Unit 9 Paying for College & Statistical Analysis Unit Review

Front

What is the FAFSA used for?

Back

The FAFSA (Free Application for Federal Student Aid) is used to determine eligibility for scholarships, grants, work study, and federal loans.

Front

What is the equation for calculating Net Price in relation to Sticker Price?

Back

Net Price = Sticker Price - Grants - Scholarships

Front

Why is it important to file your FAFSA early?

Back

Financial aid is awarded on a first come, first served basis, so filing early increases the chances of receiving grants and scholarships.

Front

What does a strong, negative correlation on a graph indicate?

Back

A strong, negative correlation indicates that as one variable increases, the other variable decreases.

Front

What are some additional expenses to consider when attending college?

Back

Costs of living in a dorm, renting off-campus, on-campus meal plans, textbooks, and supplies.

Front

What is a scholarship?

Back

A scholarship is a form of financial aid that does not need to be repaid, awarded based on various criteria.

Front

What is a grant?

Back

A grant is a type of financial aid that does not need to be repaid, typically awarded based on financial need.

Front

What is work-study?

Back

Work-study is a federal program that provides part-time jobs for students with financial need, allowing them to earn money to help pay for college.

Front

What is the difference between sticker price and net price?

Back

Sticker price is the total cost of attendance before any financial aid, while net price is the actual cost after scholarships, grants, and loans are applied.

Front

What is the purpose of financial aid?

Back

Financial aid helps students cover the costs of college, including tuition, fees, and living expenses.