Paying For College Review Quizs

Balance your academic, social, and financial decisions to make the most out of the entire college experience.

• This holistic approach can lead to a more fulfilling college life.

• Focusing solely on academics is the best way to succeed in college.

• Socializing is a distraction and should be minimized during college.

• Financial decisions have no impact on the college experience.

The lower your Student Aid Index (SAI), the more financial aid you are eligible for.

• Students with a lower SAI can receive more financial assistance.

• Students with a higher SAI receive more financial aid.

• Financial aid is not affected by the SAI.

• All students receive the same amount of financial aid regardless of SAI.

Benefit of an income-driven repayment plan

• Your payment should never exceed your monthly income

• Your payment should never be more than you can afford

• Your payment will always be fixed regardless of income

• Your payment will decrease over time automatically

Repayment option that does not accrue interest while payments are paused

• Deferment

• Forbearance

• Default

• Consolidation

FAFSA

• Application required to qualify for financial aid.

• A type of scholarship for graduate students.

• A federal tax form for students.

• A loan repayment program for students.

Transferring credits from a community college

• It increases the total credits required at your 4-year college.

• It reduces the amount of credits you’ll have to pay for at your 4-year college.

• It has no effect on your 4-year college credits.

• It allows you to skip certain courses at your 4-year college.

Federal student loan repayment options can accommodate hardships or payment difficulties.

• This offers flexibility for borrowers facing financial challenges.

• This requires borrowers to pay a fixed amount regardless of their situation.

• This allows borrowers to defer payments without any consequences.

• This mandates immediate repayment upon graduation.

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

• Taking out additional loans

• Reducing his course load

• Picking up a part-time job

• Cutting back on personal expenses

Ways to pay for college based on financial need

• Loans

• Scholarships

• Grants

• Work-Study Programs

The FAFSA is easy to submit and provides information on financial aid eligibility.

• It is essential for students seeking financial assistance for college.

• It is only for students with high academic performance.

• It is a form that must be submitted after college admission.

• It guarantees financial aid for all applicants.