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EduFin

Total questions: 21

Worksheet time: 25mins

Name
Class
Date
1.

Money you receive for school that does not have to be paid back. Select all that apply.

a)

Federal Student Loans

b)

Grants

c)

Private Student Loans

d)

Scholarships

2.

All of the following are costs of going to college EXCEPT...

a)

Tuition and fees

b)

Room and board

c)

Textbooks

d)

Scholarships and grants

3.

Money you receive for school that does not have to be paid back. Select all that apply.

a)

Federal Student Loans

b)

Grants

c)

Private Student Loans

d)

Scholarships

4.

You are an education major, and part of your financial aid is the money you earn as a tutor.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

5.

You or your parents borrowed money through a federal program to pay for your education this year.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

6.

You were a high school athlete. The university is paying your tuition while you play on the college team.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

7.

You work 20 hours per week in the library at your college.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

8.

What kinds of aid are you eligible for by filing the FAFSA? Select all that apply.

a)

Grants and Scholarships

b)

Private Student Loans

c)

Work-Study

d)

Federal Student Loans

9.

You borrowed money through a federal program to pay for your education this year.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

10.

You were a high school athlete. The university is paying your tuition while you play on the

college team.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

11.

You receive $500 from the local cultural society.

a)

scholarship

b)

grant

c)

work study

d)

loan

12.

You work in an office on campus after class every day.

a)

scholarship

b)

grant

c)

work study

d)

loan

13.

You are going to school to study voice performance, and you receive $1000 per semester because you sing in the college choir.

a)

scholarship

b)

grant

c)

work study

d)

loan

14.

What is a benefit of going to college and having a college degree?

a)

Lower lifetime earnings

b)

Lower interest rates on future loans

c)

Expanded professional and social netowrk

d)

Guaranteed starting salary of $50,000 after graduation

15.

How do scholarships and grants differ?

a)

Scholarships are need-based; grants are merit-based

b)

Grants are private forms of aid; scholarships are federal

c)

Grants are need-based; scholarships are merit-based

d)

They're not different; they are one and the same

16.

Martha is an accountant and makes $67,000 per year. Her friend, Henry, is an auto mechanic and makes $37,000 per year. How much more will Martha make over the next 10 years than Harry?

a)

$300,000

b)

$104,000

c)

$670,000

d)

$633,000

17.

(6.14G) Jared's family has been saving $500 per month for his college education since Jared was born. How much money will Jared's family have saved up by the end of Jared's 18th year?

a)

$6,000

b)

$9,000

c)

$36,000

d)

$108,000

18.

Determine the amount that needs to be paid.


4 years of tuition


$12,800 per year

a)

$3,200

b)

$25,600

c)

$51,200

d)

$102,400

19.

What does annually mean?

a)

always

b)

yearly

c)

salary

d)

wages

20.

Based on this information, how much more will an elevator technician make than a librarian over 10 years?

a)

$174,930

b)

$126,307

c)

$17,493

d)

$1,263,070

21.

Drawn your money