Worksheets3.05 Paying for Higher Education Note Taking Guide
Total questions: 12
Worksheet time: 6mins
What are grants?
Provides part-time jobs to students with financial need
Award based on academic performance or extracurricular activities
Tax-exempt financial aid
How often does the FAFSA need to be completed?
The first year you attend college
Each academic year
Every six months you attend college
How do you know if it has been successfully submitted?
Additional information if requested
All questions are answered completely and accurately
A confirmation page will appear
How do you apply for a Federal Student Loan?
Complete a Student Aid Report
Complete a FAFSA application
Contact the school you want to attend
Which type of federal aid has the highest interest rates?
Federal Perkins Loan
Direct Subsidized Stafford Loan
Direct Unsubsidized Stafford Loan
PLUS Loan
Which type of federal aid has the lowest interest rates?
Federal Perkins Loan
Direct Subsidized Stafford Loan
Direct Unsubsidized Stafford Loan
PLUS Loan
Cost of Attendance - ____________ = Financial Need
Emergency Funds
Expected Cost to Attend
Expected Family Contribution
Why is it important to review your Student Aid Report?
To identify any errors that should be reported
Send additional information if requested
To evaluate which school is the most affordable
What are you responsible for doing if your post-secondary institution sends you an award letter?
To identify any errors that should be reported
Send additional information if requested
To evaluate which school is the most affordable
What is need-based aid?
Estimate of the parents’and/or student's ability to contribute to post-secondary expenses
Aid that is awarded if you have financial need and meet other criteria
What is a characteristics of scholarships?
Provides part-time jobs to students with financial need
Awarded to students for specific projects
Typically have requirements before, during or after the scholarship is awarded
Describe the Federal Work Study program
Provides part-time jobs to students with financial need
Awarded to students for specific projects
Typically have requirements before, during or after the scholarship is awarded
