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College Savings Vocabulary

Total questions: 14

Worksheet time: 7mins

Name
Class
Date
1.

A ___________ is a tax-advantaged savings plan designed to encourage saving for the future education costs

a)

529 Plan

b)

540 Plan

c)

1040 Plan

d)

500 Plan

2.

___________________ is a degree granted after a two-year course of study, especially by a community or a junior college

a)

Bachelor's degree

b)

Associate's degree

c)

Master's degree

d)

Two year degree

3.

___________ is a degree that is given to a student by a college or university usually after four years of study.

a)

Master's degree

b)

Associate degree

c)

Bachelor's degree

d)

Four year degree

4.

___________ is administered by the office of Federal Student Aid, it is the doorway to all types of financial aid.

a)

FAFSA

b)

FAAFSA

c)

FFSFA

d)

SFA

5.

_______________ allows students and parents/guardians to borrow money for college directly from the federal government.

a)

Private college loans

b)

Federal Student loans

c)

National student loans

d)

None of the above

6.

____________ provides students part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for education expenses.

a)

Co-op program

b)

Grant

c)

Perkins study program

d)

Federal Work-Study Program

7.

______________ is a form of a need based federal financial aid that typically does not have to be repaid, which makes it highly desirable.

a)

Work-study program

b)

FAFSA

c)

Pell grant

d)

None of the above

8.

A _________________ loan is a subsidized loan, meaning that the federal government pays the loan's interest while you are in school.

a)

Pell grant

b)

Perkins loan

c)

Private loan

d)

Federal student loans

9.

A(n) ___________ loan is a subsidized loan, meaning that the federal government pays the loan's interest while you are in school.

a)

Perkins Loan

b)

FAFSA

c)

Federal Work study loan

d)

none of these are correct

10.

_____________ is a loan like federal student loans, can be used to pay for college costs, but they originate with a bank, credit union or online lender rather than the federal government.

a)

Stafford loan

b)

Grant

c)

Scholarship

d)

Private student loan

11.

______________ is a grant or payment made to support a student's education, awarded on the basis of academic or other achievement.

a)

Federal Student loan

b)

Pell Grant

c)

Perkins loan

d)

Scholarship

12.

_______________ loan is a type of federal, fixed rate student loan available to college and university undergraduate, graduate, and professional students attending college at least half-time.

a)

Stafford loan

b)

529 College savings loan

c)

Private student loan

d)

National student loan

13.

____________ loans are loans for undergraduate students with a financial need, as determined by your cost of attendance minus expected family contribution and other financial aid such as grants or scholarships.

a)

Subsidized student loans

b)

Unsubsidized student loans

14.

______________ are loans for both undergraduate and graduate students that are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid such as grants or scholarships.

a)

Subsidized loans

b)

Unsubsidized loans