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Paying For College

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

A student loan has to be paid back.

a)

True

b)

False

2.

What are some ways people use to help pay for college?

a)

Using cash

b)

Scholarships

c)

Asking forgiveness/bankruptcy

d)

Work Study Programs

e)

Student Loans

3.

Money awarded to a student for grades, extracurricular activities, or athletics is a ______________________.

a)

Gift

b)

Loan

c)

Scholarship

d)

Benefit of being a good student

4.

Scholarships have to be paid back.

a)

True

b)

False

5.

Money awarded to a student to help pay for college, but does not have to be paid back, and is usually strictly based off of income is a ____________________.

a)

Loan

b)

Award

c)

Gift

d)

Grant

6.

When a student receives money to pay for college, and the money must paid back, it is a _____________________.

a)

Scholarship

b)

Grant

c)

Student Loan

d)

Work Study

7.

You will be forgiven student loan debt only if you __________.

a)

Lose your job

b)

File for bankruptcy

c)

Die

d)

Refuse to pay

8.

The amount of money it costs you to borrow money is referred to as _________________.

a)

Interest

b)

Loan Amount

c)

Principal Balance

d)

Scholarship

9.

The form you must fill out to be eligible for any type of financial aid, including student loans is the ____________.

a)

Loan Application

b)

Scholarship Application

c)

Government Application

d)

FAFSA

10.

A majority of students receive scholarships/grants/loans to help pay for college.

a)

True

b)

False