faculty Scholarship

• State Grant
• Merit-Based Scholarship

The student should accept which types of financial aid first?

• Scholarships and grants

• Student loans

• Work-study programs

• Personal savings

EFC stands for:

• Expected Family Contribution

• Electronic Funds Transfer

• European Football Championship

• Entrepreneurial Finance Calculation

The student’s EFC in the above document is:

• $0

• $4500

• $1000

• $3500

How might the EFC change if financial aid is not accepted?

• The EFC will increase

• The EFC will decrease

• The EFC will remain the same

What types of financial aid need to be repaid?

• Grants

• Scholarships

• Loans

• Work-study

The government treats subsidized loans differently from unsubsidized loans by:

• Charging interest on subsidized loans while the student is in school

• Not charging interest on subsidized loans while the student is in school

• Offering higher loan limits for subsidized loans

• Requiring immediate repayment for subsidized loans