WorksheetsPersonal Finance 3.05
Total questions: 18
Worksheet time: 9mins
Name
Class
Date
1.
To combine financial accounts/funds into a single overall account
a)
Consolidate
b)
Cost of Attendance (COA)
c)
Forbearance
2.
Total amount it will cost you to go to school (tuition, fees, and personal expenses)
a)
Cost of Attendance (COA)
b)
Consolidate
c)
Financial need
3.
Postponement of payment on a loan allowed under certain conditions and during which interest does NOT accrue
a)
Deferment period
b)
Expected Family Contribution (EFC)
c)
Grace period
4.
An estimate of ability to contribute to college expenses.
a)
Cost of Attendance (COA)
b)
Expected Family Contribution (EFC)
5.
The common name for the Free Application for Federal Student Aid form prepared annually to determine eligibility for post-secondary financial aid
a)
FAFSA
b)
Grant
6.
The difference btwn the cost of attending a particular school and the expected family contribution
a)
Forbearance
b)
Financial need
7.
A tax-exempt financial aid that may be given for many purposes, not necessarily just for education
a)
Grant
b)
Financial need
8.
Ability to stop or reduce loan payments for up to 12 months while interest is accruing
a)
Forbearance
b)
Deferment period
c)
Consolidate
9.
Period of time after a borrower graduates, leaves school or drops below half-time enrollment where they are not required to make certain federal loan payments
a)
Grace period
b)
Deferment period
10.
Failure to pay a loan according to the agreed upon terms
a)
Loan default
b)
Loan servicer
11.
Company that collects payment on a loan
a)
Loan default
b)
Loan servicer
12.
__________ = cost of attendance - grants and scholarships
a)
Net price
b)
Loan default
13.
A four digit number used as an electronic signature
a)
Personal Identification Number (PIN)
b)
Handy Dandy Number (HDN)
14.
Money awarded to students that does not have to be repaid and is based on academic or other achievement to help pay for education expenses
a)
Scholarship
b)
Work-study
15.
A report that summarizes responses made when completing the FAFSA form
a)
Student Aid Report (SAR)
b)
Scholarship Report
16.
A need-based loan from the federal government (interest is paid for by fed govt while the borrower is in school and during grace and deferment periods)
a)
Subsidized loan
b)
Unsubsidized loan
17.
A non-need-based loan from the federal government (interest is paid for by the borrower)
a)
Subsidized loan
b)
Unsubsidized loan
18.
A federal program that provides part time employment opportunities for students with financial need, allowing them to earn money to help pay educational expenses
a)
Work-study
b)
Intern
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