The Best Way to Apply for Student Aid!

The video tutorial explores the financial aspects of attending college, emphasizing the importance of understanding and applying for financial aid through FAFSA. It provides strategies for maximizing aid, including grants, scholarships, and work-study programs. The tutorial also discusses the reality of student loans, comparing federal and private options, and concludes with advice on navigating these financial challenges.

What is the average lifetime earnings difference between a college graduate and someone without a degree?

• $1,000,000

• $2,000,000

• $500,000

• $1,500,000

What percentage of high school students complete the FAFSA form?

• 50%

• 61%

• 80%

• 70%

Which type of financial aid is considered 'free money'?

• Loans

• Work-study

• Grants and Scholarships

• FAFSA

What is a key advantage of participating in a work-study program?

• Guaranteed full-time employment after graduation

• No need to apply for FAFSA

• Flexible hours around classes

• Higher pay than off-campus jobs

What is a major benefit of federal student loans over private loans?

• No repayment required

• Subsidized interest payments

• No need for a cosigner

• Higher interest rates

What is the typical interest rate for federal student loans?

• 6.17%

• 14%

• 4.5%

• 2.5%

What is a potential downside of private student loans?

• Higher interest rates

• Government forgiveness programs

• Lower interest rates

• No need for creditworthiness